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.



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
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
Wall Street
More View more
Real Time News
  • 🇯🇵 Inflation Rate YoY (MAY) Actual: -0.1% Previous: -0.4%
  • 🇯🇵 Core Inflation Rate YoY (MAY) Actual: 0.1% Expected: 0.1% Previous: -0.1%
  • 🇯🇵 Inflation Rate Ex-Food and Energy YoY (MAY) Actual: -0.2% Previous: -0.2%
  • The Swiss Franc has seen a bout of strength in recent months against several peer currencies. Here are technical levels to watch in USD/CHF, EUR/CHF, and CHF/JPY. Get your market update from @FxWestwater here:
  • Gold Price to Recover if Fed Rate Hike Risk & USD Strength Ebb -via @DailyFX Link to Analysis: $XAUUSD $GLD $GC_F
  • Heads Up:🇯🇵 Core Inflation Rate YoY (MAY) due at 23:30 GMT (15min) Expected: 0.1% Previous: -0.1%
  • Heads Up:🇯🇵 Inflation Rate Ex-Food and Energy YoY (MAY) due at 23:30 GMT (15min) Previous: 0.3%
  • Heads Up:🇯🇵 Inflation Rate YoY (MAY) due at 23:30 GMT (15min) Previous: -0.4%
  • RT @FxWestwater: Australian Dollar Sinks Alongside Commodity Prices as Post-FOMC USD Run Continues Link: https://t…
  • The S&P 500 and Dow Jones could be at risk as retail investors increase their long exposure in them ahead of the Fed rate decision. What are key technical levels to watch out for below? Find out from @ddubrovskyFX here:
DAX: More Losses Likely Ahead

DAX: More Losses Likely Ahead

Paul Robinson, Strategist

What’s inside:

  • The DAX fails to garner buying interest after Monday’s reversal
  • A drop below the Monday low will usher in more selling below 10100
  • A bounce from here is not likely to hold a lot of power, and will be viewed as a likely selling opportunity

In our Tuesday commentary we highlighted the importance of support created from the peaks set between May and July, and how it was reinforced on Monday when the DAX tanked and reversed from that steadfast area of support.

Since then the market has worked its way lower, with each of the past two intra-day bounces becoming increasingly weaker; carving out a descending wedge formation on the intra-day time-frame. This isn’t the most inspiring price action if you are looking for a rally, and strengthens the case for shorts.

Without buyers stepping up the 9/12 low at 10320 looks likely to break soon. A close below the Monday swing low increases potential for a move to the 8/3 low of 10092, which will roughly coincide with a back-side retest of the broken 2015 downtrend line off record highs.

DAX: More Losses Likely Ahead

The descending wedge could break to the upside, can’t rule that out even if the less likely scenario. However, a bounce from here is not likely to hold a lot of power at this time without seeing another ‘flush move’ first. A recovery higher from here could also set up a lower high scenario from the double-top peaks (8/15, 9/8).

In any event, the market is postured more bearish than bullish, and expectations of seeing prices drop lower from here are high. If the DAX moves higher we will view it as an opportunity to sell, not chase higher.

Hone your skills as a technical trader, and check out out free trading guides designed for traders of all levels of experience.

---Written by Paul Robinson, Market Analyst

You can follow Paul on Twitter at @PaulRobinonFX.

If you would like to receive articles directly into your inbox, sign up here.

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