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.

Free Trading Guides
EUR/USD
Bullish
GBP/USD
Mixed
USD/JPY
Bearish
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
Bearish
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
Oil - US Crude
Mixed
Bitcoin
Bearish
More View more
Real Time News
  • Precious Metals Update: #Gold 1471.50 (-0.07%), #Aluminum 1731.00 (-0.40%), and #Copper 5875.00 (+0.77%). [delayed]
  • Forex Update: As of 21:00, these are your best and worst performers based on the London trading schedule: 🇬🇧GBP: -0.02% 🇪🇺EUR: -0.05% 🇨🇭CHF: -0.06% 🇳🇿NZD: -0.21% 🇨🇦CAD: -0.27% 🇦🇺AUD: -0.37% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/AUNGS781ie
  • Canadian Minister of Foreign Affairs Freeland says hard work on USMCA ratification being done $CAD
  • While $XAG might enjoy a bump if risk aversion picks up over the next few days, I think the medium-term trend lower remains intact Read more - https://www.dailyfx.com/forex/market_alert/2019/11/20/Silver-Price-Forecast-XAGUSD-May-Fall-Further-Despite-Risk-Aversion.html?CHID=9&QPID=917701 https://t.co/TkkZgHVnDW
  • Commodities Update: As of 21:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 0.08% Silver: -0.02% Gold: -0.07% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/4Lmt9Z4SQw
  • Commodities Update: NYM WTI Crude 57.12 (+3.20%), ICE Brent Crude 62.47 (+2.53%), NYM NYH Gasoline 165.80 (+3.39%). [delayed]
  • RT @LiveSquawk: General Election Poll Shows Almost One In Five Labour Voters Are Considering Backing The Tories - Telegraph https://t.co/sQ…
  • The$USD is holding onto intraday gains after the release of October FOMC minutes which detailed that Federal Reserve officials are turning less dovish. Get your market update from @RichDvorakFX here: https://t.co/vHZrOtsLxM https://t.co/TWkL6i83P5
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 97.95%, while traders in US 500 are at opposite extremes with 80.93%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/7mdqvPz6Aj
  • It might be an interesting couple of days for $USDCAD as it approaches resistance around 1.3350 Read more - https://www.dailyfx.com/forex/market_alert/2019/11/19/Canadian-Dollar-Forecast-USDCAD-CADJPY-NZDCAD-Levels.html?CHID=9&QPID=917701 https://t.co/heW76erBAs
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

News & Analysis at your fingertips.