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DAX opens below 200 day moving average

The German DAX has just this minute reopened for the final live trading session of the week and it has been a technically weak start to the day. The index has refused to rebound enough in order to prevent it reopening below its 200 day moving average and I cannot take any positives out of that just yet. The index has just reopened well below 15,500. Now after this opening, at 7.30am GMT we will get the preliminary readings of the German September manufacturing and Service sector PMI data. That data could sway how the index trades from there on. It will mostly likely impact the EUR/USD too. An update will follow here as soon as possible once that data is known. Meantime, if you did not think the markets would react to the break below 15,543 then please take a look at the price action right now. The DAX is currently trading at 15,475

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