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
Bullish
Oil - US Crude
Bullish
Wall Street
Mixed
Gold
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
GBP/USD
Mixed
USD/JPY
Mixed
More View more
Real Time News
  • The Gold price sell-off has broken below key technical barriers and leaves the outlook for XAU/USD weighted to the downside heading into the close of the month. Get your $XAUUSD technical analysis from @MBForex here:https://t.co/3YLcAFlr5f https://t.co/1uFb9UkDvV
  • Commodities Update: As of 19:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 1.48% Gold: -1.28% Silver: -2.80% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/OvThGydQBs
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 93.65%, while traders in France 40 are at opposite extremes with 78.02%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/Yq6wLxhblV
  • Vaccine Optimism Sparks 28% Increase in Oil Prices. Get your #crudeoil market update from @JMcQueenFX here:https://t.co/F3AlSkniXk https://t.co/qevY4Gh6o9
  • Indices Update: As of 19:00, these are your best and worst performers based on the London trading schedule: FTSE 100: 0.51% US 500: 0.47% Wall Street: 0.26% Germany 30: -0.15% France 40: -0.19% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/wxM2SJQrDE
  • EUR/GBP IG Client Sentiment: Our data shows traders are now net-short EUR/GBP for the first time since Nov 20, 2020 15:00 GMT when EUR/GBP traded near 0.89. A contrarian view of crowd sentiment points to EUR/GBP strength. https://www.dailyfx.com/sentiment https://t.co/ouaMBSjKk2
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 93.75%, while traders in France 40 are at opposite extremes with 77.98%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/mXHYu1zN9M
  • Commodities Update: As of 17:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 1.59% Gold: -1.39% Silver: -3.23% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/xchHegk5kh
  • $BTCUSD technical resistance in action. . . #Bitcoin https://t.co/sC21sU5jiX https://t.co/KQdwWtMUNr
  • Forex Update: As of 17:00, these are your best and worst performers based on the London trading schedule: 🇪🇺EUR: 0.34% 🇦🇺AUD: 0.33% 🇳🇿NZD: 0.28% 🇨🇦CAD: 0.21% 🇯🇵JPY: 0.20% 🇬🇧GBP: -0.42% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/6VlOG5bYhZ
DAX 30 Led Lower By Softer Energy Shares

DAX 30 Led Lower By Softer Energy Shares

2016-04-18 09:01:00
Alejandro Zambrano, Market Analyst
Share:

Talking Points

  • The DAX 30 remains range bound and is therefore lacking a strong trend.
  • Critical levels for the DAX 30 are the March high of 10,118 and the April low of 9437.
  • The next potential market mover is tomorrow’s German ZEW Expectations Index.

The DAX 30 (CFD: GER30) remains trapped between the March high of 10,118 and the April low of 9437. As long as price remains caught in the range as mentioned earlier, it will be hard to say what is next for the DAX 30.

The next resistance level beyond the March high is the January 5 high of 10,400, followed by the December 29 high of 10,880. Support beyond the April low is the February 24 low of 9123, followed by the February 11 low of 8705.

In today’s session, the DAX 30 was lower by 0.42% at the time of writing, something that has dented the very short-term uptrend in place following the creation of the April 7 low of 9437. Today’s losing sector is, unsurprisingly, the Utility Sector (Energy).

Energy-related firms took a hit worldwide after there was no accord at Sunday’s oil production meeting in Doha. Brent crude oil prices (CFD: UKOIL), were trading lower by 4.2% following the lack of agreement to freeze crude oil production, something which has pressured the share price of energy in Asia and Europe.

There is no market-moving event on deck today, the next one occurring tomorrow with the German ZEW Expectations Index. The index is published monthly and shows a mild correlation of +0.47 to the end of month DAX 30 YoY change since January 2007. A move higher in the German ZEW Expectations Index tends to lead to a rise in the DAX 30 YoY Change.

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

Please add a description for the image.

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