Source: Economic Events January 13, 2020 - Admiral Markets' Forex Calendar
With a light economic calendar - and no further geopolitical tensions, relevant to the markets, between the US and Iran over the weekend - and the upcoming sign off the Phase 1 trade deal between the US and China coming this Wednesday, volatility in the DAX30 CFD should stay subdued.
In fact, this market environment seems very favourable for a bullish push higher, and we could potentially see the German index once again attack its current all-time highs of around 13,600 points.
In our opinion, such an upwards move seems very likely, and the region around 13,600 points acts as stop-over up to the next target, which will be around 13,800 points.
The region around 13,800 points is of higher interest, with focus on the expiration of DAX options at the EUREX next Friday, and the elevated Open Interest at the strike price of 13,800 points.
Still, bulls should be at least aware of the forming bearish divergence in the RSI(14) on H1 which points from a purely technical perspective to diminishing bullish momentum and could trigger, if bears gain at least short-term control, a bearish stint down to 13,380/400 points:
Source: Admiral Markets MT5 with MT5-SE Add-on DAX30 CFD Daily chart (between September 20, 2018, to January 10, 2020). Accessed: January 10, 2020, at 10:00pm GMT - Please note: Past performance is not a reliable indicator of future results, or future performance.
In 2015, the value of the DAX30 CFD increased by 9.56%, in 2016, it increased by 6.87%, in 2017, it increased by 12.51%, in 2018, it fell by 18.26%, in 2019, it increased by 26.44% meaning that after five years, it was up by 34.2%.
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