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
Bearish
Oil - US Crude
Bearish
Wall Street
Bullish
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
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
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
USD/JPY
Mixed
More View more
Real Time News
  • The dispute between the Federal Reserve and the Treasury Department concerned economists and government officials last week. Traders, however, appeared unfazed as U.S. equity markets proceeded to higher ground. Get your market update from @FxWestwater here:https://t.co/DKK7WWHKlu https://t.co/qxKvC8FAVd
  • The British Pound is eyeing a push to fresh yearly highs against the US Dollar. However, various technical setups suggest GBP could lose ground to JPY, EUR and NZD in the near term. Get your $GBP market update from @DanielGMoss here:https://t.co/NSUnZnPb4Q https://t.co/RuBAAWS37w
  • Deadline on TikTok sale on hold as talks continue with the U.S - BBG
  • Australian Dollar May Extend Gains Despite Escalating China Trade Tensions - https://www.dailyfx.com/forex/fundamental/forecast/weekly/aud/2020/12/05/Australian-Dollar-May-Extend-Gains-Despite-Escalating-China-Trade-Tensions.html?CHID=9&QPID=917708&utm_source=Twitter&utm_medium=Moss&utm_campaign=twr $AUD $AUDUSD https://t.co/dvwlnImvDl
  • IGCS hints that gold prices may reverse higher as the S&P 500 aims for new highs. Things are looking a little bit more choppy for the growth-linked Australian Dollar. Get your $AUD market update from @ddubrovskyFX here:https://t.co/xiaQOr5D7D https://t.co/ZIwVyai2m2
  • The US Dollar technical outlook remains broadly bearish against ASEAN currencies like the Singapore Dollar, Indonesian Rupiah, Malaysian Ringgit and Philippine Peso. Where to from here? Find out from @ddubrovskyFX here:https://t.co/ijSi1wlLpQ https://t.co/k34HQK8UXU
  • San Francisco issues new stay-at-home order for residents - Reuters via BBG
  • Productive procrastination = you have a list of tasks in varying degrees of importance and you put the most important and high-priority item on the bottom but still need to feel and be productive so you do other tasks while avoiding the thing u need to do the most. Familiar?
  • Forex Update: As of 21:00, these are your best and worst performers based on the London trading schedule: 🇨🇦CAD: 0.61% 🇬🇧GBP: -0.12% 🇨🇭CHF: -0.13% 🇪🇺EUR: -0.22% 🇯🇵JPY: -0.34% 🇳🇿NZD: -0.52% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/OgYcNSUCI2
  • Commodities Update: As of 21:00, these are your best and worst performers based on the London trading schedule: Silver: 0.59% Gold: -0.10% Oil - US Crude: -0.28% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/Jc0b1GCn7D
DAX 30 Under Pressure On BoJ Inactivity

DAX 30 Under Pressure On BoJ Inactivity

2016-04-28 09:57:00
Alejandro Zambrano, Market Analyst
Share:

Talking Points

  • The DAX 30 (CFD: GER30) maintained a short-term bearish bias at the time of writing. The monthly trend is also under pressure.
  • The decline to the DAX is on the heels of BoJ surprising the markets by not expanding their monetary stimulus.
  • As the U.S. trading session starts focus shifts to U.S. GDP and Jobless claims.

The DAX 30 (CFD: GER30) maintained a bearish bias at the time of writing. The trend was short-term bearish as yesterday’s high of 10,346 is lower than last week’s high of 10,488. We have been highlighting this trend over the last few days.

The April 14 high of 10,110 is now in play as a potential support level and is the same level which held as resistance for most of March. Below the April 14 high the psychological level of 10,000 will come in focus. Resistance levels are yesterday’s high of 10,346, followed by the April 22 closing level of 10,409.

We note that the longer-term trend is now under pressure as the price has now lost 61.8% of its gains from last week’s low of 9906. Last week’s low of 9906 is crucial for the bullish trend in place since price bottomed out on April 7, as it is the last swing low on the daily chart. Below it, the next major support level is the April 7 low of 9437.

The decline to the DAX is on the heels of BoJ surprising the markets by not expanding their monetary stimulus, the Japanese Yen and stock markets declined as a result of the meeting outcome.

The German Unemployment Rate remained unchanged at 6.2% and therefore matched economists’ expectations. The DAX 30 rose slightly on the news, but five minutes after the release it resumed its tumble. German CPI will follow in the afternoon. A Bloomberg News survey projects the inflation rate to rise by 0.1% YoY, which would be a step back from the 0.3% rise in March. The report is important as it influences the monetary policy of the ECB, which in turns affects economic growth in the Eurozone and Germany. As the U.S. trading session starts, focus shifts to U.S. GDP and Jobless claims.

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

DAX 30 | CFD: 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