As the ECB dust settles – DAX30 CFD bulls emerge in control
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.
Ready to take your trading to the next level? Find out how in Admiral Markets’ new webinar series Trading Spotlight, where our trading experts will be discussing risk management, trading psychology, and their top strategies for trading the world’s most popular markets - admiralmarkets.com/education/webinars/trading-spotlight-1
Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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.
Ready to take your trading to the next level? Find out how in Admiral Markets’ new webinar series Trading Spotlight, where our trading experts will be discussing risk management, trading psychology, and their top strategies for trading the world’s most popular markets - admiralmarkets.com/education/webinars/trading-spotlight-1
Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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