DAX 40
NeutralArchived analysis from Aug 31, 2026, 1:21 PM
Key insight
26,384 sits in no-man's land — 26,760 ATH caps upside, 26,000 round number defends downside; break either way sets the next 400-pt leg.
26,384 holds above the 200-day MA near 24,800 but stalls 1.4% below the all-time high at 26,760; EUR/USD at 1.1597 compresses export margins and caps upside.
Main risk
EUR/USD strength at 1.1597
EUR/USD at 1.1597 squeezes DAX export earnings; every 5-cent EUR rally cuts consensus EPS ~3%, a structural drag at current levels.
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