DAX bulls hold 13,400 points – new all-time highs coming?
Source: Economic Events January 24, 2020 - Admiral Markets' Forex Calendar
Last Wednesday, the DAX30 CFD finally made it to new all-time highs, but the question for the coming days is now whether bulls can gain further bullish momentum.
The strong weekly close after the important support around 13,380/400 points was successfully defended against the bulls last Thursday, and is a positive sign which brings the last weekly highs (and current all-time highs) of around 13,640 points into our focus for the start of the new week of trading.
A break higher activates targets on the upside around 13,800 and 14,000 points in the upcoming days, as long as we trade above 13,380/400 points.
From a seasonal perspective, we favour the long side, too: with the Fed rate decision on Wednesday, we'd like to point out several studies which show that since the 1980's, the days before the Fed rate decision and especially the 24 hours before the event, US Equities, but also the German DAX30, showed on average a positive performance when trading the Long side.
Still, if we, on the other hand, fail to break sustainably higher, get to see another test of the region around 13,380/400 points and a break lower, a test of the region around 13,250/270 points seems likely.
Source: Admiral Markets MT5 with MT5-SE Add-on DAX30 CFD Daily chart (between October 12, 2018, to January 24, 2020). Accessed: January 24, 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%.
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!
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:
- 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.
- 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.
- 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.
- 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.
- 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.
- 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.
- 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.
- 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.