DAX is one of the most popular indices in the world. It is listed on the Frankfurt Stock Exchange. Virtually every day there is very high volatility which gives ample of trading opportunity.
Summary of session 07.02.2017
Volatility is rather small, markets are waiting for results of tomorrow’s ECB meeting and Friday’s data from the US labor market. Today we will have a foretaste of Friday’s emotions, because ADP will present its report on the US labor market. Although the correlation between the ADP report and government data is overrated, still investors pay attention to the details of this private company. Today, we’ve looked at the data of industrial production in Germany, which turned out better than expected, but not yet translated it into a move on the index DAX.
The index still remains above level of 11,900 points. Breaking it would mean a move towards 11,800 points. In turn, breaking over than 12,000 points will mark the end of correction and return to growth.
DAX Intraday
The index is consolidating around the S1 11,925 points. Breaking this area probably will bring DAX toward the S2 in the vicinity of 11,900 points. In turn, reaching more than today’s highs near 11,940 points should open way to a pivot point in the vicinity of 11,960 points.
Key data for DAX
14:15 – Report ADP
