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.
Summary of session 03.02.2017
Last week ended in a worse mood. Hike in US interest rates is looming. On Friday, Janet Yellen stated that the delay in hikes may require stronger movements in the future. Based on futures likelihood of such a movement is about 80%. The Federal Reserve has to assess situation on the labor market and the level of inflation, as we know, the last time inflation in the US, but not only, rebounded strongly, and the labor market overseas is doing very well. On Friday this week we will have payrolls- data on employment in the United States.
Last Friday DAX remained above important support at around 12,000 points. Unfortunately, after opening of futures market on Monday morning rate fell below this area, and now the next support is 11900 points.
DAX Intraday
Index after rebound from the level of 12,000 points is heading towards the S1 in the vicinity of 11960 points. Breaking this zone could bring exchange rate even near the S3 11915 points.
