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
EUR/USD
Bearish
Oil - US Crude
Bullish
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
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
GBP/USD
Bearish
USD/JPY
Bullish
More View more
Real Time News
  • The London trading session accounts for around 35% of total average forex turnover*, the largest amount relative to its peers. The London forex session overlaps with the New York session. Learn about trading the London forex session here: https://t.co/UTWxbnNz7M https://t.co/03nsLIFxVq
  • Commodities Update: As of 07:00, these are your best and worst performers based on the London trading schedule: Gold: 0.03% Silver: -0.06% Oil - US Crude: -0.65% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/bZOgkJeQnh
  • Forex Update: As of 07:00, these are your best and worst performers based on the London trading schedule: 🇦🇺AUD: 0.08% 🇪🇺EUR: 0.05% 🇨🇭CHF: 0.04% 🇳🇿NZD: 0.02% 🇨🇦CAD: -0.14% 🇯🇵JPY: -0.18% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/tHXoCwSOYJ
  • Indices Update: As of 07:00, these are your best and worst performers based on the London trading schedule: US 500: 0.15% Wall Street: 0.07% FTSE 100: -0.27% France 40: -0.32% Germany 30: -0.38% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/YnjjB4v35p
  • 🇫🇷 Consumer Confidence (SEP) Actual: 95 Expected: 94 Previous: 95 https://www.dailyfx.com/economic-calendar#2020-09-29
  • An economic calendar is a resource that allows traders to learn about important economic information scheduled to be released. Stay up to date on the most important global economic data here: https://t.co/JdvW6HNuqV https://t.co/lBIEZWqJV3
  • Heads Up:🇫🇷 Consumer Confidence (SEP) due at 06:45 GMT (15min) Expected: 94 Previous: 94 https://www.dailyfx.com/economic-calendar#2020-09-29
  • EUR/JPY IG Client Sentiment: Our data shows traders are now net-long EUR/JPY for the first time since Aug 31, 2020 when EUR/JPY traded near 126.39. A contrarian view of crowd sentiment points to EUR/JPY weakness. https://www.dailyfx.com/sentiment https://t.co/1NGoTgKsbL
  • #CrudeOil and #Gold prices gained over the past 24 hours on US fiscal stimulus hopes Now they are awaiting a key meeting between Nancy Pelosi and Steven Mnuchin later today What are key technical levels to watch for? - https://www.dailyfx.com/forex/fundamental/daily_briefing/daily_pieces/commodities/2020/09/29/Crude-Oil-Prices-Down-to-3-Month-Low-on-Fed-Policy-Seasonal-Turn.html?CHID=9&QPID=917702&utm_source=Twitter&utm_medium=Dubrovsky&utm_campaign=twr https://t.co/0nYq05le3s
  • Have you been catching on your @DailyFX podcast "Global Markets Decoded"? Catch up on them now, before new episodes release! https://t.co/Twr44cZ1GB https://t.co/kWoRBJxt7u
DAX on Verge of Falling into Air Pocket

DAX on Verge of Falling into Air Pocket

2017-07-07 08:56:00
Paul Robinson, Strategist
Share:

What’s inside:

  • DAX turns lower from resistance, April gap-fill risk growing rapidly
  • Gap is from 12289 down to 12048
  • Would require a strong break above 12486/537 to put outlook on hold

Find out where our analysts see global equity markets heading in our Q3 Quarterly Forecast.

On Tuesday, we expressed our view that the DAX is at serious risk of filling the gap from the first round of the French presidential elections in April. Earlier in the week, risk/reward was compelling for shorts given the retest taking shape of broken support in the vicinity of 12486/537 and proximity for a stop (just above resistance) and target (gap-fill).

With the market having turned strongly lower yesterday, the next focus is on support by way of the 6/30 low at 12319, but more importantly the 4/24 gap-day low of 12289. A break and close below the gap-day low and the air pocket extends down to 12048. It could happen all in one flush (not uncommon when in gaps), or it could take its time like the CAC 40 is right now. In either event, once in the gap – look for it to get filled.

What will undercut this view? A strong daily close above the beforementioned resistance zone of 12486/537. This wouldn’t necessarily create an outright bullish situation, but it would at the very least put the ‘gap-trade’ on hold.

Heads up – We’ve have some potentially market-moving data later today when the June U.S. jobs report is released at 12:30 GMT. It’ll have the most impact on U.S. index futures, but if we see a sizable move in the S&P 500 futures the DAX will on some level feel the impact. For details, please see the economic calendar.

DAX: Daily

DAX on Verge of Falling into Air Pocket

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.

DISCLOSURES