DAX is one of the most popular indices in the world. It is noted on the Frankfurt Stock Exchange. Every day there is a very high volatility which gives many trading opportunities.

Summary session 10/14/2016

European indices ended the last day of the week in positive territory after strong data on consumer inflation in China. However in the afternoon we had also good data from the US and again came to life fears of interest rate hikes in the US. New week European indices are starting on minus.

More technical analysis from Admiral Markets

On Friday the DAX broke the level of 10500 – 10550 pts, which could signal further increases. Unfortunately today the index opened with a downward gap and is struggling to stay above the same level.

dax30daily-11

DAX Intraday

Let’s see how the looks situation on the intraday chart M15. Index remains in the area of 10550 points., and on the chart is forming a pin bar, which may indicate an upward movement to the vicinity of 10600 points or in the region of Friday closing. Any breakout of 10520 points of today’s low will be a signal of potential falls in the vicinity of the support S1 10480 points.

dax30m15-10

Key data for DAX

  • 11:00 – Consumer inflation in the euro zone
  • 19:35 – Speech by ECB chief (Mario Draghi)
Error, group does not exist! Check your syntax! (ID: 3)