Welcome to Extreme Investor Network, where we provide you with unique insights and analysis to help you navigate the stock market and make informed investment decisions. Today, we’ll be delving into the near-term outlook for the DAX and how the US Jobs Report may impact its trajectory.
The upcoming US nonfarm payrolls report is expected to be a major driver for the DAX in the near term. Positive data could buoy the market towards the all-time high of 18,991, while weaker-than-expected numbers could spark recession fears and potentially drag the DAX towards 18,000. It’s crucial for investors to keep a close eye on central bank speakers, economic indicators, and expert commentary to effectively manage their trading strategies.
On the technical front, the DAX has remained above the 50-day and 200-day EMAs, signaling bullish momentum. A break above 18,750 could pave the way for a challenge of the recent high at 18,991, with a potential move towards 19,250. However, a drop below 18,500 could indicate a pullback towards the 50-day EMA and potentially 18,250. The 14-day RSI currently sits at 54.26, suggesting a possible push towards 18,991 before entering overbought territory.
As you navigate the ups and downs of the stock market, remember to stay informed with our latest news and analysis to effectively manage your risks and stay ahead of the curve. Keep an eye on German industrial production, trade data, and the US Jobs Report for potential market-moving events. Trust Extreme Investor Network to provide you with the insights you need to succeed in the world of investing.