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.



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

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
Oil - US Crude
Wall Street
More View more
Real Time News
  • The #HSI Hang Seng Index surged 2% to above the 30,000 mark, led by strong gains in the technology sector: - Tencent (+8.39%) - Meituan (+5.4%) - Alibaba (+3.8%) - Xiaomi (+2.85%)
  • Commodities Update: As of 03:00, these are your best and worst performers based on the London trading schedule: Silver: 0.40% Gold: -0.05% Oil - US Crude: -0.23% View the performance of all markets via
  • Dealing with the fear of missing out – or FOMO – is a highly valuable skill for traders. Not only can FOMO have a negative emotional impact, it can cloud judgment and overshadow logic. Learn how you can control FOMO in your trading here:
  • Forex Update: As of 03:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.34% 🇦🇺AUD: 0.23% 🇨🇦CAD: 0.22% 🇪🇺EUR: 0.03% 🇯🇵JPY: -0.01% 🇨🇭CHF: -0.03% View the performance of all markets via
  • #Bitcoin, #Ethereum Outlook: ETH Poised to Outperform BTC in Near Term - $BTC $ETH $BTCUSD $ETHUSD
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 100.00%, while traders in Wall Street are at opposite extremes with 64.73%. See the summary chart below and full details and charts on DailyFX:
  • Tune in to @IlyaSpivak 's #webinar at 10:00 PM ET/3:00 AM GMT for insight on the cross-market outlook in the week ahead. Register here:
  • Central banks often deem it necessary to intervene in the foreign exchange market to protect the value of their national currency. Learn how central bank intervention can impact your trading here:
  • In the week ahead, around 25% of S&P 500 companies will release their results, including GE, Johnson & Johnson, 3M, Microsoft, Boeing, AT&T, Facebook, Apple, Tesla, Visa and Amazon. Read more on my earnings outlook report.
  • Wall Street Futures Update: Dow Jones (+0.20%) S&P 500 (+0.28%) Nasdaq 100 (+0.51%) [delayed] -BBG
DAX 30 Tests Lower End Of The 9,739-10,111 Range

DAX 30 Tests Lower End Of The 9,739-10,111 Range

Alejandro Zambrano, Market Analyst

Talking Points

  • The DAX 30 is under pressure and traders are once again testing the lower end of the 9,739-10,111 range.
  • We note that while the DAX 30 is under pressure today, the trend remains bullish above the May 6 low of 9,739, as it is the last major low of a bullish trend that has been in place since February.

The DAX 30 (CFD: GER30) was under pressure at the time of writing following a 4.79% slide to the Health Care Sector, followed by Materials and Industrials, both of which were down by 2.10% and 1.56% on the day correspondingly.

A near term support level is the May 6 low of 9739, which is the most recent swing low to the bullish trend in place since February 11, when the DAX reached a low of 8697. The prior low to the May 6 low of 9739 was the April 7 low of 9433, which is also the next major support level. A short-term support level between these major figures of 9433 and 9739 is the April 12 low of 9619, followed by the April 11 low of 9524.

We note that while the DAX 30 is under pressure today, the trend remains bullish above the May 6 low of 9739 and the bullish trend should be respected until it is not bullish any longer, according to classic technical analysis. The last time the DAX 30 tested the May 6 low was on Thursday of last week. Relevant resistance levels are the May 10 high of 10,111, accompanied by the April 29 high of 10,254 and the April monthly high of 10,490.

Our Stock Market 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

Eurozone Construction Output declined 0.5% YoY in March from 2.5% YoY prior. The DAX 30 traded slightly higher following the report.

The afternoon session provides updates on the Chicago Fed Nat Activity Index, Jobless Claims, the Philadelphia Fed Index and speeches by Fed members, Fisher and Dudley. The speeches may attract the most attention, as both Fisher and Dudley are voters and could confirm or detract from the hawkish FOMC minutes published yesterday evening. The hawkish Fed has left the door open for a June rate hike, a move that is pressuring energy, and commodity related shares worldwide.

--- Written by Alejandro Zambrano, Market Analyst for

Contact and follow Alejandro on Twitter: @AlexFX00

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