DAX pushed down; risk-off sentiment continues, 65km Russian convoy heading towards Kyiv
Startling satellite imagery shows a massive convoy of Russian military vehicles advancing towards Kyiv. The convoy is estimated to be 65 km long. The images are from Sunday or Monday, and given how fast things are changing on the ground, the convoy shape may have altered. Nevertheless, there is growing concern that Russia is preparing to launch a full-scale assault on the Ukrainian capital. Other satellite images suggest a military buildup along Southern Belarus' border with Ukraine by Russian forces. Risk-off has dominated the morning European session, given the new signs of escalation.
The chart on the left is the daily heikin ashi (HA) chart of FXCM's CFD of the DAX, GER30. The HA is a trend following indicator; it is red indicating bearishness, and is in the weak area between the lower blue and red bands. The red Bollinger bands moved in opposite directions as volatility increased (black ellipses). However, the upper band has turned down (black rectangle). This directional change is a bearish development. The righthand chart is the hourly GER30. Its trend following indicators have crossed bearishly (turquoise ellipse), and its stochastic is making its way towards the lower quintile (arrow). The longer it stays below 20, the greater the likelihood that the index feels pressure to the downside.
Featured Image by Gerd Altmann from Pixabay
Russell Shor
Senior Market Strategist
Russell Shor is a Senior Market Strategist at FXCM, having been promoted to the role in 2025 in recognition of his depth of insight and consistent delivery of high-impact market analysis. He originally joined FXCM in October 2017 as a Senior Market Specialist.
Russell holds an Honours Degree in Economics from the University of South Africa, is a certified FMVA®, and a full member of the Society of Technical Analysts (UK). With over 20 years of experience in financial markets, his work is renowned for its clarity, precision, and strategic value across asset classes.
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