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

Summary session 10/19/2016

Yesterday we had another bullish sessions on the Frankfurt Stock Exchange. Today, the number one event will be the ECB meeting. Rather, we expect that the bank will not take any decisions today, maybe it can happen in December that ECB may attempt to extend QE program.

DAX Index yesterday reached the vicinity of resistance 10700 pts and today after small increases in the morning continues downward correction.

dax30daily-14-1

DAX Intraday

Let’s see how the situation looks on intraday chart M15. The index failed to break the resistance level at around 10,700 points. Then broke the local level of support 10670 pts., which should now act as resistance, which may be a harbinger of further declines in the vicinity of the support formed by the pivot point in the area of 10640 points.

dax30m15-13-1

Key data for DAX

13:45 – ECB decision Interest rates in the euro zone

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