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DAX Index Daily Fundamental Forecast – March 16, 2018

The DAX index continued its rebound during the course of the day yesterday as the index moved through the 12300 region. This is something that we have been pointing out in many of our forecasts over the last few weeks as we are seeing the index being caught in a tight range during this period and irrespective of what happens in the rest of the world, the index has not been able to break through the range.

DAX Moves Up

Though the move higher yesterday took place on the back of an improvement in the risk sentiment all across the globe but we would like to view it as more of a continuation of the range rather than anything to do with the global sentiment. The index moved higher and continued to stay near the highs of the range but we believe that this is not going to last long. The index would probably test the highs of the range and continue to fall back to ensure that it sticks to its range.

DAX
DAX

This is something that is very good for the range traders but not so for those who want some momentum and trend in the markets. We have been seeing this for sometime now and we believe that this would continue to be so in the near future as well. The consolidation would also have a bearish tinge in the days ahead as we believe that the index is likely to be under pressure due to the developments surrounding the QE which we have been mentioning all along.

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Looking ahead to the rest of the day, we do not have much of news from Germany or the Eurozone and hence it is likely to be more of the same of what has been happening in the markets over the last few days.

This article was originally posted on FX Empire

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