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 20.07.2017
There was quite a bit of volatility yesterday in the Frankfurt Stock Exchange. Of course, the European Central Bank, which yesterday announced the results of its two-day meeting, was the culprit. Both the interest rates as well as the scale of the QE program have not been changed. In addition, tapering of the QE program will be discussed more broadly in September. All the time, the Governing Council of the ECB is poised to increase its QE scale. However, the fact that in September it may change to strengthen the euro against the dollar, the EUR/USD pair is at its highest for almost two years and a large variation on the DAX index. Investors in the stock markets count on further loosening by the bank. But for now, they can breathe until September.
The Nikkei index ended the day with -0.22%. Yesterday, the S&P 500 ended the day in virtually the same place with a score of -0.02%. The DAX index also changed little by little, ending the session with -0.04%. The German index was established on 20 June this year. Historical maxima around 12951 points. 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, the resistance to 12600 points could be rebounded, especially yesterday the level was protected once again.
The DAX index did not take a definite direction after opening the futures market for the time being. Breaking the pivot point around 12470 points it will open the way to R1 near 12550 points. In turn, breaking today’s minimum at 12430 points and a round of 12400 points it can reduce the price to around S1, i.e. 12370 points.
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