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.

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
Wall Street
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
More View more
Real Time News
  • A currency carry trade involves borrowing a low-yielding currency in order to buy a higher yielding currency in an attempt to profit from the interest rate differential. Find out if the carry trade suits your trading style here: https://t.co/7t4BzmLg8w https://t.co/v6RGICQvge
  • Get your snapshot update of the of top level exchanges and key index performance from around the globe here: https://t.co/d8Re5anlG5 https://t.co/rws9LHJV3E
  • RT @FxWestwater: Japanese Yen Forecast: JPY Crosses Eye BoJ, CPI as Haven Flows Bolster Yen Strength Link: https://www.dailyfx.com/forex/fundamental/forecast/weekly/jpy/2021/09/18/Japanese-Yen-Forecast-JPY-Crosses-Eye-BoJ-CPI-as-Haven-Flows-Bolster-Yen-Strength.html?CHID=9&QPID=917708&utm_source=Twitter&utm_medium=Westwater&utm_campaign=twr https:/…
  • 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/FVisZuTP6M
  • Stocks appear to be in a corrective phase but could get put to the test; levels and lines to watch in the days ahead. Get your weekly equities forecast from @PaulRobinsonFX here: https://t.co/H1BaTlIHjY https://t.co/zP3mjfslSD
  • Currency exchange rates are impacted by several factors. Are different world leaders a contributing factor? Find out here: https://t.co/4jsORznRTE https://t.co/Of1thU4zXw
  • Further your forex knowledge and gain insights from our expert analysts on AUD with our free guide, available today: https://t.co/p2FhEwym1E https://t.co/MjiYB85TSF
  • Many people are attracted to forex trading due to the amount of leverage that brokers provide. Leverage allows traders to gain more exposure in financial markets than what they are required to pay for. Learn about FX leverage here: https://t.co/BdgFmkRxVw https://t.co/fIO9TP7D62
  • Trading Forex is not a shortcut to instant wealth, excessive leverage can magnify losses, and sentiment is a powerful indicator. Learn about these principles in depth here: https://t.co/lZFM8youtX https://t.co/Xja8DHUqlH
  • Risk management is one of the most important aspects of successful trading, but is often overlooked. What are some basic principles or risk management? Find out from @PaulRobinsonFX here: https://t.co/IsnpfJhp91 https://t.co/9po5Lg4vnR
DAX Technical Outlook: Bounce Turn Into a Rally or Roll Over?

DAX Technical Outlook: Bounce Turn Into a Rally or Roll Over?

Paul Robinson, Strategist

DAX Technical Highlights:

  • DAX rallying into resistance zone
  • Lower-high or rally gain legs, soon find out

For a broader fundamental and technical outlook on major markets, and to see how our Top Trading Opportunities for 2018 are performing, check out the DailyFX Trading Guides.

The recent decline found buyers around 12600, an area which was previously resistance in April. The move thus far hasn’t been the most powerful, and begs the question as to whether the market is trying to get its legs under it or is simply in a corrective move that could turn into a deeper decline off last month’s high.

Resistance surrounding 12900 could at the least prove problematic in either case, so how a turn down from there, should one develop, will be watched keenly for further indications. A turn down will have a trend-line off the March low quickly in focus, but it’s not yet viewed as the most steadfast line at this time.

A push through the 12900-area will have a minor gap-day reversal high at 13041 in focus, followed by the trend-line of the record high, then trailed up by 13204. It seems the market will need some help to rally to and through that final level: via strong global risk appetite and/or euro weakness to again act as a boon for Eurozone equity markets.

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

DAX Daily Chart (Turn down again soon?)

DAX daily chart with levels and lines to watch, turn down soon or rally?

Tactically, for those looking to short, the area just ahead could offer a good backstop for assessing stops while looking for another leg lower to develop. On the flip-side, longs need to focus on the recent lows and to a lesser degree the trend-line extending higher since March.

Overall, the picture isn’t the cleanest at the moment, and conviction isn’t the highest from either side of the tape. We saw a big move out of European indices during April/May, extended slides out of currencies tied to those indices – we are in a bit of an ‘in-between’ period at the moment.

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

You can follow Paul on Twitter at @PaulRobinsonFX

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

DISCLOSURES