DAX bulls take over control again – yearly highs to come?

May 23,2019 09:20   Source:Admiral Markets
<p><a href="https://admiralmarkets.com/analytics/technical-analysis/dax-bulls-push-highs"><img style="width:auto;" class="img-responsive" src="https://fxmedia.s3.amazonaws.com/articles/remote/4f0867a5cf7aa852e0dad87a3aa46147.png" style="" alt="Economic events calendar" rel=""></a></p><p><em>Source: Economic Events May 20, 2019 - </em><em><a href="https://admiralmarkets.com/analytics/forex-calendar">Admiral Markets' Forex Calendar</a></em></p><p><br></p> <p>Since the economic docket is very thin going into the start of the trading week, we want to take the chance to have a look at the DAX30 CFD from a purely technical perspective. </p><p>After the German index broke above 12,220 points last Thursday, the sequence of falling highs and lows on the hourly time-frame can be considered broken. The mode has switched to neutral, but with a clear bullish tendency. </p><p>When the DAX30 CFD corrected some of its gains last Friday, we could clearly spot first buyers stepping in around 12,200/220 points and even if we get to see another stint lower, the region around 12,130 points still acts as a potential long-trigger. </p><p>In general, we can say that as long as we trade above 12,000 points on an hourly time-frame, the DAX30 CFD stays short-term bullish with an active target on the upside being found around the current yearly highs at 12,450 points. </p><p><a href="https://admiralmarkets.com/analytics/technical-analysis/dax-bulls-push-highs"><img style="width:auto;" class="img-responsive" src="https://fxmedia.s3.amazonaws.com/articles/remote/c259f7b92f7315dbaa0f6b29095df134.png" style="" alt="DAX 30 CFD hourly chart" rel=""></a></p><p><em>Source: Admiral Markets </em><a href="https://admiralmarkets.com/trading-platforms/metatrader-5"><em>MT5</em></a><em> with </em><a href="https://admiralmarkets.com/trading-platforms/metatrader-se"><em>MT5-SE Add-on</em></a><em> DAX30 CFD Hourly chart (between April 26, 2019, to May 17, 2019). Accessed: May 17, 2019, at 10:00pm GMT - Please note: Past performance is not a reliable indicator of future results, or future performance.</em></p><p><em><br></em></p> <p><a href="https://admiralmarkets.com/analytics/technical-analysis/dax-bulls-push-highs"><img style="width:auto;" class="img-responsive" src="https://fxmedia.s3.amazonaws.com/articles/remote/f3d0a312679a0ea1c4fc6c99cf6435d4.png" style="" alt="DAX 30 CFD daily chart" rel=""></a></p><p><em>Source: Admiral Markets MT5 with MT5-SE Add-on DAX30 CFD daily chart (between January 15, 2018, to May 17, 2019). Accessed: May 17, 2019, at 10:00pm GMT</em></p><p>In 2014, the value of Gold fell by 1.7%, in 2015, it fell by 10.4%, in 2016, it increased by 8.1%, in 2017, it increased by 13.1%, in 2018, it fell by 1.6%, meaning that after five years, it was up by 6.4%.</p><p><br></p> <h2>Investing in Forex with Admiral Markets</h2><p>Admiral Markets offers professional traders the ability to trade with a custom, upgraded version of MetaTrader 5, allowing you to experience trading at a significantly higher, more rewarding level. Experience benefits such as the addition of the Market Heat Map, so you can compare various currency pairs to see which ones might be lucrative investments, access real-time trading data, and so much more. Click the banner below to start your FREE download of MT5 Supreme Edition!</p><p><a href="https://admiralmarkets.com/trading-platforms/metatrader-5"><a href="https://admiralmarkets.com/analytics/technical-analysis/dax-bulls-push-highs"><img alt="Download MetaTrader 5 and begin trading today!" style="width:auto;" class="img-responsive" src="https://fxmedia.s3.amazonaws.com/articles/remote/dcc979b1760697572fcd067864fb0a71.png" style="" rel=""></a></a></p><p><em>Disclaimer: The given data provides additional information regarding all analysis, estimates, prognosis, forecasts or other similar assessments or information (hereinafter "Analysis") published on the website of Admiral Markets. Before making any investment decisions please pay close attention to the following:</em></p><ol><li>This is a marketing communication. The analysis is published for informative purposes only and are in no way to be construed as investment advice or recommendation. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and that it is not subject to any prohibition on dealing ahead of the dissemination of investment research.</li><li>Any investment decision is made by each client alone whereas Admiral Markets shall not be responsible for any loss or damage arising from any such decision, whether or not based on the Analysis.</li><li>Each of the Analysis is prepared by an independent analyst (Saulius Radžiūnas, Professional Trader and Analyst, hereinafter "Author") based on the Author's personal estimations.</li><li>To ensure that the interests of the clients would be protected and objectivity of the Analysis would not be damaged Admiral Markets has established relevant internal procedures for prevention and management of conflicts of interest.</li><li>Whilst every reasonable effort is taken to ensure that all sources of the Analysis are reliable and that all information is presented, as much as possible, in an understandable, timely, precise and complete manner, Admiral Markets does not guarantee the accuracy or completeness of any information contained within the Analysis. 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