DAX Index Daily Fundamental Forecast – March 16, 2017

The DAX bulls now seem quite intent to push through with their plans and for the first time since the beginning of the year, we are seeing some intent from them as they have pushed the index towards the range highs at around the 12050 and the move looks truly menacing. We believe that it is only a matter of time before the bulls find enough impetus to push through the range high and move it beyond 12100 and towards our next target of 12350.

DAX Bulls Looking Ominous

The beginning of that move could come as early as today as the disappointment from the Fed in its statement yesterday has helped the euro to push through towards the top of the range and has placed the dollar under some severe pressure. This is likely to help the DAX index as well and we could see the decisive move from the DAX bulls as early as today.

We have also had some good news for the eurozone overnight as the Dutch poll results started rolling in and it is seen that the ruling party has won a majority and the opposition, which consisted of leaders who were opposed to the concept of the euro, were well and truly defeated. Anything that strengthens the euro concept should be a shot in the arm for the DAX index as well and we believe all these events should help the DAX move higher.

Looking ahead to the rest of the day, we do not have any major news from the Eurozone or Germany but we expect the events of yesterday to have a bearing when the markets open for today and so expect the bulls to seize control when the DAX index opens today and if that happens, we should see the index move through 12100 and beyond opening up the target at 12350 in the short term.