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 10/20/2016

Yesterday we saw high volatility in the pairs with the Euro and on the Frankfurt Stock Exchange. The main event of the day was meeting of the European Central Bank which has not changed interest rates and the asset purchase program parameters. Mario Draghi at the ECB press conference after the meeting said that the abrupt termination of the program QE is unlikely what caused sudden weakening of the single currency and moved index DAX up.

More technical analysis from Admiral Markets

DAX defended yesterday the level of support at around 10550 points and is now fighting to break the resistance level at around 10700 – 10750 points.

DAX Intraday

Let’s see at the situation on the intraday chart M15. Index defended the level of the pivot point and is moving towards resistance at around 10750 points. If we could break this level price should move toward the R1 close to 10780 points. Today may be difficult to break important resistance due to the end of the week and lack of relevant data for Europe.