EDGE Chart of the Day – German DAX (December 14th, 2023)

<div><p><div><h2 itemprop="headline">ECB put a stop to the rally!</h2><div><div></div></div></div><br />
<section itemscope="itemscope" itemtype="https://schema.org/BlogPosting" itemprop="blogPost"><div itemprop="text"><p>The German DAX has been riding high (new all time highs) due to the expectations that the ECB (European Central Bank) would be providing some needed rate cuts in the near future to the ailing German economy and the Eurozone. The DAX, as a result, has rallied to all time highs in recent weeks. Following the ECB meeting the DAX is now seeing a technical bearish engulfing candle and looks poised to retest the breakout point at 16570. The ECB meeting was considered a “hawkish hold” as they try to temper expectations of a rate cut near term. In turn, the German DAX may fall as expectations of a rate cut are reduced.</p>
<p><img fetchpriority="high" decoding="async" class="alignnone size-full wp-image-11017" src="https://www.forexanalytix.com/blog/wp-content/uploads/2023/12/GER30_2023-12-14_11-53-41.png" alt="" width="1538" height="827" srcset="https://www.forexanalytix.com/blog/wp-content/uploads/2023/12/GER30_2023-12-14_11-53-41.png 1538w, https://www.forexanalytix.com/blog/wp-content/uploads/2023/12/GER30_2023-12-14_11-53-41-400×215.png 400w, https://www.forexanalytix.com/blog/wp-content/uploads/2023/12/GER30_2023-12-14_11-53-41-800×430.png 800w, https://www.forexanalytix.com/blog/wp-content/uploads/2023/12/GER30_2023-12-14_11-53-41-768×413.png 768w, https://www.forexanalytix.com/blog/wp-content/uploads/2023/12/GER30_2023-12-14_11-53-41-1536×826.png 1536w, https://www.forexanalytix.com/blog/wp-content/uploads/2023/12/GER30_2023-12-14_11-53-41-1500×807.png 1500w, https://www.forexanalytix.com/blog/wp-content/uploads/2023/12/GER30_2023-12-14_11-53-41-705×379.png 705w, https://www.forexanalytix.com/blog/wp-content/uploads/2023/12/GER30_2023-12-14_11-53-41-450×242.png 450w" sizes="(max-width: 1538px) 100vw, 1538px" /></p>
<p>Blake Morrow</p>
<p>Our EDGE <a href="https://www.forexanalytix.com/blog/category/technical-analysis/chart-of-the-day/">“Chart of the Day”</a> feature highlights standout technical analysis patterns and price moves. This type of analysis could be helpful if you are interested in our Trader Funding Program where you can also join an elite group of traders at Forex Analytix, <a href="https://traderfundingprogram.com/?ref=blake">click here to learn more</a>. Trade our money, take 75% of the gains and none of the risk.</p>
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</div></section></p></div><section itemscope="itemscope" itemtype="https://schema.org/BlogPosting" itemprop="blogPost"><div itemprop="text"><p>Blake Morrow</p>
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<p>The post <a href="https://www.forexanalytix.com/blog/chart-of-the-day-dec-14th-2023/">EDGE Chart of the Day – German DAX (December 14th, 2023)</a> appeared first on <a href="https://www.forexanalytix.com/blog">ForexAnalytix – Blog</a>.</p>