81% of retail accounts lose money when trading CFDs with this provider. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 81% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Regulator asic CySEC fca

DAX30 neutral between 12,500 and 12,800 - but with a bullish touch

August 10, 2020 10:30

DAX30 neutral between 12,500 and 12,800 - but with a bullish touch

Economic events calendar

Source: Economic Events August 10, 2020 - Admiral Markets' Forex Calendar


Over the last trading week, the German DAX30 worked within a clearly identifiable range, and the technical levels to watch are between 12,500 and 12,800 points.

After the German index initially attacked the region around 12,500 on Friday, it managed to hold above that level, as US employment data was surprisingly strong after last Wednesday's ADP disappointment.

US Non-Farm Payrolls came in at 1.763 million against 1.48 million expected, with the unemployment rate coming in at 10.2% against 10.5% expected, thus all-around better than expected.

That was enough to let the DAX30 close the week within between 12,500 and 12,800 points, but also, in our opinion, with a bullish tendency.

We believe this because, while negotiations between Democrats and Republicans in the US are still fighting to hammer out a stimulus relief package and based on early comments from both sides they might still be very far apart, US President Trump signed a series of executive orders on Saturday, expanding coronavirus economic relief to US Americans.

While these orders from Trump seem questionable from a legal perspective, they could nevertheless accelerate a final deal in US congress, in our opinion. The creates the potential of an initial bullish impulse, which might easily push the German index above 12,800 points and leaves further room on the upside into the region around 12,970/13,000 points.

If we are wrong, and the DAX fails to break higher, we consider the picture still neutral above 12,500 points, even though a break could be considered short-term bearish, levelling the path down to 11,950/12,000 with a stop-over around 12,200 points:

DAX30 hourly chart

Source: Admiral Markets MT5 with MT5-SE Add-on DAX30 CFD Hourly chart (between July 21, 2020, to August 7, 2020). Accessed: August 7, 2020, at 10:00pm GMT

DAX30 Daily chart

Source: Admiral Markets MT5 with MT5-SE Add-on DAX30 CFD Daily chart (between April 25, 2019, to August 7, 2020). Accessed: August 7, 2020, at 10:00pm GMT - Please note: Past performance is not a reliable indicator of future results, or future performance.

In 2015, the value of the DAX30 CFD increased by 9.56%, in 2016 it increased by 6.87%, in 2017 it increased by 12.51%, in 2018 it fell by 18.26%, in 2019 it increased by 26.44% meaning that after five years, it was up by 34.2%.

Check out Admiral Markets' most competitive conditions on the DAX30 CFD and start trading on the DAX30 CFD with a low 0.8 point spread offering during the main Xetra trading hours!


Discover the world's #1 multi-asset platform

Admiral Markets offers professional traders the ability to trade with a custom, upgraded version of MetaTrader 5, allowing you to experience trading at a significantly higher, more rewarding level. Experience benefits such as the addition of the Market Heat Map, so you can compare various currency pairs to see which ones might be lucrative investments, access real-time trading data, and so much more. Click the banner below to start your FREE download of MT5 Supreme Edition!

Trade With MetaTrader 5

Disclaimer: The given data provides additional information regarding all analysis, estimates, prognosis, forecasts or other similar assessments or information (hereinafter "Analysis") published on the website of Admiral Markets. Before making any investment decisions please pay close attention to the following:

  1. This is a marketing communication. The analysis is published for informative purposes only and are in no way to be construed as investment advice or recommendation. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and that it is not subject to any prohibition on dealing ahead of the dissemination of investment research.
  2. Any investment decision is made by each client alone whereas Admiral Markets shall not be responsible for any loss or damage arising from any such decision, whether or not based on the Analysis.
  3. Each of the Analysis is prepared by an independent analyst (Jens Klatt, Professional Trader and Analyst, hereinafter "Author") based on the Author's personal estimations.
  4. To ensure that the interests of the clients would be protected and objectivity of the Analysis would not be damaged Admiral Markets has established relevant internal procedures for prevention and management of conflicts of interest.
  5. Whilst every reasonable effort is taken to ensure that all sources of the Analysis are reliable and that all information is presented, as much as possible, in an understandable, timely, precise and complete manner, Admiral Markets does not guarantee the accuracy or completeness of any information contained within the Analysis. The presented figures refer that refer to any past performance is not a reliable indicator of future results.
  6. The contents of the Analysis should not be construed as an express or implied promise, guarantee or implication by Admiral Markets that the client shall profit from the strategies therein or that losses in connection therewith may or shall be limited.
  7. Any kind of previous or modeled performance of financial instruments indicated within the Publication should not be construed as an express or implied promise, guarantee or implication by Admiral Markets for any future performance. The value of the financial instrument may both increase and decrease and the preservation of the asset value is not guaranteed.
  8. The projections included in the Analysis may be subject to additional fees, taxes or other charges, depending on the subject of the Publication. The price list applicable to the services provided by Admiral Markets is publicly available from the website of Admiral Markets.

Leveraged products (including contracts for difference) are speculative in nature and may result in losses or profit. Before you start trading, you should make sure that you understand all the risks.


Admiral Markets Group consists of the following firms:
Admiral Markets Pty Ltd
Regulated by the Australian Securities and Investments Commission (ASIC)
CONTINUE
Admiral Markets Cyprus Ltd
Regulated by the Cyprus Securities and Exchange Commission (CySEC)
CONTINUE
Admiral Markets UK Ltd
Regulated by the Financial Conduct Authority (FCA)
CONTINUE
Note: If you close this window without choosing a firm, you agree to proceed under the FCA (UK) regulation.
Note: If you close this window without choosing a firm, you agree to proceed under the FCA (UK) regulation.