DAX Technical Analysis: Big Test of Support Underway
The German benchmark was just on the verge of breaking out above the May high post-ECB, but now finds itself trading at a key juncture of support.
The German benchmark was just on the verge of breaking out above the May high post-ECB, but now finds itself trading at a key juncture of support.
Global stocks have been offered-lower since last week’s FOMC and ECB rate decisions, and the Dow Jones is now approaching a key zone of support. Will buyers be able to hold the lows to provoke another move of bullish continuation?
The combination of current sentiment and recent changes gives us a further mixed USDJPY trading bias.
Recent changes in sentiment warn that the current US 500 price trend may soon reverse lower despite the fact traders remain net-short.
USD/CAD has rallied more than 5% YTD with prices probing fresh yearly highs today. Here are the targets & invalidation levels that matter on the USD/CAD weekly chart.
The Japanese Yen has scored a strong haven bid thanks to swirling trade tensions . However USD/JPY remains in its broad uptrend, even if AUD/JPY looks a bit harder pressed
The FTSE recently weakened into a key area of support and finding sponsorship so far, event risk comes tomorrow via the BoE.