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
Oil - US Crude
Wall Street
More View more
Real Time News
  • Technical Trade Levels: #Dollar, #Euro, #Sterling, #Aussie, #Gold, $SPX500 & More!- Webinar Archive -
  • ECB's Lagarde says clear that external value of Euro has impact on inflation, adds that the ECB monitors FX movements $EUR
  • Dow, Nasdaq Rally as USD Pulls Back to Start a Busy Week
  • Forex Update: As of 14:00, these are your best and worst performers based on the London trading schedule: 🇬🇧GBP: 0.84% 🇦🇺AUD: 0.46% 🇪🇺EUR: 0.19% 🇳🇿NZD: 0.06% 🇨🇦CAD: 0.06% 🇯🇵JPY: 0.00% View the performance of all markets via
  • Indices Update: As of 14:00, these are your best and worst performers based on the London trading schedule: Germany 30: 3.35% France 40: 2.76% FTSE 100: 2.04% Wall Street: 1.79% US 500: 1.53% View the performance of all markets via
  • The $SPX's gap higher is the second biggest bullish jump on the open in three months. We swung from the 100-day mov avg support to the 50-day mov avg resistance in just a few days time
  • GBP has not been weak across the board as EUR/GBP traded in a narrow range, given that the apparent improvement in the mood music regarding Brexit negotiations prompted some stability in GBP. Get your $GBPUSD market update from @JMcQueenFX here:
  • We're back! Thanks to everyone for tuning in today. Keep an eye on $DXY Index at the start of this week. Major US NFP on Friday - last one prior to the US presidential election on November 3.
  • Commodities Update: As of 14:00, these are your best and worst performers based on the London trading schedule: Silver: 1.82% Gold: 0.48% Oil - US Crude: 0.37% View the performance of all markets via
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.62%, while traders in Germany 30 are at opposite extremes with 63.57%. See the summary chart below and full details and charts on DailyFX:
DAX Turning Higher from Key Area of Support

DAX Turning Higher from Key Area of Support

2017-06-26 08:53:00
Paul Robinson, Strategist

What’s inside:

  • DAX holding onto support
  • Choppy price action making it difficult to arrive at conclusions
  • Favoring entries on pullbacks in light of weak momentum

What’s driving European equity markets? Find out in our trading guides.

On Thursday, regarding the DAX, we expressed our view that while the bullish tone was dented it remains supported. The failed breakout from the multi-week ascending wedge and trade back to the bottom-side of the formation put the index perilously close to a breakdown. Friday was a close one, but the market managed to hold on into today.

Generally, price action has become choppy, thus making it difficult to arrive at any concrete conclusions. Keeping it simple, as long as the DAX doesn’t experience a strong ‘sell-day’ through the lower trend-line extending higher from the April 24 French election gap the market will remain supported. The December trend-line just below the election trend-line is viewed with less significance even though it is longer-term in nature, simply because it has few connecting points (December/April). For the bias to fully shift lower a break below the gap trend-line and 6/15 low at 12621 would need to develop. But until then the market outlook remains neutral to bullish in-line with the overall trend.

Looking higher, the first obvious level of resistance is the gap-day high at 12951, then beyond there the top-side trend-line dating back to February.

Given that momentum is lacking, the best trading approach at this time is to enter on pullbacks versus chasing price action. This is most often times our chosen approach, but in times of low volatility and choppy trading conditions it becomes even more imperative that we take a disciplined approach which focuses on getting good prices over trying to catch large extended moves.

DAX: Daily

DAX Turning Higher from Key Area of Support

Paul conducts webinars every week from Tuesday-Friday. See the Webinar Calendar for details, and the full line-up of all upcoming live events.

---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.