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 30.03.2017
Yesterday was optimistic on the markets. Dollar returned to investors’ favor. Fed does not rule out four increases in 2017, the Republicans want to revisit the Obama Obamacare bill next week. The European Central Bank explains that the recent hawkish voices were not at all hawkish and over-interpreted. The DAX index went up strongly yesterday, gaining 0.44%, the S&P 500 gained 0.29%. The mood of Japanese Nikkei, which closed in the morning at -0.81%, was slightly negative.
Today in the morning a correction of the latest growth is taking place and the nearest level of support should be at 12200 points. After defending this level, we should move towards resistance of 12400 points, ie historic maxima, which were set up in April 2015, one month after the ECB launched the QE.
DAX Intraday
The closest resistance level is around pivot point 12245 points, which will open the way to R1 near 12300 points. In turn, breaking support S1 12220 points will open way to the round level of 12200 points.
Key data for the DAX index
09:55 – Unemployment rate s.a. Germany
11:00 – HICP inflation in the euro area – estimates (y / y)
