DAX 40

Neutral

Archived analysis from Aug 18, 2026, 3:30 AM

Key insight

26,000 round number / 50-day MA cluster is the line in the sand — hold it and the ATH at 26,450 is back in play; lose it and 25,600 Fib support opens fast.

26,250 holds above the 26,000 round support but stalls 200pts below the 2026 all-time high; negative breadth across US tech and EUR/USD flat at 1.1576 cap near-term upside.

Main risk

EUR/USD strength ceiling

EUR/USD at 1.1576 compresses DAX export earnings; sustained move above 1.16 historically triggers analyst EPS cuts for auto and industrial names.

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