DAX wakes up and starts the week with a jolt
The DAX index wakes up to extremely negative German export data, while the German trade balance for December benefits from Christmas orders. Crucial data is expected this morning: the January PMI in Germany (slight decline expected) and in the Eurozone (expected to remain unchanged). In addition, UK and US PMI could impact the day.
From a technical point of view, the index has formed a bullish shift in the 1-4 hour range since January 17, anticipating a rebound towards the mid-zone in the direction of 17.022. However, a bearish impact could trigger a bearish breakout looking for 16,345. The key area for the index this month is 17,034 points, having already experienced three previous bounces and becoming the area to beat during this month to see a clear continuation in the channel. If so, it could already head towards 17335, or break once, and again the bullish milestones obtained so far in a strong correction towards 15935. This week is not expected to be as relevant, and the market is relatively bullish on the index, which has been at its highs since its Christmas rally.
On Friday, a cross of averages occurred, marking the positive signal of the 34-day averages crossing over the 84-day averages, indicating optimism, although the crossing with the 233-day average is not expected yet, so a continuation is foreseeable. The RSI divergence indicator suggests a move towards overbought, indicating a possible continuation. The opening of the US market will be crucial, as the fluctuation of the dollar can significantly affect the index.
Ion Jauregui - AT Analyst
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All information has been prepared by ActivTrades ("AT"). The information does not contain a record of AT's prices, or an offer of or solicitation for a transaction in any financial instrument. No representation or warranty is given as to the accuracy or completeness of this information.
Any material provided does not have regard to the specific investment objective and financial situation of any person who may receive it. Past performance is not reliable indicator of future performance. AT provides an execution-only service. Consequently, any person acing on the information provided does so at their own risk.
From a technical point of view, the index has formed a bullish shift in the 1-4 hour range since January 17, anticipating a rebound towards the mid-zone in the direction of 17.022. However, a bearish impact could trigger a bearish breakout looking for 16,345. The key area for the index this month is 17,034 points, having already experienced three previous bounces and becoming the area to beat during this month to see a clear continuation in the channel. If so, it could already head towards 17335, or break once, and again the bullish milestones obtained so far in a strong correction towards 15935. This week is not expected to be as relevant, and the market is relatively bullish on the index, which has been at its highs since its Christmas rally.
On Friday, a cross of averages occurred, marking the positive signal of the 34-day averages crossing over the 84-day averages, indicating optimism, although the crossing with the 233-day average is not expected yet, so a continuation is foreseeable. The RSI divergence indicator suggests a move towards overbought, indicating a possible continuation. The opening of the US market will be crucial, as the fluctuation of the dollar can significantly affect the index.
Ion Jauregui - AT Analyst
The information provided does not constitute investment research. The material has not been prepared in accordance with the legal requirements designed to promote the independence of investment research and such should be considered a marketing communication.
All information has been prepared by ActivTrades ("AT"). The information does not contain a record of AT's prices, or an offer of or solicitation for a transaction in any financial instrument. No representation or warranty is given as to the accuracy or completeness of this information.
Any material provided does not have regard to the specific investment objective and financial situation of any person who may receive it. Past performance is not reliable indicator of future performance. AT provides an execution-only service. Consequently, any person acing on the information provided does so at their own risk.
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