Talking Points The DAX trades higher as traders are trying to come to terms with what the raft of ...
Talking Points
The DAX trades higher as traders are trying to come to terms with what the raft of ECB actions truly mean for the stock markets.
The trend is moderately bullish above the February 29 low of 9336, with a break to this level potentially marking a sustained reversal.
There are no major market moving data reports on tap today.
The DAX 30 (FXCM: GER30) has regained some of yesterday’s losses as traders are trying to come to terms with what yesterday’s ECB action actually means for both the economy and the value of stock markets.
From a technical point of view, the trend remains moderately bullish as the February 29 low of 9336 has held as a support and the DAX may gain further over the next few days. A stronger sign of traders seeing the ECB’s actions for looser monetary policy as stock market positive would be a successful break to the January 27 high of 9931. On a break to the 9931 high, the DAX could reach the January 13 high of 10,171, which could be followed by the January 5 high of 10,395.
When does the trend turn Bearish?
On a break to the February 29 low of 9336, the trend would probably turn bearish and price may reach its February 24 low of 9122, with a breach to this level potentially exposing the February monthly low of 8705.
The DAX trades higher as traders are trying to come to terms with what the raft of ECB actions truly mean for the stock markets.
The trend is moderately bullish above the February 29 low of 9336, with a break to this level potentially marking a sustained reversal.
There are no major market moving data reports on tap today.
The DAX 30 (FXCM: GER30) has regained some of yesterday’s losses as traders are trying to come to terms with what yesterday’s ECB action actually means for both the economy and the value of stock markets.
From a technical point of view, the trend remains moderately bullish as the February 29 low of 9336 has held as a support and the DAX may gain further over the next few days. A stronger sign of traders seeing the ECB’s actions for looser monetary policy as stock market positive would be a successful break to the January 27 high of 9931. On a break to the 9931 high, the DAX could reach the January 13 high of 10,171, which could be followed by the January 5 high of 10,395.
When does the trend turn Bearish?
On a break to the February 29 low of 9336, the trend would probably turn bearish and price may reach its February 24 low of 9122, with a breach to this level potentially exposing the February monthly low of 8705.
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
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Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
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