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
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
Oil - US Crude
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
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
Bearish
GBP/USD
Bullish
USD/JPY
Mixed
More View more
Real Time News
  • Heads Up:🇩🇪 Inflation Rate MoM Final (MAR) due at 06:00 GMT (15min) Expected: 0.5% Previous: 0.7% https://www.dailyfx.com/economic-calendar#2021-04-15
  • Heads Up:🇩🇪 Inflation Rate YoY Final (MAR) due at 06:00 GMT (15min) Expected: 1.7% Previous: 1.3% https://www.dailyfx.com/economic-calendar#2021-04-15
  • Heads Up:🇨🇳 FDI (YTD) YoY (MAR) due at 06:00 GMT (15min) Previous: 31.5% https://www.dailyfx.com/economic-calendar#2021-04-15
  • The Indian Rupee rose as the Nifty 50 slightly fell after the RBI left benchmark rates unchanged despite recent weakening inflation and a massive fiscal spending plan. Will USD/INR bounce? Find out from @ddubrovskyFX here:https://t.co/SwufKMOwfQ https://t.co/yJsVT5GPgD
  • Retail traders appear to be reducing long exposure in the Euro after recent gains. This hints that EUR/USD and EUR/JPY may rise in the near term, but could this trend last down the road? Find out from @ddubrovskyFX here:https://t.co/Y1d4DXeKEE https://t.co/sD5elbDCWa
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 92.99%, while traders in France 40 are at opposite extremes with 75.56%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/Xopq2F0ZEs
  • (Crypto Tech Special) Bitcoin (BTC), Litecoin (LTC), Ethereum (ETH) Analysis: Is Momentum Fading? #Bitcoin #BTC #Litecoin #LTC #Ethereum #ETH https://www.dailyfx.com/forex/technical/article/special_report/2021/04/15/Bitcoin-BTC-Litecoin-LTC-Ethereum-ETH-Analysis-Is-Momentum-Fading.html?CHID=9&QPID=917702&utm_source=Twitter&utm_medium=Dubrovsky&utm_campaign=twr https://t.co/RkduJG4S4C
  • The Dollar extended its slide this past session as Fed's Powell tried to soften the 'eventual taper' message. Ahead, we have US retail sales, more quarterly earnings (BLK, TSM, DAL), Turkish CB rate decision and China 1Q GDP. Targeted volatility ahead? https://www.dailyfx.com/forex/video/daily_news_report/2021/04/15/Dollar-Tumble-Continues-as-Powell-Deflects-Taper-Retail-Sales-Earnings-and-Crypto-Ahead.html https://t.co/NP6sWFeB7s
  • Forex Update: As of 04:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: 0.06% 🇳🇿NZD: 0.01% 🇨🇦CAD: -0.02% 🇪🇺EUR: -0.05% 🇨🇭CHF: -0.09% 🇦🇺AUD: -0.18% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/OKyitguR1H
  • Indices Update: As of 04:00, these are your best and worst performers based on the London trading schedule: Wall Street: 0.13% FTSE 100: 0.13% US 500: 0.07% Germany 30: -0.08% France 40: -0.13% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/hKFGqiob3c
DAX: Decline Appears Corrective, Trades into Support

DAX: Decline Appears Corrective, Trades into Support

Paul Robinson, Strategist

What’s inside:

  • The DAX drops into support
  • Support from here down to low 11300s
  • Decline off Jan highs looks corrective

Trading Ideas and Guides

In Friday’s post, this is what we had to say regarding the DAX over the short-term: “The market needs to soon turn up, or else faces further downside risk…The market is pausing for now, but after every pause comes a move.”

After three days of meandering sideways, the market made a move on Monday, taking a 1.2% hit. The trend off the late-January highs is pointed lower, while the longer-term trend is pointed higher; there is still risk to the down-side, but as long as support holds nothing will be lost on the longer-term uptrend. With that said, there is support from here down to near 11300.

The area surrounding 11510/480 has been in play since December – once as resistance, now support. There was a jet below this zone on an intra-day basis on 1/17, but the market recovered by day’s end to maintain the ~11500 area. We’re coming off the low-end of our first noted support zone in early trade today, making this the first real test of support in a while. Should we see buying pressure fizzle out we’ll look to an area not far below in the vicinity of 11425/00 as our next zone of support. Below there lies the top-side trend-line running back to April; this line clocks in around 11330/20.

All-in-all, the DAX may continue to decline from here, but so far it looks corrective in nature and not the beginning of a significant reversal. Global risk appetite has yet to show any major signs of cracking, and as long as we don’t see anything highly disruptive the German stock market is likely to continue to hold a bid.

DAX: Daily

DAX: Decline Appears Corrective, Trades into Support

Created with Tradingview

See the Webinar Calendar for a schedule of upcoming live events with DailyFX analysts.

---Written by Paul Robinson, Market Analyst

You can receive Paul’s analysis directly via email by signing up here.

You can follow Paul on Twitter at @PaulRobinonFX.

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

DISCLOSURES