DAX 30, in its 4-hour chart, shows a consolidation structure, which looks like a pennant pattern. According to the traditional technical analysis, a pennant is a chartist figure implying a continuation of the previous movement. In this case, the primary trend corresponds to a bullish move that started in early January.

A long position will be activated if the price breaks and closes above 13,459.7 pts. This breakout could drive the German index until 13,546.1 pts, as a conservative scenario.

If the buying activity continues enlarging this potential upward leg, DAX could visit as a possible second target at 13,636.0 pts. The last potential bullish target is located at 13,727.1 pts.

The invalidation level of our bullish scenario locates at 13,369.3 pts.


Trading Plan Summary

  • Entry Level: 13,459.7 pts.

  • Protective Stop: 13,369.3 pts.

  • 1st Profit Target:13,546.1 pts.

  • 2nd Profit Target: 13,636.0 pts.

  • 3rd Profit Target: 13,727.1 pts.




Try Secure Leveraged Trading with EagleFX!

Risk Warning: CFD and Spot Forex trading both come with a high degree of risk. You must be prepared to sustain a total loss of any funds deposited with us, as well as any additional losses, charges, or other costs we incur in recovering any payment from you. Given the possibility of losing more than your entire investment, speculation in certain investments should only be conducted with risk capital funds that if lost will not significantly affect your personal or institution’s financial well-being. Before deciding to trade the products offered by us, you should carefully consider your objectives, financial situation, needs and level of experience. You should also be aware of all the risks associated with trading on margin.

Analysis feed

FXStreet Trading Signals now available!

Access to real-time signals, community and guidance now!

Latest Analysis

Latest Forex Analysis

Editors’ Picks

EUR/USD loses 1.1800 amid escalaing US-Sino tensions

EUR/USD dips sub-18 after the US reported an increase of 1.763 million jobs in July, better than estimated but pointing to a deceleration. Escalating Sino-American tensions are boosting the dollar and fiscal talks are eyed. 


GBP/USD resumes decline, weighed by UK concerns, US-China conflict

GBP/USD trades at fresh weekly lows below 1.3050 as the dollar got a sudden boost from mounting tensions between the world's two largest economies. UK Chancellor Rishi Sunak said the furlough scheme that is underpinning the economy cannot last forever.


XAU/USD drops $50 from record highs to the $2020 area

Gold prices are falling sharply on Friday, trading below $2040/oz at the moment. Earlier on Friday, the yellow metal reached at $2075, a new record high.

Gold News

Bitcoin may extend the recovery once Gold resumes the rally

Gold retreated from the recent highs, but the sentiments are still bullish. Cryptocurrencies resumed the upside, some altcoins are demonstrating strong gains. ETH/BTC stopped the downside correction and settled at $0.03300.

Read more

WTI drops 1% to $41.50 ahead of US NFP, rigs data

WTI (futures on Nymex) is on a steady decline so far this Friday, undermined by reduced demand for higher-yielding assets amid the renewed US-China tensions induced risk-aversion.

Oil News

Forex Majors