The DAX 30 (FXCM: GER30) breached last week’s high of 9594 and appears to be on its way to the January 27 high of 9931, which is also the next resistance in line.
Traders who did not buy on the break to the 9594 high will probably be tempted to do so if the DAX 30 decides to trade back to the breakout level. The bullish trend will remain intact as long as the February 29 low of 9330 holds as a support.
The January 27 high of 9931 is the likely target for bullish traders and if traders were to lift price above this level, the January 13 high of 10,164 will likely enter the fray.
U.S. ADP Employment On Deck
The DAX 30’s trend will probably remain upwards as long as the U.S. ADP Employment Change meets the expectation of the 190,000 new jobs that have been created (Bloomberg news poll). Traders will also keep an eye on the weekly U.S. Crude Oil Inventories report and a Bloomberg consensus report projects an inventory build of 3.4m barrels.
Crude oil (FXCM: USOIL) is short-term bullish above Monday’s low of $32.25 and its bullish drift should support global stock markets. In the evening the Fed will publish its ‘Beige book.’
The DAX 30 (FXCM: GER30) breached last week’s high of 9594 and appears to be on its way to the January 27 high of 9931, which is also the next resistance in line.
Traders who did not buy on the break to the 9594 high will probably be tempted to do so if the DAX 30 decides to trade back to the breakout level. The bullish trend will remain intact as long as the February 29 low of 9330 holds as a support.
The January 27 high of 9931 is the likely target for bullish traders and if traders were to lift price above this level, the January 13 high of 10,164 will likely enter the fray.
U.S. ADP Employment On Deck
The DAX 30’s trend will probably remain upwards as long as the U.S. ADP Employment Change meets the expectation of the 190,000 new jobs that have been created (Bloomberg news poll). Traders will also keep an eye on the weekly U.S. Crude Oil Inventories report and a Bloomberg consensus report projects an inventory build of 3.4m barrels.
Crude oil (FXCM: USOIL) is short-term bullish above Monday’s low of $32.25 and its bullish drift should support global stock markets. In the evening the Fed will publish its ‘Beige book.’
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!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
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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.
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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.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
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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
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
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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
Looking to expand your network in #Africa?
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20-22 MAY 2024
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Looking to expand your network in #Africa?
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20-22 MAY 2024
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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.
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.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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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.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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