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. See our updated Privacy Policy here.



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
Please try again
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
More View more
Real Time News
  • RT @FxWestwater: Australian Dollar Forecast: $AUDUSD Action May Swing on Chinese Industrial Profits Link: https://…
  • Central banks often deem it necessary to intervene in the foreign exchange market to protect the value of their national currency. Learn how central bank intervention can impact your trading here:
  • The Consumer Price Index, better known by the acronym CPI, is an important economic indicator released on a regular basis by major economies to give a timely glimpse into current growth and inflation levels. Learn how to better understand CPI here:
  • *Reminder: Weekly Strategy Webinar tomorrow morning at 8:30am ET on DailyFX!
  • (Weekly Fundy) Crude Oil May Rise as Covid Case Growth Slows. WTI Eyes OPEC Outlook, Evergrande #CrudeOil #WTI #OPEC #Evergrande
  • Recessions can devastate the economy and disrupt the fortunes of individuals, businesses, and investors. But economic decline in the business cycle is inevitable, and your trading can be defined by how you respond to crisis. learn how to prepare here:
  • We are heading into the final trading days for the month of September and event risk thins out amid the $SPX's rebound. This is what history says for the 39th week of the year and here is my take on the variable factors:
  • Further your forex knowledge and gain insights from our expert analysts on AUD with our free guide, available today:
  • The ISM manufacturing index plays an important role in forex trading, with ISM data influencing currency prices globally. Find out about the recent history of ISM data, how to track it, and how to trade its release here:
DAX Technical Analysis – Selling Continues, August Low in Sight

DAX Technical Analysis – Selling Continues, August Low in Sight

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.