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Dax40

Don't give up on the DAX just yetYes, the DAX is clearly within an established downtrend on the daily chart. And its drawdown from its record high is relatively shallow at just -11.5% by historical standards - meaning we suspect further losses could be coming. Yet its failure to break beneath the December high and March low has not gone unnoticed. And given it formed a bullish hammer around these key level with a mild bullish RSI divergence, we see the potential for some mean reversion over the near term. Keep in mind that we have flash PMIs for the US and Europe today along with a speech from ECB President Lagarde, US GDP, PCE inflation and a Jerome Powell speech also in focus this week. And that leaves plenty of room for volatility for global markets.
XETR:DAXLong
by CityIndex
Will DAX turnaround today?DE30EUR - 24h expiry We are trading at oversold extremes. Although the bears are in control, the stalling negative momentum indicates a turnaround is possible. Bullish divergence can be seen on the daily (the chart makes a lower low while the oscillator makes a higher low), often a signal of exhausted bearish momentum, or at least a correction higher. A Doji style candle has been posted from the base. A break of the recent high at 14920 should result in a further move higher. The primary trend remains bullish. We look to Buy a break of 14922 (stop at 14822) Our profit targets will be 15172 and 15232 Resistance: 14920 / 15000 / 15100 Support: 14780 / 14700 / 14600 Risk Disclaimer The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit. You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
OANDA:DE30EURLong
by OANDA
DAX continues in the downward move.DE30EUR - 24h expiry Our short-term bias remains negative. There is no clear indication that the downward move is coming to an end. 15100 has been pivotal. Bespoke resistance is located at 15100. The preferred trade is to sell into rallies. 20 4-hour EMA is at 15080. We look to Sell at 15098 (stop at 15198) Our profit targets will be 14848 and 14788 Resistance: 14981 / 15100 / 15200 Support: 14916 / 14800 / 14700 Risk Disclaimer The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit. You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
OANDA:DE30EURShort
by OANDA