Source: Economic Events 20 January 2020 – Admiral Markets’ Forex Calendar
With the US bank holiday Martin Luther King Day (for modified Trading hours, please check our trading schedule), volatility in financial markets should be expected to stay low into the start of the week.
In general, low volatility favours a drift higher, resulting in an elevated chance to see a push higher and an attack of the current DAX30 CFD all time highs around 13,600 points.
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Technically, the mode on H1 stays long in the DAX30 CFD as long as we trade above 13,380/400 points.
A break above 13,600 points finds a next potential target in the region around 13,800 points and above around the psychologically relevant region around 14,000 points.
However, if the bulls fail to substantially break above 13,600 points and in the days to come, we may see another attack at the region around 13,380/40 points with a break lower, a first target on the downside could be found around 13,250/270 points.
In general, volatility shouldn’t be expected to significantly increase with the ECB rate decision on Thursday, making this bearish outlook unlikely in our opinion:
Please note: Past performance is not a reliable indicator of future results, or future performance.
In 2015, the value of the DAX30 CFD 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%, in 2019 it increased by 26.44% meaning that after five years, it was up by 34.2%.
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