DAX is one of the most popular indexes in the world. It is listed on Frankfurt Stock Exchange. Virtually every day there is very high volatility which gives many trading opportunities.


Session Summary 29.03.2017

Yesterday United Kingdom launched procedure for exiting the European Union in accordance with Article 50 of the Treaty of Lisbon. Recently Article 50 has been altered by all cases, so the markets haven’t reacted in some special way to this information, and the UK has two years to officially leave the EU. Yesterday markets also received message that the ECB is not going to tighten monetary policy, and the last hawkish voices from the bank have been misinterpreted. This information evidently enjoyed share market and weakened the euro.

The DAX index rose yesterday by 0.44%, slightly lower in US, where the S&P500 gained 0.11% and the Japanese Nikkei dropped -0.8%.

The DAX index balances at 12,200 points. This level is a strong support and its defense should allow DAX to move up to 12,400 points. In turn, breaking this area will open way to the round 12,000 points.

DAX Intraday

Index after opening of the cash market rebounded from pivot point level around 12,200 points, and on chart appeared a hammer formation. This suggests a move towards 12,235 points, followed by R2 near 12,270 points.

Key data for the DAX index

14:00 – Consumer inflation in Germany
14:30 – Gross Domestic Product fin. in USA

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