Markets

DAX – waiting for the FOMC decision

The “slide” in the DAX® announced yesterday was limited to a short but violent reset to 12,743 points. No new sustained sell-off wave developed from the presumed stop loss orders below 12,800 points. This morning, the index is already trading within the most recent trading range.

The relative strength this morning cannot be entirely ignored by the bears. Procyclical bullish signals are only generated when the hour is closed above 12,950 points. In this case, “air” on the top would be in the range of 13,050 to 13,100 points.

The decision about the further course of the German leading index could therefore only be made in the after-hours trading this evening: At 8:00 p.m. the interest rate decision by the US Federal Reserve and at 8:30 p.m. the press conference with Fed chief Jerome Powell is on the calendar.

A rather directionless trade can be expected in advance, at least until Wall Street opens at 3:30 p.m.

DAX® in points hourly chart; 1 candle = 1 hour (log. Candle chart display)

Observation period: 07.07.2020 – 29.07.2020. Historical considerations are not reliable indicators of future developments. Source: Guidants.com

DAX® in points monthly chart; 1 candle = 1 month (log. Candle chart)

Observation period: July 1, 2015 – July 29, 2020. Historical considerations are not reliable indicators of future developments. Source: Guidants.com

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Turbo Bull on DAX® Index for speculation on an increase in the index

UnderlyingWKNSelling price in EURBase price / knock-out in pointsleverlast valuation day
DAX® indexHW0S4D19.7710,8706.5007/31/2020
DAX® indexHW0S5816.2211,2257.9207/31/2020
Source: HypoVereinsbank onemarkets; 29.07.2020; 11:32 a.m.

Turbo Bear on the DAX® Index for speculation of a loss in the index

UnderlyingWKNSelling price in EURBase price / knock-out in pointsleverlast valuation day
DAX® indexHW0S7A11.5713,95011.1107/31/2020
DAX® indexHR0A1B26.1113,2254.9108/31/2020
Source: HypoVereinsbank onemarkets; 29.07.2020; 11:32 a.m.
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The contribution DAX – waiting for the FOMC decision first appeared on onemarket’s blog (HypoVereinsbank – UniCredit Bank AG).

Author: Henry Philippson

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