20 Feb 2015
DAX falls to fresh daily lows ahead of Euro group meeting
FXStreet (Mumbai) - Germany’s benchmark index, the DAX, opened higher with a 100 points gap, although gave back gains and edged lower following its European counterparts as markets now await fresh developments from the Greece-Euro group meeting.
Currently, the DAX 30 trades lower by -0.41% at fresh daily lows at 10,955 levels, having previously posted day’s highs at 10992.80 levels. The DAX remains subdued as traders continue to digest EMU PMI readings and UK retail sales data. Moreover, markets now focus on the Euro group talks on Greece for fresh cues. Euro zone finance ministers meet today in Brussels to discuss Greece - the country formally requested a six-month loan extension on Thursday.
The index is seen trading with a negative market breadth with an advance decline ratio of 13:17. Among major gainers, adidas AG is the top gainer, up 2.03%, followed by Commerzbank AG up nearly 1.32%. While, Beiersdorf AG is the top loser, down -1.13%.
DAX Technical Levels
The index has an immediate resistance at 11k. Meanwhile, support is seen at 10875 levels and 10765 levels.
Currently, the DAX 30 trades lower by -0.41% at fresh daily lows at 10,955 levels, having previously posted day’s highs at 10992.80 levels. The DAX remains subdued as traders continue to digest EMU PMI readings and UK retail sales data. Moreover, markets now focus on the Euro group talks on Greece for fresh cues. Euro zone finance ministers meet today in Brussels to discuss Greece - the country formally requested a six-month loan extension on Thursday.
The index is seen trading with a negative market breadth with an advance decline ratio of 13:17. Among major gainers, adidas AG is the top gainer, up 2.03%, followed by Commerzbank AG up nearly 1.32%. While, Beiersdorf AG is the top loser, down -1.13%.
DAX Technical Levels
The index has an immediate resistance at 11k. Meanwhile, support is seen at 10875 levels and 10765 levels.