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.

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
EUR/USD
Bullish
Oil - US Crude
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
Wall Street
Mixed
Gold
Mixed
GBP/USD
Mixed
USD/JPY
Bullish
More View more
Real Time News
  • What's the difference between leading and lagging indicators? Find out from here: https://t.co/vGx8HCagF5 https://t.co/4DGXwA8vqs
  • Struggling to define key levels? Floor-Trader Pivots assist traders in identifying areas in a chart where price is likely to approach and can be used to set appropriate targets, while effectively managing risk. Learn how to use this indicator here: https://t.co/Ye4m1FMKUW https://t.co/mAMhWbV6Jy
  • Make smart trading decisions with your free guide to trade the news. Download your free guide here.https://t.co/pb5E2KgRzW #DailyFXGuides https://t.co/E9ZmJvqO0z
  • 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/fqxw1AoKc1
  • Gold snapped a two-week losing streak but keeps price within the broader August downtrend. These are the levels that matter on the $XAUUSD weekly chart. Get your market update from @MBForex here: https://t.co/B3Jct6mIBD https://t.co/xTGIM2hRBv
  • $GBPUSD continues to move higher, despite Friday’s weakness, as vaccination hopes continue to fuel positive sentiment despite ongoing lockdown fears and downbeat UK data. Get your market update from @nickcawley1 here: https://t.co/S8UoHzOwFN https://t.co/qI6UZdggvM
  • 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/6wxX6oQurn
  • 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: https://t.co/e4CnobJCss https://t.co/w009tJEQZn
  • Looking for a new way to trade reversals? One of the most used reversal candle patterns is known as the Harami. Like most candlestick formation patterns, the Harami tells a story about sentiment in the market. Get better with trading reversals here: https://t.co/rfwUWJfbz9 https://t.co/2AeO1AdD2M
  • MACD who? The Moving Average Convergence Divergence (MACD) is a technical indicator which simply measures the relationship of exponential moving averages (EMA). Find out how you can incorporate MACD into your trading strategy here: https://t.co/ZNs4Qi8ieG https://t.co/INJz4NSugQ
DAX 30 Has Solid Short-term Levels to Operate With

DAX 30 Has Solid Short-term Levels to Operate With

Paul Robinson, Strategist

DAX 30 Technical Highlights

  • DAX 30 has clean short-term levels for traders to watch
  • Should we see another swoon, big backstop to watch

DAX 30 has clean short-term levels for traders to watch

The recent low in the DAX came at a major set of long-term levels, dating all the way back to the early 1980s. A trend-line from 1982 intersects with the tops from 2000 and 2007. This combo provides a really strong level of confluent support.

Looking at the short-term picture, the DAX is starting to roll over again after stalling back on March 25. The stalling price action has created a range that goes along with a few other clear levels to help guide traders through volatile trading conditions.

The thinking is that there is still some more upside left before selling potentially turns aggressive again. If this is to be the case, then the bottom of the range at 9453 should hold on weakness here before price rallies beyond 9951 in an attempt to fill the March 12 gap at 10412 (red line), and possibly higher.

If, however, the bottom of the range fails, then the next level of support around 9150 is likely to be met. This is a fairly substantial short-term threshold with its numerous touch points (green circles) since March 12. A drop through there opens up a path for more weakness to the March 24 gap down to 8717 (red line), followed by a minor pivot at 8480.

A reach down into those depths around the double-bottom low at 8255 will have the long-term confluent support back into play, and a likely spot for the DAX to hold for another rebound. For now, though, not thinking we will see those depths tested. The more likely outcome appears to be either hold the range, or probe a little lower before trying to trade higher.

Top Trading Lessons
Top Trading Lessons
Recommended by Paul Robinson
Find Out the #1 Mistake Traders Make
Get My Guide

DAX Hourly Chart (levels to watch)

DAX hourly chart

DAX 30 Monthly Chart (log-scale)

DAX monthly chart

DAX Charts by TradingView

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.

DISCLOSURES