DAX 40
BullishArchived analysis from Nov 2, 2026, 2:20 PM
Key insight
25,866 consolidates near all-time highs — break above 26,200 round resistance opens a run toward 27,000; EUR strength at 1.1213 is the key headwind for export-heavy DAX constituents.
25,866 holds above the 200-day MA near 23,800 and the 2025 breakout level at 24,500; EUR/USD +0.5% tailwind and S&P 500 at record 7,623 support risk-on flow into German equities.
Main risk
EUR/USD strength vs. DAX exporters
EUR/USD at 1.1213 (+0.5%) compresses margins at Volkswagen, BASF, Siemens — sustained move above 1.13 risks earnings downgrades across DAX heavyweights.
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