Dax set for more losses

Frank Walbaum FX Strategies.Asia

EU bourses headed lower today with the German DAX opening lower following a strong session across global equity markets overnight after the prospect of a potential Covid-19 vaccine sparked a new wave of investor optimism.

Today, global bourses headed lower with the DAX set to slide during the day and ahead of the European Central Bank Interest rate decision. The ECB rate should remain steady with no change expected, however, we might see an increase in their asset purchase program as well as potential support for lenders, who are currently suffering due to the negative interest rate. We sold the DAX today at 12850 with SL at 12960 and TP at 12650.

Author

Frank Walbaum

FX Strategies.Asia

Frank has been working in the TV business for several years. Acquiring his skills in Germany’s biggest broadcasting station, he then chose to work and live in Asia, which was in 2007.

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