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Dax - Short - Pre Payrolls

May 06, 2021

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Dax - Short - Pre Payrolls by KQMarkets on TradingView.com

Commentary

 

The Dax could move lower towards support around 14,000 as equities continue to look shaky over inflation fears and subsequent comments by Yellen that as a result rates may need to be raised sooner than previously anticipated by the market.

 

Additionally, the RSI is at 65 indicating the index could start to become overbought as we await non farm payrolls on Friday, which could highlight further that the US economy is overheating and inflation will overshoot the FED's target rate.

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