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
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
Oil - US Crude
Mixed
Wall Street
Mixed
Gold
Mixed
GBP/USD
Bearish
USD/JPY
Bullish
More View more
Real Time News
  • Traders utilize varying time frames to speculate in the forex market. The two most common are long- and short-term-time frames which transmits through to trend and trigger charts. Learn more about time-frame analysis here: https://t.co/9S5tXIs3SX https://t.co/IgUIG55MbH
  • Supply constraints, rebounding global demand and rising inflation expectations may drive crude oil prices higher in the near term. Get your market update from @DanielGMoss here: https://t.co/ezPoAwcJt7 https://t.co/NMfk1cYSvE
  • Take a closer look visually at the most influential global importers and exporters here: https://t.co/G58J1dg6y3 https://t.co/OiRiBVeuzL
  • Crude Oil Prices Aiming Higher on OPEC Surprise, Inflation Expectations - https://www.dailyfx.com/forex/fundamental/forecast/weekly/title/2021/03/06/Crude-Oil-Prices-Aiming-Higher-on-OPEC-Surprise-Inflation-Expectations.html?CHID=9&QPID=917708&utm_source=Twitter&utm_medium=Moss&utm_campaign=twr $CL #Crudeoil #OOTT #OPEC https://t.co/AKvXWX9DLQ
  • Given the size of the rally in the eleven months preceding the beginning of the current decline a broader sell-off looks warranted. Get your market update from @PaulRobinsonFX here: https://t.co/UxZiSulpwB https://t.co/raXvlzkGbV
  • Greed is a natural human emotion that affects individuals to varying degrees. Unfortunately, when viewed in the context of trading, greed has proven to be a hindrance more often than it has assisted traders. Learn how to control greed in trading here: https://t.co/kODPAfJE79 https://t.co/lp0tmKS9WR
  • Trading bias allows traders to make informative decisions when dealing in the market. This relates to both novice and experienced traders alike. Start learning how you may be able to make more informed decisions here: https://t.co/rz7fqhRoMG https://t.co/3bOSIBeID9
  • Rising yields and US Dollar creates a weak environment for gold, which trades at a 9-month low. Get your market update from @JMcQueenFX here: https://t.co/lh6Qb2qxin https://t.co/MRAYe57e1A
  • RT @FxWestwater: US Dollar Fundamental Forecast: US Dollar Eyes Inflation Data After NFP Boost Link: https://www.dailyfx.com/forex/fundamental/forecast/weekly/usd/2021/03/06/US-Dollar-Fundamental-Forecast-US-Dollar-Eyes-Inflation-Data-after-NFP-Boost.html?CHID=9&QPID=917708&utm_source=Twitter&utm_medium=Westwater&utm_campaign=twr $DXY https://…
  • Forex liquidity makes it easy for traders to sell and buy currencies without delay, and also creates tight spreads for favorable quotes. Low costs and large scope to various markets make it the most frequently traded market in the world. Learn more here: https://t.co/arxYmtQeUn https://t.co/NvEAeWkBP1
DAX – Even in Record Territory Resistance Can be Found

DAX – Even in Record Territory Resistance Can be Found

Paul Robinson, Strategist

What’s inside:

  • DAX closes to a new record high, but not necessarily a reason for ‘excitement’
  • A pair of top-side trend-lines could prove problematic in the area of 13000/100
  • It may not help put in a meaningful top, but could at least dent the multi-week surge

Find out what is expected to drive markets into year-end in the DailyFX Quarterly Forecasts.

We’ve been constructive on Eurozone equity benchmarks for a few weeks now and in hindsight perhaps not as bullish as we should have been given the important breaks we saw in both the DAX and CAC (DAX above 12300, CAC ‘bull-flag’ breakout). The rallies to date since crossing key thresholds have been impressive, with the DAX closing at a new record high yesterday and the CAC staring down the 9-yr+ highs notched in May.

Buyers need to beware at this juncture, though. At first glance, buying new record highs might seem appealing (after all, everything is great, right?), but in our experience, in the long-run, equity indices are best entered on dips or during periods of consolidation versus chasing momentum. Reasoning for not chasing at this point, despite new record levels, is stronger now than at other times.

Even in record territory resistance can exist. Just over the psychological level of 13k lies a top-side trend-line connecting the 2015 and June peaks. Not much further beyond there lies a really long-term top-side trend-line around the 13100-mark. It extends from the 2000 high over the 2015 high. These two lines make the 13000/100 quite important.

These levels might not mark a major turning point, but could put a dent in the recent rally. Depending on how a pullback unfolds from those top-side trend-lines will help determine whether it’s a ‘buy-the-dip’ opportunity or a deeper retrenchment in progress.

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

DAX: Daily

DAX – Even in Record Territory Resistance Can be Found

Weekly

DAX Weekly Chart

---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