The DAX 30 will continue to rise in the next weeks, according to our daily and weekly analysis. The RSI oscillator is still above 50 on the daily and weekly charts. The price on the daily charts has already hit EMA 20, EMA 50, and EMA 100. A medium-term target for this index is 12332 where is 0.23 Fibo on the weekly chart.
On the other hand, the European Central Bank’s program influences the price of the DAX.
The ECB announced it would be making billions of Euros available to Eurozone banks at cheap rates to try and reinvigorate lending to the economy. The tranches of the third Targeted Longer-term Refinancing Operations (TLTROs) will start in September 2019 and end in March 2021, with each loan having a maturity of two years.
The most important data from this week:
ECB rate decision (0.00% unchanged expectation); (0.00% previous)
Lending Facility (0.25% expectation); ( 0.25% previous)
Deposit Facility (-0.4% expectation); (-0.4% previous)
ECB Mario Draghi’s press conference
Germany CPI MoM (0.4% expectation); ( 0.4% previous)