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German DAX Likely to Hit Fresh Highs

German DAX Likely to Hit Fresh Highs

David Rodriguez, Head of Product


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German DAX– Retail traders remain heavily short the GER30—a CFD contract which tracks the German DAX—and a contrarian view of crowd sentiment points to further DAX gains.

Our data shows there are currently 1.6 open short positions for every 1 long; 61 percent of positions are short. This represents a moderation from extremes of 2.4 to 1 seen just several days ago. Yet we would need to see a much sharper turn towards buying to call for a meaningful reversal in the DAX.

We will continue to watch for further GER30 gains until we see a larger shift in crowd positioning.

See next currency section: S&P - S&P 500 Remains a Buy until this Changes

--- Written by David Rodriguez, Quantitative Strategist for

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