DAX30 CFD with a focus on 11,550 into the new week
As we start the trading week, we want to focus on the DAX30 CFD. While the economic docket is quite thin, and the main focus among market participants certainly lies with the intensifying trade dispute between the USA and China, the eurozone's inflation will at least taken with elevated interest.
This is especially true after the latest comments from Finnish ECB member Rehn ,who said in an interview with the Wallstreet Journal last Thursday that "it is important that we (the ECB) come up with a significant and impactful policy package in September".
With that in mind, any print which comes in below expectations could result in a bullish stint, at least short-term, since market participants could consider such a low inflation reading as an intensifying sign of the ECB delivering such a significant stimulus package (and surely vice versa: a higher than expected print could trigger bearish impulses in the DAX30 CFD).
Technically, the main focus in the DAX30 CFD can be found around 11,550 points on the upside where a break higher would trigger further bullish respectively corrective momentum, activating 11,850 points as a potential target.
On the other hand, failing to recapture 11,550 could trigger another bearish stint down to the pre-weekly lows around 11,250 points, especially if we drop back below 11,400 points.
Ready to take your trading to the next level? Find out how in Admiral Markets’ new webinar series Trading Spotlight, where our trading experts will be discussing risk management, trading psychology, and their top strategies for trading the world’s most popular markets - admiralmarkets.com/e.../trading-spotlight-1
Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
This is especially true after the latest comments from Finnish ECB member Rehn ,who said in an interview with the Wallstreet Journal last Thursday that "it is important that we (the ECB) come up with a significant and impactful policy package in September".
With that in mind, any print which comes in below expectations could result in a bullish stint, at least short-term, since market participants could consider such a low inflation reading as an intensifying sign of the ECB delivering such a significant stimulus package (and surely vice versa: a higher than expected print could trigger bearish impulses in the DAX30 CFD).
Technically, the main focus in the DAX30 CFD can be found around 11,550 points on the upside where a break higher would trigger further bullish respectively corrective momentum, activating 11,850 points as a potential target.
On the other hand, failing to recapture 11,550 could trigger another bearish stint down to the pre-weekly lows around 11,250 points, especially if we drop back below 11,400 points.
Ready to take your trading to the next level? Find out how in Admiral Markets’ new webinar series Trading Spotlight, where our trading experts will be discussing risk management, trading psychology, and their top strategies for trading the world’s most popular markets - admiralmarkets.com/e.../trading-spotlight-1
Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.