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
Wall Street
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
  • It seems the markets are riding high, but risk is always lurking around the corner. Consider your escape plan before you find yourself in collapsing market. What are the top havens for different conditions in 2021? Find out from @JohnKicklighter here:
  • Angola to cut November oil exports to lowest since at least 2008 - Angola exported 1.1mbpd of crude oil in September, according to Refinitiv
  • ECB's Kazaks - The 2% price target will not be met in the medium term - Inflation outlook likely to be revised higher
  • Emotions are often a key driving force behind FOMO. If left unchecked, they can lead traders to neglect trading plans and exceed comfortable levels of risk. Read on and get your emotions in check here:
  • ECB's De Cos says conclusion of FT report is incompatible with ECB guidance $EUR
  • 💶 Inflation Rate YoY Final (AUG) Actual: 3% Expected: 3% Previous: 2.2%
  • 💶 Inflation Rate MoM Final (AUG) Actual: 0.4% Expected: 0.4% Previous: -0.1%
  • 💶 Core Inflation Rate YoY Final (AUG) Actual: 1.6% Expected: 1.6% Previous: 0.7%
  • Heads Up:💶 Inflation Rate YoY Final (AUG) due at 09:00 GMT (15min) Expected: 3% Previous: 2.2%
  • Heads Up:💶 Inflation Rate MoM Final (AUG) due at 09:00 GMT (15min) Expected: 0.4% Previous: -0.1%
DAX Chart Outlook – Overhead Levels to Watch; Big-picture Top Forming?

DAX Chart Outlook – Overhead Levels to Watch; Big-picture Top Forming?

Paul Robinson, Strategist

DAX Technical Highlights:

  • Bounce or beginning of a larger rally?
  • Resistance to watch ahead on further strength
  • Longer-term topping pattern developing?

Check out the DailyFX Q2 Forecasts for the DAX, Euro, and other major markets; see how our Trading Opportunities for are 2018 doing too – DailyFX Trading Guides.

Bounce or beginning of a larger rally?

Not long ago the DAX looked headed for another major leg lower, with it already precariously positioned and U.S. markets on the verge of a breakdown. But the U.S. held, the DAX has since been surprisingly strong. Is it just a bounce or beginning of a rally?

Still leaning towards a bounce, with short-term levels in focus. There are several lines/bands of resistance not far ahead to keep an eye on beyond current struggles around the mid-March swing-high. A swing-high in Feb at 12601 is first up on another push higher, followed shortly thereafter by the 200-day at 12660, then lows developed during the Nov-Jan period.

It appears one of those areas will provide reason for the DAX to pull back, at the least. How price action plays out will be what matters. We’ll be waiting for a forceful rejection before we consider sharpening our bear claws. Initially, it may only turn out to be a pullback, but…

See this guide for 4 ideas on how to Build Confidence in Trading.

DAX Daily Chart (Resistance levels to watch)

DAX daily chart with resistance levels

Longer-term topping pattern developing?

There is potential for quite the topping pattern to develop. This, of course, without it having fully matured is only a scenario, but a head-and-shoulders formation is beginning to come into view. The current period of chopping around/strength would, should it form, act as the right shoulder.

It’s too early to get too excited about its prospects, but certainly worth keeping on the backburner moving forward. Given its beginnings date back to June, the size of the pattern would imply a major decline is on the way. We’ll discuss this in further detail should it become relevant. For now, we’re focusing on levels close at hand. Don’t forget to keep an eye on the U.S. market too as a measure of general risk trends.

DAX Weekly Chart (Head-and-shoulders forming?)

DAX weekly chart with head-and-shoulders potential

Forex & CFD 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.