Source: Economic Events November 25, 2019 – Admiral Markets’ Forex Calendar
With the thin Economic calendar being as we start the trading week, and the upcoming Thanksgiving holiday on Thursday (for modified Trading Hours please check our website), we don’t expect much volatility in Equity markets and thus in the German DAX30 CFD.
Still, we want to have a look at the technical side after the recent interesting price action over the last week: after the failed attempt to break above 13,300 points last Tuesday, but also below 13,100 points, we expect the DAX30 CFD to stay range-bound in the days to come.
Get our Weekly Commitment of Traders Report: - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.
Get Our Free Metatrader 4 Indicators - Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter
With the latest rise in tensions in the trade dispute between the US and China again (e.g. that the mood in Beijing about a trade deal is rather pessimistic and the strategy from the Chinese now switching to “talk only” and wait due to the recent impeachment developments and uncertainty around the upcoming US election), our neutral picture with an expected choppy price action although has a slight bearish touch.
But even if we get to see a test of the psychological relevant region around 13,000 points, we consider the recent and very dovish stances from the ECB and FED and technically solid support region around 12,980/13,000 points as difficult and sustainably to break in the days to come.
On the upside a break above Friday’s highs around 13,250 points makes a test of the region around 13,300 points and above of the pre-weekly highs around 13,370 an option:
Source: Admiral Markets MT5 with MT5-SE Add-on DAX30 CFD Hourly chart (between November 5, 2019, to November 22, 2019). Accessed: November 22, 2019, at 10:00pm GMT – Please note: Past performance is not a reliable indicator of future results, or future performance.
Source: Admiral Markets MT5 with MT5-SE Add-on DAX30 CFD Daily chart (between August 16, 2018, to November 22, 2019). Accessed: November 22, 2019, at 10:00pm GMT
In 2014, the value of the DAX30 CFD increased by 2.65%, in 2015, it increased by 9.56%, in 2016, it increased by 6.87%, in 2017, it increased by 12.51%, in 2018, it fell by 18.26%, meaning that after five years, it was up by 10.5%.
Discover the world’s #1 multi-asset platform
Admiral Markets offers professional traders the ability to trade with a custom, upgraded version of MetaTrader 5, allowing you to experience trading at a significantly higher, more rewarding level. Experience benefits such as the addition of the Market Heat Map, so you can compare various currency pairs to see which ones might be lucrative investments, access real-time trading data, and so much more. Click the banner below to start your FREE download of MT5 Supreme Edition!
Disclaimer: The given data provides additional information regarding all analysis, estimates, prognosis, forecasts or other similar assessments or information (hereinafter “Analysis”) published on the website of Admiral Markets. Before making any investment decisions please pay close attention to the following:
- This is a marketing communication. The analysis is published for informative purposes only and are in no way to be construed as investment advice or recommendation. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and that it is not subject to any prohibition on dealing ahead of the dissemination of investment research.
- Any investment decision is made by each client alone whereas Admiral Markets shall not be responsible for any loss or damage arising from any such decision, whether or not based on the Analysis.
- Each of the Analysis is prepared by an independent analyst (Jens Klatt, Professional Trader and Analyst, hereinafter “Author”) based on the Author’s personal estimations.
- To ensure that the interests of the clients would be protected and objectivity of the Analysis would not be damaged Admiral Markets has established relevant internal procedures for prevention and management of conflicts of interest.
- Whilst every reasonable effort is taken to ensure that all sources of the Analysis are reliable and that all information is presented, as much as possible, in an understandable, timely, precise and complete manner, Admiral Markets does not guarantee the accuracy or completeness of any information contained within the Analysis. The presented figures refer that refer to any past performance is not a reliable indicator of future results.
- The contents of the Analysis should not be construed as an express or implied promise, guarantee or implication by Admiral Markets that the client shall profit from the strategies therein or that losses in connection therewith may or shall be limited.
- Any kind of previous or modeled performance of financial instruments indicated within the Publication should not be construed as an express or implied promise, guarantee or implication by Admiral Markets for any future performance. The value of the financial instrument may both increase and decrease and the preservation of the asset value is not guaranteed.
- The projections included in the Analysis may be subject to additional fees, taxes or other charges, depending on the subject of the Publication. The price list applicable to the services provided by Admiral Markets is publicly available from the website of Admiral Markets.
- Leveraged products (including contracts for difference) are speculative in nature and may result in losses or profit. Before you start trading, you should make sure that you understand all the risks.