Good morning traders, it’s Wednesday the 15th of July and time for today’s 15-07-2020 German DAX 30 analysis. Is the DAX on the way to 13k? We have easy monetary policy and signs that the virus is under control in Europe. This means we have great conditions for the fiscal stimulus to inflate the market. It doesn’t matter whether you have a strong bearish stance on the global economy in the long-term, because we are traders and only care about the short term. My question is whether the DAX is on the way to 13k? I think yes (not financial advice).
Quarterly earnings reports coming in will draw headlines today as well as COVID-19 (as usual). Moderna’s attempt to produce a COVID-19 vaccine made important progress yesterday as the drug produced antibodies in all the patients tested according to a new study, without enough side effects to preclude testing to continue. This does not mean that it may lead to a vaccine in the end, but it is an important step towards finding a vaccine. Moderna is considered one of the producers farthest ahead in the process.
DAX 30 Review From Last Session
During the last session, we saw the DAX 30 reach a session high of 12788 and a session low of 12521 giving us a range of 267 points compared to the average daily range of 274. At the close of play last session, the market closed at 12762 which was 850 points above the 200EMA and 714 points above the 50EMA.
DAX 30 Outlook
The DAX is currently Bullish.
The DAX30 index is currently showing a progressive series of higher highs and higher lows. The trend defining level is currently 12390, so the market remains bullish above that level. In order for the market to remain bullish, we need to take out 12870. I will again be looking to use the DAX trading strategy to provide some useful setups today.. . We have a classical situation on the daily chart whereby the 5EMA is above the 8EMA, the 8EMA is also above the 50EMA and finally the 50EMA is above the 200EMA. That’s a very bullish market, the first sign of a turn could be when the 5EMA breaks below the 8EMA.
DAX 30 Levels To Watch
Taking a look at the key levels to watch today, watch out for the previous session Point of Control (POC) at 12604 and the previous session Volume Weighted Average Price (VWAP) at 12629. The value area high (VAH) is currently 12655 and the value area low (VAL) is currently 12566.
DAX Technical Indicators
| Indicator | Value |
|---|---|
| RSI | 62 |
| Stochastic | K: 87 and D: 77 |
| MACD OSMA | -2 |
| Point of Control (POC) | 12604 |
| Value Area High (VAH) | 12655 |
| Value Area Low (VAL) | 12566 |
| The DAX Pivot | 12690 |
| The DAX R2 | 12958 |
| The DAX S2 | 12423 |
| Daily 5 EMA | 12691 |
| Daily 8 EMA | 12642 |
| Daily 50 EMA | 12048 |
| Daily 200 EMA | 11912 |
Economic Calendar
To keep up with the economic calendar and the latest price action, click this link to open up the DAX chart. Here are the most important announcements for today
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As for my index trading; during the last trading session I took a total of 2 trades, so it was a pretty quiet session (1 DAX trade and 1 FTSE trade). Breaking down my DAX trade, 1 was from the DAX trading strategy (DTI) and 0 were from the regular morning DAX signal. Breaking down my FTSE trade, 0 were from the FTSE trading strategy (Using the DAX DTI) and 1 was from the regular morning FTSE signal. Overall, I hit 0 winners, 1 loser, and 1 break-even trade. This gave me a total profit of -1% for the day.
To keep a track of the trading results, you can read the dax trading spreadsheet. In order to get access to the signals and to the strategy, you will need to be a member of the site. Find out more about membership.
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