Wednesday, July 25, 2018

DAX30 - 25 July 2018


Fundamental Highlights

The German DAX ended Tuesday's session in positive territory, with banks and miners leading the way, as bond yields rose and China announced a mix of tax cuts and infrastructure spending to stimulate economic growth. Today it is expected to open a tad lower as investors await the outcome of a key meeting between US President Donald Trump and European Commission President Jean-Claude Juncker for directional cues. Business sentiment from Germany is due today at 12:00pm (UTC +4), headlining a light day for the European economic news.

Technical Analysis

From a technical perspective, the German Index is still trading above its 200-period MA on an hourly chart, signaling more upside potential, however wait until the index gets closer to its support line at €12,640 before going long. RSI is mixed to bullish signaling a slight price increase back to the €12,700's zone.

Support: 12640 12410
Resistance: 12780 12900

Chart (H1)