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 14.03.2017
Yesterday was quite a nervous day on stock markets in Europe. Theresa May will start at the end of March procedure of leaving EU by UK, today there are elections in the Netherlands and in the evening we will know the decision of the FOMC regarding interest rates, as well as the latest macroeconomic projections and plans for future increases in the US.
DAX retreated in the vicinity of support 11,900 pts, than returned to the vicinity of 12,000 pts. and its value remained practically unchanged compared to Monday’s session. Today, due to the decisions of the Federal Reserve, we can have the same situation on market.
DAX Intraday
Index broke the 12,000 level and now the next support is a pivot point in the vicinity of 11,980 pts, which broken opens way to S1 in the vicinity of 11,940 points. In turn, crossing area of 12,000 points could trigger a movement in direction of R1 in the vicinity of 12,030 points.
Key data for DAX
19:00 – Decision FOMC ws. Rates
19:00 – macroeconomic projections of the FOMC
19:30 – Press conference after the FOMC meeting
