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CFDs and forex (FX) are complex instruments and come with a high risk of losing money rapidly due to leverage. 66% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs, FX, or any of our other products work and whether you can afford to take the high risk of losing your money. Losses can exceed deposits on some products.
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Technical Update - DAX/GER40 and EuroStoxx 50/EU50 sell off likely to continue

Technical Update - DAX/GER40 and EuroStoxx 50/EU50 sell off likely to continue

Equities 2 minutes to read
KCL
Kim Cramer Larsson

Technical Analyst, Saxo Bank Group

DAX opened below support at around 14,933 and seems on course towards March lows around 14,458

If closing Friday and thereby the week above 15K a minor correction higher could be seen. But the trend is down and for DAX to reverse that a close above 15,575 is needed.

DAX has no strong support until around 14,458-14,400

Source all charts and data: Saxo Group

GER40 sees no support until at around 14,764 but could very likely be sold off down to March trough at around 14,457.

To reverse the down trend a close above 15,574. A close above 15,305 will put it on pause

EuroStoxx50 is testing support at around 4,034 but could quite likely move lower to support at around 3,986

Bearish trend is strong and medium-term EuroStoxx50 could drop even lower.
A close below 3,980 could push the Index to around 3,800

To reverse the bearish trend a close above 4,235 is needed.

EU50 cfd is below support at around 4,061 and seems on course towards support around 3,975-3,947.
To reverse the bearish trend a close above 4,235 is needed. A close above 4,165 will put it on pause

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