DAX daily (Mar 16)

DAX has retraced 50% of the December to February losses. Part of the rebound has been on the basis of “front-running” the expansion of the ECB QE. Tonight FED is on the agenda and the BoE decision is scheduled for tomorrow. Maybe the “buy the rumor, sell the fact” market axiom is in play again. The wedge-like DAX movement of the last month is quite difficult to sustain.