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DAX makes history today as it reaches 17k

Following on from earlier updates here, the DAX has printed above 17,000 for the first time in its history. The high seen was set at 17,003 and it did back off from there as a degree of profit-taking seemed to impact the price action lower. Elsewhere the SNB did just now maintain their 1.75% OCR rate and a tweak in their currency language did send the USD/CHF hurtling lower, from above 0.8725, towards 0.8650 but it rebounded just as fast, as the SNB then made some further rather ambiguous comments on policy going forward. So, now that the DAX has reached this milestone, where next then? Well, as stated here earlier, the prospect of a gap fill now, back to that 16,837 level cannot be ruled out at some stage, perhaps even today, but it really does depend on what the ECB has to offer later. The DAX is currently trading at 16,970 
 

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