DAX Ready to Take Off Again? Watch These Levels to Spot a Breakout

EUR/USD News

DAX Ready to Take Off Again? Watch These Levels to Spot a Breakout
DAX
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Stocks Analysis by Fawad Razaqzada covering: EUR/USD, DAX. Read Fawad Razaqzada's latest article on Investing.com

European markets are likely to stay positive today, with US markets on holiday.As DAX breaks out, dip-buying is seen as the dominant trade.

With ProPicks' state-of-the-art AI financial modeling, you can get your hands on a list of 90+ winners before they rally higher. Here, a concerted effort by parties determined to prevent Marine Le Pen’s far-right National Rally from gaining power picked up steam ahead of Sunday's legislative election, with prominent political figures cautioning voters that their choice would significantly impact France and will have repercussions for the Eurozone as well.and stock markets in the last few days, it looks like investors are confident that the National Rally won't come to power.

Despite ongoing macro concerns, going long on the dips remains the trade that has worked well so far in 2024. And that’s not just for the DAX, but also on the major US indices too, especially the tech-heavyIndeed, the DAX’s longer-term technical outlook remains constructive given that it has been consolidating well above its 200-day average and around its short-term 21-day exponential.

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