DAX is one of the most popular indexes in the world. It is listed on the Frankfurt Stock Exchange. Virtually every day there is very high volatility which gives many trading opportunities.
Session Summary 19.07.2017
On Wednesday, the DAX index recovered losses at the beginning of the week. A very good mood came from outside the ocean where the S&P 500 establish a new historical record around 2473 points. The reason for such moods in the United States are good company financial results. The results of 53 companies included in the S&P 500 index were published. 77% Of these, they earned more than expected and 75% surpassed the revenue consensus. However, today’s announcement after the two-day ECB meeting will be crucial for further fate of the DAX. Certain sources have reported that the ECB members will not change the current message, which includes the possibility of further expansion or extension of the QE program. Possible announcement that the program will not be extended is forecasted for the September meeting (currently the program is due to end in 2017).
The Nikkei index ended the day with 0.62%. Yesterday, the S&P 500 index set a new historic level gaining 0.54%. The DAX index rose yesterday by 0.17%. The German index was established on 20 June this year. Historical maxima around 12951 pts. However, he has not been able to stay on this level for too long. The index dived again to a strong support level of 12400 points. At this point, there may be a rebound towards the resistance of 12600 points. In turn, breaking the level of 12400 points. Will open the way to 12200 points.
The DAX Index broke the resistance level R1 around 12510 points, which opens the way to R2 near 12535 points, followed by R3 12580 points.
13:45 – Minimum Bid Rate
14:30 – ECB Press Conference