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. See our updated Privacy Policy here.

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
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
Bullish
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
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
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
More View more
Real Time News
  • The Australian Dollar plummeted more than 1.4% against the US Dollar since the start of the week with AUD/USD reversing off technical resistance at the yearly high-close. Get your $AUD market update from @MBForex here:https://t.co/72ORZ3wZwx https://t.co/zG3UzI6bRc
  • US Markets Weekly Performance: S&P 500: -1.39% Nasdaq 100: -2.34% Dow Jones: -1.14% $SPX $NDX $DJX
  • Indices Update: As of 20:00, these are your best and worst performers based on the London trading schedule: France 40: 0.58% Germany 30: 0.35% FTSE 100: 0.33% Wall Street: -0.00% US 500: -0.01% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/TUoFzlS6AX
  • https://t.co/xBh8Jp8QRu
  • EUR/USD higher on the day following a disappointing US retail sales print this morning $EURUSD https://t.co/j1IuZOFiGI
  • Canada's Trudeau: We are looking to reopen the border with the U.S. $USDCAD
  • Commodities Update: As of 18:00, these are your best and worst performers based on the London trading schedule: Silver: 0.86% Gold: 0.81% Oil - US Crude: 0.06% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/nZBu5vyQD6
  • RT @BrendanFaganFx: Bitcoin, Ethereum, Dogecoin Moving Mainstream as Hollywood's Elite Embrace Crypto #Bitcoin #Ethereum $BTC $ETH Link:…
  • Gold is holding steady around a key intersection of resistance. Silver continues to channel its way higher, yet to reach substantial resistance. Get your $XAUUSD market update from @PaulRobinsonFX here:https://t.co/nuspNBlSHj https://t.co/Etgcc29zzI
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 90.36%, while traders in Germany 30 are at opposite extremes with 72.32%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/gJAFKdapzH
DAX: Looking to Make Good on Key Reversal Day

DAX: Looking to Make Good on Key Reversal Day

Paul Robinson, Strategist

What’s inside:

  • The DAX puts in key reversal day after attempting to break above resistance zone
  • Today, seeing some expected selling, moving back below 10k at this time
  • Looking to support in the 9700/9800s with follow-through, bearish bias negated above 10165

Yesterday, in our latest commentary regarding the DAX we noted the possibility of a key reversal day developing, but it was early in the morning so we needed to wait through the end of the day to the close to know if this was to be the case. And it was. A ‘pin/doji-like’ reversal bar formed following a pop through the top of the 10000/100 resistance zone we have penciled in as an important inflection point running back to March. The fact the market ran through resistance, but was unable to attract further ownership, then reversed, made the reversal all the more important from where we sit.

Today, we are seeing some selling pressure early, dropping down below 10k at the time of this writing. Further selling may not turn into a rout in the days ahead, but a decline into the low 9800s where the market found resistance in early July is reasonable to conclude. This is a fairly important zone of support given its sponsorship back in May. You can extend the support down to the low 9700s. Let’s call it roughly 9730 to 9812.

This bearish view will come under fire on a daily close above yesterday’s high at 10165. At which time a move to the 10250/350 region would gain traction.

DAX (Ger30) Daily

DAX: Looking to Make Good on Key Reversal Day

Start improving your trading today, read our free trading guide, “Traits of Successful Traders”.

---Written by Paul Robinson, Market Analyst

You can follow Paul on Twitter at @PaulRobinsonFX.

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

DISCLOSURES