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
More View more
Real Time News
  • Heads Up:🇺🇸 Continuing Jobless Claims (24/JUL) due at 12:30 GMT (15min) Expected: 3260K Previous: 3269K
  • Forex Update: As of 12:00, these are your best and worst performers based on the London trading schedule: 🇦🇺AUD: 0.42% 🇳🇿NZD: 0.36% 🇨🇦CAD: 0.31% 🇪🇺EUR: 0.11% 🇨🇭CHF: 0.10% 🇯🇵JPY: -0.04% View the performance of all markets via
  • Heads Up:🇺🇸 Jobless Claims 4-week Average (JUL/31) due at 12:30 GMT (15min) Previous: 394.5K
  • Heads Up:🇺🇸 Initial Jobless Claims (31/JUL) due at 12:30 GMT (15min) Expected: 384K Previous: 400K
  • Heads Up:🇺🇸 Balance of Trade (JUN) due at 12:30 GMT (15min) Expected: $-73.9B Previous: $-71.2B
  • Heads Up:🇨🇿 CNB Interest Rate Decision due at 12:30 GMT (15min) Expected: 0.75% Previous: 0.5%
  • Heads Up:🇨🇦 Balance of Trade (JUN) due at 12:30 GMT (15min) Expected: C$-0.8B Previous: C$-1.39B
  • - The Bank Rate is the BoE's main policy tool for altering monetary conditions - Impact of reducing stock of BoE assets is uncertain
  • BoE's Bailey - After furlough period expires, we do not see an increase in unemployment - Job openings and labour market tightness are becoming more evident
  • 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:
DAX 30 Technical Outlook – Upside Not Without its Obstacles

DAX 30 Technical Outlook – Upside Not Without its Obstacles

Paul Robinson, Strategist

DAX 30 Technical Highlights

  • DAX has confluence of trend-lines as resistance
  • Global appetite for stocks supportive
  • 12100 may again be important on weakness

See what has been driving the DAX & Euro in the Quarterly Report.

DAX has confluence of trend-lines as resistance

Last week when we last looked at the DAX it was working on breaking through resistance around the 12100 mark, but now faces perhaps an even bigger challenge. The trend-lines running up from the Feb 2016 low (end of last major correction) and off the June high are in confluence, presenting a problematic hurdle to overcome.

So far, we aren’t seeing a sharp decline off Friday’s touch of resistance, but should momentum pick up it could end up as more than just a pullback, and yet another leg lower in the sequence of lower lows and lower highs since the summer.

However, global trends remain supportive for stocks, with the world’s largest stock market (U.S.) hanging out in record territory, the Nikkei having posted strong gains the past couple of weeks, and even the FTSE, which had been so weak, is showing a fair amount of life. This general theme of strength has recently spread to Euro-zone stock, too, and could keep the DAX buoyed or better.

The trend-line running down off the July high was breached on Friday and is up first as support, but the more important area to hold is around 12100. This is still viewed as a significant area of interest for the market and could offer a solid line-in-the-sand upon another test.

For market sentiment and to learn more about how to use it in your analysis, check out the IG Client Sentiment page.

DAX Daily Chart (Feb ’16, June t-lines)

DAX daily chart, t-line resistance, 12100 support

Want to learn more about trading the DAX? Check out ‘How to Trade the DAX’, and join me weekly for technical updates in the Indices and Commodities webinar.

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.