Caution: Trading involves the possibility of financial loss. Only trade with money that you are prepared to lose, you must recognise that for factors outside your control you may lose all of the money in your trading account. Many forex brokers also hold you liable for losses that exceed your trading capital. So you may stand to lose more money than is in your account. does not guarantee the profitability of trades executed on its systems. We have no knowledge on the level of money you are trading with or the level of risk you are taking with each trade. You must make your own financial decisions, we take no responsibility for money made or lost as a result of using our servers or advice on forex related products on this website.
Don’t Miss Out!
There's 754 Participants ready for the competition starting in:Learn More
There's 754 Participants ready for the competition starting in: Learn More

DAX 40 Daily Price Analysis – DAX 40 Rises on Optimism Ahead of US PCE Data and French Election

  • 3 mins read ●
  • Published:
dax30 germany market analysis 3

Today’s DAX 40 opened at 18,189.24 and has risen by 0.45%, driven by cautious optimism ahead of key economic events this week.

Key Points

  • Germany’s Ifo Business Climate index unexpectedly declined, indicating economic challenges.
  • The auto sector saw gains, with Porsche, BMW, Volkswagen, and Mercedes-Benz performing well.
  • The DAX 40 is currently trading above the 200 intraday EMA, indicating a bullish trend.

DAX 40 Daily Price Analysis – 24/06/2024

On Friday, the DAX 40 closed at 18,189.24, down 0.30% from its opening of 18,243.48. The decline was influenced by mixed sentiments in the market, with significant movements in individual stocks. The Ifo Business Climate index for Germany dropped unexpectedly, providing more evidence of headwinds in Europe’s largest economy. Not helping that bearish mood was corporate news, with autos rallying in the good company of names like Porsche (3%), BMW (+1.9%), Volkswagen (1.9%), Mercedes-Benz (+1.5%), and Zalando (-5%) tumbling after a downgrade from Morgan Stanley. On top of that, Sartorius slipped around 2% to compound the negative sentiment.

Today, the DAX 40 opened at 18,189.24 and has since risen by 0.45% to 18,271.60. The market kicked off the last week of June with cautious optimism. The positive movement is partly due to traders positioning themselves ahead of key economic events later this week, including the US PCE inflation data and the initial round of the French election.

The fall in the Ifo Business Climate index helps to keep a cap on market sentiment with negative issues still facing the German economy. Paradoxically, the car sector has performed particularly well. and that has tended to provide some support.

Key Economic Data and News to Be Released Today

Although no high impact data are due today; however, traders shall keep an eye on the US PCE inflation this week which has long been used as one of the best indicators of broad consumer price inflation and how key measure could impact Federal Reserve decisions about setting interest rates. A reading that comes in higher than anticipated could lead to greater volatility, making the DAX 40 more interesting.

Traders will also be watching the French election as this may result in a big river moves based on its potential to move the needle on European Union political and economic stability.

Visit our Economic Calendar

DAX 40 Technical Analysis – 24/06/2024

Looking at the Dax 40 chart, the price looks bullish, trading above the 200 intraday EMA. This move is backed by price breaking above the high of the previous trading day. While the price is currently testing the resistance zones, we are expecting price to slowly break and close above these levels to sustain its bullishness.

dax 40 m15 chart
DAX 40 – 15-minute Chart

However, should price decide to take a U-turn from this level, we might expect the pullback to get to the pivot point, providing equilibrium to the market before going back up. It’s important to note that a break and close below the already established low of the day invalidates our bullish outlook for the day.

Dax 40 Fibonacci Key Price Levels 24/06/2024

Short-term traders planning to trade the Dax index today should keep a close eye on the following key price levels for the day:


Risk Disclosure: The information provided in this article is not intended to give financial advice, recommend investments, guarantee profits, or shield you from losses. Our content is only for informational purposes and to help you understand the risks and complexity of these markets by providing objective analysis. Before trading, carefully consider your experience, financial goals, and risk tolerance. Trading involves significant potential for financial loss and isn't suitable for everyone.

Trade Like a Predator Hunt for Opportunities

Sign up now for FREE access to our exclusive trading strategy videos. Want more? Explore our Trade Together program for live streams, expert coaching and much more.

Here’s what you’ll get:

Identifying high probability scalping setups
When to scalp and when to stay out
Precise entries and exits
Position sizing and risk management
HTT Piranha Strategy Course thumbnail
By clicking the 'Learn Free Now' button you agree to our Terms of Service and Privacy Policy
HTT Connor, arms crossed

In partnership with our recommended partner SwitchMarkets partnering broker logo


1Register with Switch Markets.
2Verify your identity.
3Unlock Trade Together program for free!
Learn More

"Join our Trade Together program and interact with us in real-time as we trade the markets together."

HowToTrade Coaches