Yesterday after the statements of one of the representatives of the Federal Reserve – Jeffrey Lacker – who called for an increase in US interest rates, the dollar began to strengthen and stock markets headed down. The December increase in the United States seems to be a sure thing , but the bulls still don’t give up and the DAX ended the session yesterday, more than 1% in plus.

More technical analysis from Admiral Markets

Since yesterday, lasts attempt to remain above the level of around 10500 – 10550 points. If the exchange rate remains above that area should move towards peaks in August and September close to 10750 points.

DAX Intraday

Let’s see the situation on the intraday chart M15. The index bounced off the support S1 at the level of 10480 pts., and on the chart appeared pin bar formation. Currently, we see attempts to break the pivot point level in the vicinity of 10560 points. Breaking this area will open the way for R1 in the region of 10640 points.