With the US Jobs Report in focus, it could be a choppy end to the European session.
Near-Term Outlook
Near-term trends for the DAX will hinge on French election-related news and the US Jobs Report. Downward trends in the poll projections for National Rally Party seats and a soft US Jobs Report could support buyer appetite for DAX-listed stocks.
On the Futures markets, the DAX was down by 9 points, while the Nasdaq mini gained 8 points.
In conclusion, French Election polls project that the National Rally Party will fall short of an absolute majority, which is positive for the DAX. The US Jobs Report will dictate the Fed interest rate trajectory with rising bets on a Fed rate cut also DAX positive.
Investors should monitor the news wires, real-time economic data, and expert commentary to manage trading strategies accordingly. Stay informed with our latest updates and insights to navigate the equity markets effectively.
To better navigate these market conditions, understanding the technical indicators for the DAX is crucial. Here is a look at the key technical levels and trends.
DAX Technical Indicators
Daily Chart
The DAX remained above the 50-day and 200-day EMAs, affirming the bullish price signals.
A DAX breakout from the 18,500 handle could signal a move to the 18,750 handle.
Investors should pay close attention to the French Election-related news and the US Jobs Report.
Conversely, a DAX break below the 50-day EMA could bring 18,000 into play. A fall through 18,000 could signal a drop toward the 17,615 support level.
The 14-day RSI at 54.52 suggests a return to the 18,750 handle before entering overbought territory.