DAX is one of the most popular indices in the world. It is listed on the Frankfurt Stock Exchange. Virtually every day there is very high volatility which gives ample of trading opportunity.
Summary session 02.01.2017
Yesterday, Fed hold the federal funds rate, which was expected by market movement. FOMC members did not address issue to future increases, but the futures market expects that this will happen not sooner than in the middle of the year. The sentiment slightly improved in the equity markets, but it is still hard to say that the current correction was completed. Nikkei closed today in the morning -1.22%.
DAX index yesterday was not able to keep up the level of 11650 points. Today, after opening of the futures markets again we fell in the vicinity of support 11600 points. The next support is located close to 11500 points.
DAX Intraday
DAX index is consolidating around the S1 11585 points. Breaking this level will open the way to S2 in the vicinity of 11515 points. Any breaking of peaks formed after the opening of the futures markets in the vicinity of 11625 points should provoke a movement toward the pivot point in the vicinity of 11650 points.
Key data for DAX
13:00 – Decision of BoE on rates
