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DE 30 Technical Analysis - DE 30 Trading: 2020-08-20
DAX Index Technical Analysis Summary
Above 13098.13
Buy Stop
Below 12514.45
Stop Loss
| Indicator | Signal |
| Stochastic | Neutral |
| MACD | Neutral |
| Donchian Channel | Neutral |
| MA(200) | Buy |
| Fractals | Buy |
| Parabolic SAR | Buy |
DAX Index Chart Analysis
DAX Index Technical Analysis
On the daily timeframe the DE30: D1 is rising above the 200-day moving average MA(200) which has leveled off. We believe the bullish momentum will continue after the price breaches above the upper boundary of Donchian channel at 13098.13. A level above this can be used as an entry point for placing a pending order to buy. The stop loss can be placed below 12514.45. After placing the order, the stop loss is to be moved every day to the next fractal low, following Parabolic signals. Thus, we are changing the expected profit/loss ratio to the breakeven point. If the price meets the stop loss level (12514.45) without reaching the order (13098.13), we recommend cancelling the order: the market has undergone internal changes which were not taken into account
Fundamental Analysis of Indices - DAX Index
Germany’s economic reports were positive recently. Will the DE30 rebound continue?
Germany’s economic data in the last couple of weeks were positive after the Q2 GDP report. While construction sector contraction continued in July, the retail sales growth of 5.9% over year was above an expected 2.6% increase. And factory orders jumped at higher pace than expected in June, manufacturing activities joined services sector expansion in July according to Markit’s final manufacturing and services PMIs reports, and construction sector contraction slowed as evidenced by construction PMI reading of 47.1 after 41.3 in June. Readings above 50.0 indicate industry expansion, below indicate contraction. At the same time current account surplus more than tripled to 22.4 billion euro in June from 7 billion in May. Improving data are bullish for DE30.
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