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.

Free Trading Guides
EUR/USD
Bullish
Oil - US Crude
Mixed
Wall Street
Bullish
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
Gold
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
GBP/USD
Mixed
USD/JPY
Bullish
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
  • The #Euro is the big driver here for DXY as it is 57% of the index. It is rising now and trying to break above the March 27 high at 11147. Get your $EURUSD technical analysis from @PaulRobinsonFX here:https://t.co/6gt3F9LuGP https://t.co/73SaL5AeXD
  • U.S. Market Analyst at https://t.co/JsVsSmefgR, Shain Vernier covers - ✔️ Safe haven assets in volatile markets ✔️ Central banks and governments ✔️ How will commodities trade in a recession Only on Trading Global Markets Decoded #podcast. Tune in here: https://t.co/1UmEzEbwiy https://t.co/EIC9YqfTec
  • Anybody else think that casting directors in movies are some of the most underrated people when it comes to giving a film/series credit?
  • No https://t.co/EoBltaP17k
  • Crude #oilprices may face heightened liquidation pressure as the cycle-sensitive #commodity finds itself under the pressure of resilient resistance and a vulnerable, multi-week rising channel. Get your crude #oil market update from @ZabelinDimitri here: https://t.co/cGPX4qcOH1 https://t.co/0U4JMJVFuf
  • The @ecb will likely boost its Pandemic Emergency Purchase Program at Thursday’s meeting of its Governing Council; a move that could give the #Euro a lift. Get your currencies market update from @MartinSEssex here: https://t.co/I4PbmJNG1z https://t.co/hu6Ld1KdDB
  • $GBPUSD doesn’t have the cleanest set of technical indications, but #USD may give indications if it can break its trading range via the $DXY. Get your currencies market update from @PaulRobinsonFX here: https://t.co/PrC9wAaXvU https://t.co/vHYHflwqR3
  • The ongoing contraction in US production may keep #oilprices afloat in June as crude output falls to its lowest level since October 2018. Get your crude #oil market update from @DavidJSong https://t.co/jj1bMLX0DF https://t.co/O9NOqbfHkb
  • watching the #SpaceX launch🍿
  • Major investment bank models have touted USD selling, given the outperformance in US equities relative to its counterparts over the past month. How is this likely to impact the month-end rebalancing? Find out from @JMcQueenFX here:https://t.co/MtNrHmXZpD https://t.co/d00z4019XE
DAX 30 To Regain Yesterday’s Losses?

DAX 30 To Regain Yesterday’s Losses?

2016-03-18 10:24:00
Alejandro Zambrano, Market Analyst
Share:

Talking Points

  • The DAX 30 maintains a bullish bias above last week’s low of 9397.
  • We keep an eye on European bank shares as financials weigh heavy on the DAX.
  • Volatility in the DAX may pick up this afternoon, following the publication of the University of Michigan Confidence report.

The DAX 30 is slightly lower in relation to this week’s high of 10.068, but it keeps its bullish bias since mid-February. The overall trend is bullish above the ECB rate meeting low of 9397.

We note that Financials have been weighing on the DAX 30 and we will be keeping an eye on the shares of European banks such as Deutsche bank, HSBC, and BNP Paribas. These shares have traded lower in the aftermath of last week’s ECB rate cuts. Should the bank shares resume their bearish trend, then this may hint at a weaker DAX 30.

For now though, the trend is buoyant above last week’s low of 9397 and price might reach the January 13 high of 10,166, followed by the January 5 high of 10,395.

As highlighted yesterday, the pullback in the DAX may, in the current environment of easy monetary policy by central banks, be perceived as an opportunity to add to long positions.

Should the DAX slide below last Thursday’s low of 9397 however, then the trend may turn bearish and reach the February 24 low of 9122, followed by the February 11 low of 8705.

Volatility in the DAX may pick up this afternoon, as the University of Michigan Confidence report is published and on speeches by Fed's Dudley and Rosengren. The day concludes with the Baker Hughes U.S. Rig Count. See our economic calendar.

Download the DailyFX Analysts' 1Q forecasts for the Dollar, Euro, Pound, Equities and Gold

DAX 30 | FXCM: GER30

Please add a description for the image.

Created with Marketscope/Trading Station II; prepared by Alejandro Zambrano

--- Written by Alejandro Zambrano, Market Analyst for DailyFX.com

Contact and follow Alejandro on Twitter: @AlexFX00

Struggling with Trading? Join a London Seminar

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

DISCLOSURES

News & Analysis at your fingertips.