Subscribe to RSS

Forex Technical Analysis DE30 : 28 January 2016

ECB to cut deposit rate is March?

The Germany’s DAX 30 stock market index is edging up amid strong macroeconomic and corporate data. Additional positive was Mario Draghi’s comment that ECB may expand its monetary stimulus programme on its meeting on January 21, 2016. The current volume of QE programme in Europe is 60bn euros a month with the total planned volume of 1.1trn euros. The majority of market players believe the ECB will cut the deposit rate on its next meeting on March 10, 2016. The chances of QE expansion are estimated as 50 to 50. Will the DAX 30 index continue edging up?

The Germany’s GDP rose 1.8% in Q3 outperforming the EU GDP growth of 1.6%. Meanwhile, the positive Germany’s trade balance was 19.7bn euros while in Eurozone – 23.7bn euros. Germany accounts almost for 83% of the EU foreign trade surplus. For this reason the German companies look forward with optimism. On Tuesday the biggest in Europe industrial group Siemens revised up its financial outlook for this year with its shares gaining 8.6% on this news. DAX has fallen about 20% from its axis hit in April 2015 and about 10% since New Year. Let’s consider the case of the continued upward retracement. The January inflation will come out on January 28, the December retail sales on January 29 and the January unemployment on February 2. These data may affect the share prices.

DAX

On the daily chart DE30: D1 failed to break down the support of the neutral trend and started retracing upwards. In recent days is has closed the gap and is traded slightly above the 76.4% Fibonacci retracement. The Parabolic and MACD indicators give buy signals. RSI has formed the positive divergence and is below 50. The Bollinger bands have widened a lot which means higher volatility and supports the sideways movement. The bullish momentum may develop in case DE30 surpasses the Tuesday high and the 2nd Parabolic signal at 9888. This level may serve the point of entry. The initial risk-limit may be placed below the Parabolic signal and the last fractal low at 9248. Having opened the pending order we shall move the stop to the next fractal low following the Parabolic and Bollinger signals. Thus, we are changing the probable profit/loss ratio to the breakeven point. The most risk-averse traders may switch to the 4-hour chart after the trade and place there a stop-loss moving it in the direction of the trade. If the price meets the stop-loss level at 9248 without reaching the order at 9888, we recommend cancelling the position: the market sustains internal changes which were not taken into account.

Position Buy
Buy stop above 9888
Stop loss below 9248

0 commentsback to post

Add your comment

Nickname:
E-mail:
Website:
Comment:

Other articlesgo to homepage

500 Cent Forex No Deposit Welcome Bonus – FortFs

500 Cent Forex No Deposit Welcome Bonus – FortFs(0)

Get 500 Cent Forex No Deposit Welcome Bonus 2017-2018 to All New Traders. Open a forex real trading account, pass the personal data verification procedure and get the 500 Cent Free Forex Welcome Bonus! Link:  Up to 50% Bonus of Every Deposit Link:  500 Cent Forex No Deposit Bonus Link:  15% Support Margin Bonus Available

$10000 Monthly Challenge Live Trading Contest – FXCM

$10000 Monthly Challenge Live Trading Contest – FXCM(0)

$10,000 Monthly Challenge Live Trading Contest Compete to Win Cash Prizes. The Contest only available to FXCM Mini Account clients Join the monthly Live Trading Contest by opening an FXCM Mini Account with as little as $50. Link:  $10000 Monthly Challenge Contest Available to: All Mini Account clients Contest offer: $10,000 Monthly Challenge Live Trading

$1000 Free No Deposit Forex Bonus – Grand Capital

$1000 Free No Deposit Forex Bonus – Grand Capital(0)

Contests for Forex trader Main Prize $1000 Free No Deposit Forex Bonus. The Contests main prize is $1000 Free No Deposit Forex Bonus with fully withdraw able profit Link:  $1000 Free Bonus‎ Trader Contest Link:  $500 Forex No Deposit Welcome Bonus Link:  Up to 444% Profit Receive for a single trade Link:  40% Forex Deposit

Up to $5000 Trading Credits Bonus Promo – HYCM

Up to $5000 Trading Credits Bonus Promo – HYCM(0)

25% Forex Credit Bonus Promo available on your Deposits. Experience Some of HYCM New Features, Services and Offers Receive 25% Forex trading credit bonus Link:  25% Trading Bonus on your Deposits Ending Date:  31 December 2017 Available to:   New Clients only Bonus Offer: 25% Forex Trading Bonus Promo Available on your deposits to New Clients only.

$20 Forex No Deposit  Bonus Promo Action – NPBFX

$20 Forex No Deposit Bonus Promo Action – NPBFX(0)

$20 Free No Deposit Bonus Promo action. $20 Free No Deposit Bonus Client must submit application of requesting the accrual of bonus funds with indicating the number of trading account by email  info@npbfx.com. Link:  $20 Free Bonus Promo Action Ending Date:  1 March 2017 Available to:   New Clients only Bonus Offer: $20 Free No Deposit

300% Forex Tradable Bonus Promotion 2017 – MarketsYes

300% Forex Tradable Bonus Promotion 2017 – MarketsYes(0)

300% Forex Tradable Bonus Promotion All New and existing clients. MarketsYes is offering all prospective clients deposit for up to 3000 USD/EUR/GBP a 300% Tradable Bonus. Link:  300% Tradable Bonus Promotion Available to: All New and existing clients Ending Date: 31 December 2017 Bonus offer:  300% Tradable Bonus Promotion All New and existing clients. SETTLEMENT

FX Zones Forex Demo Trading Contests – Forex Time

FX Zones Forex Demo Trading Contests – Forex Time(0)

FX Zones Forex Demo Trading Contests 2017 Win up to a total of $12,000. ForexTime is doing something extra special with its trading contests this year, starting with FX Zones Forex Demo Trading Contest  2017 Link:  Demo Forex Trading Contest Link:  Loyalty Cashback Promotions Link:  200% Withdraw-able Cashback Rebates Available to:   New Clients only Contest

Get $88.8 Forex Free No Deposit Bonus – FBS Inc

Get $88.8 Forex Free No Deposit Bonus – FBS Inc(0)

Get $88.8 Forex Free No Deposit Bonus when you open your first FBS Real Account. The $88.8 Free Forex bonuses is credited automatically after account opening, upon verification of the clients phone number and e-mail. Link:  $123 Forex No Deposit Bonus Promotion Link:  $88.8 Lucky No Deposit Required Bonus (for Malaysian traders) Link:  100% Forex

100% Welcome Bonus to Your First Deposit – AvaTrade

100% Welcome Bonus to Your First Deposit – AvaTrade(0)

100% Special Welcome Bonus Offer to your first deposit Up to $300. Start trading today and in honor of our Irish roots we’ll give you a St. Patrick Day special Welcome bonus of up to 100% Link:  100% Special Bonus to Your First Deposit Available to: All new account Ending Date: 31 December 2017 Bonus

Share your photo and Free win $200 – Grand Capital

Share your photo and Free win $200 – Grand Capital(0)

Share your photo and Free win $100, $150 or $200. Comment this post with your photo, which conveys your/public perspective on how a Forex trader should look like and receive one of the great prizes Link:  $500 Forex No Deposit Welcome Bonus Link:  Up to 444% Profit Receive for a single trade Link:  Get $200

read more

Forex Featured Broker

Contacts and information

ForexDepositNews.com Forex Deposit Bonus, Forex No Deposit Bonus, Forex Live Contest, Forex Demo Contest, Free Forex Bonus Forex Brokers Review and Other All Forex promotions.

ForexDepositNews.com

Social networks

Most popular categories