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DE 30 Technical Analysis - DE 30 Trading: 2020-06-18
DAX Index Technical Analysis Summary
Above 12431.28
Buy Stop
Below 11806.85
Stop Loss
| Indicator | Signal |
| MACD | Buy |
| Stochastic | Neutral |
| Donchian Channel | Buy |
| MA(200) | Buy |
| Fractals | Buy |
| Parabolic SAR | Buy |
DAX Index Chart Analysis
DAX Index Technical Analysis
On the 4-hour timeframe the DE30: H4 is retracing higher above the 200-period moving average MA(200) which is rising itself. We believe the bullish momentum will continue after the price breaches above the upper boundary of Donchian channel at 12431.28. A level above this can be used as an entry point for placing a pending order to buy. The stop loss can be placed below 11806.85. After placing the order, the stop loss is to be moved every day to the next fractal low, following Parabolic signals. Thus, we are changing the expected profit/loss ratio to the breakeven point. If the price meets the stop loss level (11806.85) without reaching the order (12431.28), we recommend cancelling the order: the market has undergone internal changes which were not taken into account
Fundamental Analysis of Indices - DAX Index
Germany’s data improved in the last couple of weeks. Will the DE30 rebound continue?
Germany’s economic data of the last couple of weeks were not all bad. While trade and current account surplus fell more than forecast in April with factory orders dropping more than expected, construction activity contraction slowed in May and investors’ sentiment improved more than forecast for June. Thus, the construction PMI for May rose to 40.1 from 31.9 in April. Readings above 50 indicate expansion of activities in the sector, below 50 indicate contraction. And the ZEW indicator of economic sentiment for Germany increased for the third consecutive time reaching 63.4 for June from 51 in May when an increase to 60 was forecast. Both expectations and assessment of the current situation improved. The improvement in economic data is the result of reopening of economies after lockdown measures are being lifted gradually, as well as various stimulus measures. Thus, the European Council is meeting at the end of the week to discuss a recovery proposal by the bloc’s executive to raise 750 billion euros worth of debt to supplement spending worth 1.1 trillion euros in 2021-27. Positive data are bullish for DE30.
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