News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
EUR/USD
Mixed
Oil - US Crude
Mixed
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Wall Street
Mixed
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Gold
Bullish
GBP/USD
Mixed
USD/JPY
Bullish
More View more
Real Time News
  • London and Brussels sources note that there has been significant progress today over resolving the remaining differences between the two sides, adds that if a deal came, it could be announced early tomorrow, but more likely at the weekend or on Monday - The Times
  • 🇧🇷 GDP Growth Rate QoQ (Q3) Actual: 7.7% Expected: 9% Previous: -9.6% https://www.dailyfx.com/economic-calendar#2020-12-03
  • 🇧🇷 GDP Growth Rate YoY (Q3) Actual: -3.9% Expected: -3.5% Previous: -10.9% https://www.dailyfx.com/economic-calendar#2020-12-03
  • 🇧🇷 GDP Growth Rate YoY (Q3) Actual: -3.9 Expected: -3.5% Previous: -11.4% https://www.dailyfx.com/economic-calendar#2020-12-03
  • 🇧🇷 GDP Growth Rate QoQ (Q3) Actual: 7.7% Expected: 9% Previous: -9.7% https://www.dailyfx.com/economic-calendar#2020-12-03
  • The bull flag pattern is a great pattern to add to a forex trader's technical arsenal. Explosive moves are often associated with the bull flag. Learn more about the bull flag pattern here: https://t.co/yOEvLjKnct https://t.co/Lv2ZCpXsop
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 94.51%, while traders in EUR/JPY are at opposite extremes with 72.21%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/e2uxWLs0D7
  • Heads Up:🇧🇷 GDP Growth Rate QoQ (Q3) due at 12:00 GMT (15min) Expected: 9% Previous: -9.7% https://www.dailyfx.com/economic-calendar#2020-12-03
  • Heads Up:🇧🇷 GDP Growth Rate YoY (Q3) due at 12:00 GMT (15min) Expected: -3.5% Previous: -11.4% https://www.dailyfx.com/economic-calendar#2020-12-03
  • Commodities Update: As of 11:00, these are your best and worst performers based on the London trading schedule: Gold: 0.57% Silver: 0.42% Oil - US Crude: -0.69% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/nySJaPyQju
DAX 30: Sideways Price Action Is Dominating

DAX 30: Sideways Price Action Is Dominating

2016-04-12 09:15:00
Alejandro Zambrano, Market Analyst
Share:

Talking Points

  • The DAX 30 appears to lack a strong trend.
  • Critical levels for the DAX are the March 10 low of 9398 and the March 23 high of 10,118.
  • Final German inflation readings were published this morning, and the EU Harmonized reading showed a gain of 0.8% MoM, matching projections in a Bloomberg News survey.

The DAX 30 (FXCM: GER30) was little changed at the time of writing, and the index has not made any substantial attempts to leave the levels seen last week.

The sideways price action occurred despite price trading above last Thursday’s high of 9696 yesterday morning, something which has left the short-term trend less bearish and prone to short-covering by traders.

Looking beyond the near-term price action, the March 10 low of 9398 stands out as a strong support given that price bounced when it approached this level late last week. The next support level beyond the March 10 low of 9398 is the February 24 low of 9123, followed by the February 11 low of 8705.

Strong resistance levels are the March 23 high of 10,118, followed by the January 5 high of 10,400.

We do note that price has been trading sideways between both the March 10 low of 9398 and the March 23 high of 10,118 for more than a month.

The final German inflation readings were published this morning, and the EU Harmonized reading showed a gain of 0.8% MoM, matching projections in a Bloomberg News survey. Year-on-year inflation also rose by 0.1%, matching forecasts in a Bloomberg News survey.

There are no more European macroeconomic reports on tap today. For U.S. session reports on deck, please see our economic calendar.

Our forecasts for Q2 2016 are now live on the site. Download them for free.

DAX 30 | FXCM: GER30

Please add a description for the image.

Created with Marketscope/Trading Station II; prepared by Alejandro Zambrano

--- Written by Alejandro Zambrano, Market Analyst for DailyFX.com

Contact and follow Alejandro on Twitter: @AlexFX00

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES