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.

Free Trading Guides
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
  • US 69-Day Bills Draw 0.07% Primary Dealers Awarded: 33.0% Indirect Bidders Accepted: 65.9% Direct Bidders Accepted: 1.1% B/C Ratio: 2.87
  • NYC covid-19 deaths rise to 932 from 914 $SPX
  • US consumer confidence sank for the month of March according to the Conference Board, coming in at 120.0 from 132.6. How is this impacting $USD? Find out from @FxWestwater here: https://t.co/dV5s2sqY0y https://t.co/aN0TPDibYT
  • Trump says low rates make it a good time for infrastructure spending $SPX
  • El dólar ( $USD) se beneficia del fin de trimestre, EUR/USD por debajo de 1.10 #eur #usd #trading https://t.co/L7TTcCMGQX
  • Trump calls for 2 trillion worth of infrastructure in next virus stimulus package $DXY $SPX
  • RT @realDonaldTrump: With interest rates for the United States being at ZERO, this is the time to do our decades long awaited Infrastructur…
  • Forex Update: As of 14:00, these are your best and worst performers based on the London trading schedule: 🇬🇧GBP: -0.21% 🇯🇵JPY: -0.33% 🇨🇦CAD: -0.59% 🇪🇺EUR: -0.77% 🇦🇺AUD: -0.87% 🇳🇿NZD: -1.06% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/kqLBn85GQc
  • Here comes the month end - $GBP whack!!!
  • Bitcoin Price Outlook: BTC/USD Recovery Faces A Key Resistance Level More details in the link below: https://www.dailyfx.com/forex/technical/article/special_report/2020/03/31/Bitcoin-Price-Outlook-BTCUSD-Recovery-Faces-A-Key-Resistance-Level-MK.html?CHID=9&QPID=917714 https://t.co/jLaqew85E2
DAX Technical Analysis – Selling Continues, August Low in Sight

DAX Technical Analysis – Selling Continues, August Low in Sight

2018-02-09 12:35:00
Paul Robinson, Strategist

DAX Highlights:

  • DAX quickly erased gap-down recovery with help of U.S. markets
  • If selling doesn’t ease up soon, looking to 11935/868 as possible support
  • Short-term traders market with volatility so high

For longer-term fundamental and technical analysis on the DAX & Euro, and our top trade ideas for 2018, check out the DailyFX Trading Guides page.

Tuesday’s gap-down reversal produced one decent up-day for the DAX, but the recovery from that morning gap through yesterday was wiped away yesterday in one fell-swoop. The selling was only modest on Thursday until U.S. markets opened higher and swiftly soured risk sentiment.

If selling continues, stability might not be found until price support around the 11935/868-area is met, the low from August. At that juncture the market will be quite oversold and at least have an important swing-low to lean on should we see the DAX reverse back higher.

As far as finding a bottom, catching falling knives is a dangerous business. The safest approach is to wait for a large bounce with a modest retracement or rejection of a low already formed. An event which looked possible heading into yesterday until the late-day carnage. If today, the DAX can mount a reversal and close above the Tuesday low, a successful retest may be in. If no reversal, look for aforementioned support from August on further weakness.

From a tactical standpoint, it’s a short-term traders market with volatility having more than doubled in the past month. Two-way trading with a downward bias remains the theme until we see some type of capitulation bottom, from which a larger recovery can mount.

Check out this guide for ideas on Building Confidence in Trading

DAX Daily Chart

DAX daily price chart

Trader Resources

Whether you are a new or experienced trader, we have several resources available to help you; indicator for tracking trader sentiment, quarterly trading forecasts, analytical and educational webinars held daily, trading guides to help you improve trading performance, and one specifically for those who are new to forex.

---Written by Paul Robinson, Market Analyst

To receive Paul’s analysis directly via email, please SIGN UP HERE

You can follow Paul on Twitter at @PaulRobinsonFX

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


News & Analysis at your fingertips.