The German DAX to reach pre corona levels? It seems that way! That’s the most likely outcome of the recent rally in my opinion. Good morning traders, it’s Thursday the 10th of September and time for today’s German DAX 30 analysis.
DAX 30 Review From Last Session
During the last session, we saw the DAX 30 find a session high of 13316 and a session low of 12888 giving us a range of 428 points compared to the average daily range of 295. These numbers are pretty high suggesting we have decent momentum in the market, which is perfect for our trading strategy. At the close of play last session, the market closed at 13256 which was 1001 points above the 200EMA and 465 points above the 50EMA. The main risk to continued momentum today is the usual quietness in the build-up to the ECB meeting. I doubt very much that this meeting will be eventful, so perhaps the market will agree with me. I do not expect any material changes to the ECB’s policy stance. But I will listen carefully to ECB president Lagarde’s answers regarding any questions on the Federal Reserve’s new average inflation targeting, although I expect her just to say the ECB has ‘taken note of the Fed’s decision’ and that the ECB will ‘not make pre-emptive conclusions’ of its own review. Snore!
What Is The DAX 30 Doing Today?
The DAX is currently Bullish.
The DAX 30 Index index is currently showing a progressive series of higher highs and higher lows. The trend defining level is currently 12853, so the market remains bullish above that level. In order for the market to remain bullish, we need to take out 13319. 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 Key Levels
Taking a look at the key levels to watch today, watch out for the previous session Point of Control (POC) at 13085 and the previous session Volume Weighted Average Price (VWAP) at 13133. The value area high (VAH) is currently 13217 and the value area low (VAL) is currently 12891.
DAX Technical Indicators
| Indicator | Value |
|---|---|
| RSI | 56 |
| Stochastic | K: 64 and D: 52 |
| MACD OSMA | 1 |
| Point of Control (POC) | 13085 |
| Value Area High (VAH) | 13217 |
| Value Area Low (VAL) | 12891 |
| The DAX Pivot | 13154 |
| The DAX R2 | 13582 |
| The DAX S2 | 12725 |
| Daily 5 EMA | 13134 |
| Daily 8 EMA | 13107 |
| Daily 50 EMA | 12791 |
| Daily 200 EMA | 12255 |
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
Join the Free Telegram Channel
Stay alerted with new DAX analysis articles by joining the free telegram channel. Click the link below.TheDaxTrader Telegram Channel
DAX Trading Strategy
As for my index trading; during the last trading session I took a total of 5 trades (2 DAX trades and 3 FTSE trades). Breaking down my DAX trades, 1 was from the DAX trading strategy (DTI) and 1 was from the regular morning DAX signal. And my FTSE trades; 2 were from the FTSE trading strategy (Using the DTI) and 1 was from the regular morning FTSE signal. Overall, I hit 2 winners, 2 losers, and closed one trade early. This gave me a total profit of +5.48% for the day (including a trade I closed around 8pm). This translated to literally hundreds of points! If you image trading at just £1 a point, it’s a good 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.
Develop Your Trading Business
TheDaxTrader.co.uk provides top quality DAX Analysis articles every day cover various topics of technical analysis from technical indicators to naked price action. We want to help you learn to trade the DAX better. We study market geometry and share our outlooks. If you want to learn more about how we trade, you can become a member today and get access to our DAX trading strategy. We trade the strategy every day and this is where we generate our DAX signals. So come and learn the strategy for yourself.
Perhaps you want to learn how to become a signal provider for yourself? If so, learn about how to send trading signals from Metatrader 4 to Telegram. We have produced an excellent piece of software will help you do exactly that. To learn more about the DAX, visit the Wikipedia page, you will find we are mentioned there.
