Dax Forecast 02/09: Traders Await Breakout (Video)

2025-09-02 02:28:55

(MENAFN- Daily Forex)

The DAX in Germany has shown itself to be somewhat positive during Monday trading but is giving back a little bit of the gains after the market has closed in post-market trading.
The DAX has been hugging the 50 day EMA, which is an indicator that a lot of people pay close attention to.
With that being said, I believe that at this juncture, you still have a relatively flat market.

Hanging around the 50 day EMA is pretty common, but you prefer to see it act as support, not a magnet for price like it is now. This is not to say that DAX is any serious trouble. In fact, I think you just basically are at fair value right now. That's your biggest problem. We have a significant amount of resistance above near the 24,600 euro level, but a significant amount of support near the 23,250 euro level. And we're basically in the middle of it. So, I think you will continue to see this somewhat sideways malaise going into the next week or two as volume starts to pick up in places like Wall Street.-p src= data-src="" alt="Dax Forecast 02/09: Traders Await Breakout (graph)" title="Dax Forecast 02/09: Traders Await Breakout (graph)" class="img-responsive center LazyLoading" lazy=loading>

We are exiting the holiday season for summer vacation. And that has a major influence on how a lot of these massive markets move. Furthermore, there are some questions about the Federal Reserve and what it is they are doing. While a September rate cut is expected, the question then looms over the trading world. Is there a problem with the global economy? Because after all, the United States is 25 % of it. So, I think you have a little bit of hesitation, but on the whole, I prefer to buy dips in the German index, rather than trying to short it, if we can break above 24,600 euro, and with any type of force, then I think we continue the longer term uptrend.

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