DAX is one of the most popular indices in the world. It is listed on the Frankfurt Stock Exchange. Every day there is very high volatility which gives a lot of trading opportunity.
Summary of session 11/02/2016
Yesterday again we saw the red colour on stock exchanges in Europe and the United States. It got nervous on the floor after the Republican candidate Donald Trump began to catch up Hillary Clinton in the polls. In addition, yesterday the Fed signalled again probability of raising interest rates in December, but at yesterday’s meeting made no changes in monetary policy the US.
DAX broke yesterday the level of support at around 10400 points. and moves to another nearby 10300 – 10250 points.
DAX Intraday
Let’s see how looks the situation on the intraday chart M15. DAX attempts to break local support in the area of 10350 points. If this would succeed the index should be directed toward the S1 near the 10320 pts., and 10260 points. In turn, the next resistance level is located near the pivot point 10400 points.
More technical analysis from Admiral Markets
Key data for DAX
- 13:00 – Interest rates in the UK
- 15:00 – Report ISM services in the US
