As the ECB dust settles – DAX30 CFD bulls emerge in control

September 16, 2019

By Admiral Markets

Source: Economic Events September 16, 2019 – Admiral Markets’ Forex Calendar

With the Economic calendar being quite thin as we begin the trading week, trading in the DAX30 CFD will be most likely driven by technical factors and the ECB decision’s aftermath.

Our view in general is that the ECB opened the door for further gains in the German index with the decision to cut the deposit rate to -0.5%, implementing a 2-tier system for reserve remuneration and especially re-launching QE at €20bn per month beginning November 1, and will, for as long as necessary, reinforce the accommodative impact of policy rates.

With the long sequence on H1 staying intact above 12,300 points, our target on the upside around 12,600/650 points stays active.

Only a drop below 12,300 points would darken the technical picture, switch the mode to neutral, activating the region around 12,180/200 points as a first target:


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Source: Admiral Markets MT5 with MT5-SE Add-on DAX30 CFD Hourly chart (between August 26, 2019, to September 13, 2019). Accessed: September 13, 2019, at 10:00pm GMT

Source: Admiral Markets MT5 with MT5-SE Add-on DAX30 CFD Daily chart (between June 7, 2018, to September 13, 2019). Accessed: September 13, 2019, at 10:00pm GMT – Please note: Past performance is not a reliable indicator of future results, or future performance.

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%.

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