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 session 11/17/2016
Yesterday we saw a continuation of a downward correction on the Frankfurt Stock Exchange. Today, in turn, the market is waiting for the speech of the head of the Fed, Janet Yellen, which is so important because it will be the first occurrence after the US election. FED’s chair testifies before the Congress or some of its Committees to explain the current economic situation and the policies applied to improve it. After the testimony, a Q&A session follows, which can imprint strong volatility across the board.
DAX broke through the support level at around 10,700 points. and only returning back above this level could signal a continuation of the upward movement.
DAX Intraday
Since morning we observe no particular direction. Today the index is below its pivot point and probably heading toward the support S1 in the vicinity of 10600 points.
More technical analysis from Admiral Markets
Key data for DAX
- 14:30 – Initial Jobless Claims in the US
- 16:00 – Speech by Fed Chairman Public (Janet L. Yellen)
