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Bullish
DAX 40
Archived analysis from Aug 3, 2026, 8:22 PM
The DAX is printing successive all-time highs in early August, recovering the entire April tariff-shock drawdown from ~21,900; momentum is now pointing toward technical analyst targets of 27,200 and 28,800 identified by the Association of Technical Analysts of Germany.
The DAX has broken above the psychologically significant 26,000 level to fresh all-time highs, driven by easing US-Iran geopolitical tensions and sharp oil price declines reducing inflation concerns.
Main Risk
US-EU Trade Tariff Re-escalation
A renewed Trump threat on EU auto tariffs or breakdown in US-Iran talks could reverse the current risk-on bid that drove the DAX from ~21,900 to record highs above 26,000.
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