DAX is one of the most popular indices in the world. It is listed on the Frankfurt Stock Exchange. Virtually every day there is a very high volatility which gives ample of trading opportunity
Summary session 01.04.2017
Yesterday’s session was rather flat. Index practically did not change its value. Yesterday’s macro data, PMI, FOMC minutes from the last meeting did not affect the market in Frankfurt. Today, we are waiting for the ADP report and requests for benefits from the US labor market.
DAX broke yesterday the level of support at around 11,600 points. Another important level of support are local highs in the vicinity of 11500 points.
DAX index before opening of the spot market consolidates at support around 11535 points. Breaking this level will give a signal to movement in the direction S2 in the vicinity of 11500 points. An alternative scenario is rebound from S1, breaking 11550 points and move toward the pivot point in the vicinity of 11580 points.
Key data for DAX
13:30 – Minutes of the meeting of the ECB
14:15 – ADP Report from the US
14:30 – Applications for unemployment benefits in the US