Tue, May 18, 2021 @ 23:03 GMT
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Two Trades To Watch: GBP/USD, Dax

GBP/USD looks to 1.42 post jobs data GBP/USD is gaining for a second consecutive session and trades around a three month high. UK unemployment unexpectedly declined to 4.8% in 3 months to March, down from 4.9%. The claimant count also unexpectedly declined by 15.1k, expectations had been for a 25k rise. Re-opening...

GER 30 Retests Record High

Germany's DAX 30 claws back previous losses as the economic outlook brightens. On the daily timeframe, the latest sideways action has allowed the RSI to drop back to the neutrality area, which is good news for a breakneck bull market. On the hourly chart, strong momentum above the last leg of...

Stocks Stayed in Up Trend, Yields Range Bound, Dollar Lost Downside Momentum

Market debates heated up last week with the influx of some US economic data. On the other hand, the concerns on overheating inflation was legitimate given the much stronger than expected headline and core CPI reading from the US. On the other hand, poor retail sales, and prior week's...

Two Trades To Watch: Dax, Gold

Dax tests key support European bourses are under pressure, after a weak hand over from Wall Street & Asia. A shocking rise in US inflation sent US treasury yields surging and has prompted expectations of a sooner move by the Fed. The expected rate response is negative for equities. Wall Street’s main...

Two Trades To Watch: Dax, Gold

Dax follows Wall Street lower, ZEW Economic Sentiment up next After a steep sell off overnight on Wall Street as inflation fears creep higher, the German Dax, along with European peers is tanking lower. High growth tech stocks are expected to take the biggest hit, in light of the Nasdaq’s -2.5%...

DAX Forecasting: The Bounce From Blue Box Area

In this technical blog, we will look at the past performance of 1 hour Elliott Wave Charts of DAX index. In which, the rally from 28 January 2021 low unfolded as an impulse structure. And showed a higher high sequence with a bullish sequence stamp favored more upside extension...

GER 30 Tests Previous Record High

The DAX has recouped recent losses as risk sentiment made its way back in the market. By clearing the previous crash point at 15270 the price action has confirmed the bullish MA cross. The index then established support at 15100. As it climbs back towards the peak at 15520, an...

Reopening Optimism Drives Markets Higher, NFP In Focus

European equities rise ahead of US Nonfarm Payrolls After fresh record highs on Wall Street, European stocks have kicked off the session on the front foot. An optimistic mood is dominating the market as investors look ahead to the release of the US non-farm payrolls. Robust earnings and yet more upbeat...

Dax Outlook: Extended Recovery Needs Clear Break Of Key Fibo Barrier To Resume

The Dax maintains positive tone and extends recovery from one-week low (14833) into second day. Fresh risk appetite on hopes of strong economic recovery keep the global stocks resilient, while stronger than expected German data, released earlier today, offered additional support. Strong rebound fully retraced Tuesday’s 2.1 % drop (the second...

Accelerating Business Activity And Strong Earnings Help Europe Rebound

After steep losses in the previous session, European bourses are flying higher today, helped by strong earnings and accelerating business activity in the region. Yesterday's sell-off was just the tonic to fire up the bulls, who had been complacent with stocks hovering around all-time highs. Tuesday's declines served as a...

European Open: Indices Off To A Bad Start In May

It was a rough day for equity bulls yesterday, with several indices breaking key support levels amidst their worst level in weeks. Will today’s trade continue this trend? Asian Indices: Australia's ASX 200 index rose by 44 points (0.62%) and currently trades at 7,111.90 Japan's Nikkei 225 index has risen...

Elliott Wave View: DAX Looking To Find Buyers Soon 

Short term Elliott wave view in DAX suggests the rally from January 28, 2021 low is unfolding as a 5 waves impulse Elliott Wave structure. Up from January 28 low, wave 1 ended at 14169.49 and pullback in wave 2 ended at 13664.71. The Index extends higher in wave...

Two Trades To Watch: DAX, US Dollar Index

DAX edges higher on upbeat sentiment Dax is extending gains as the market reacts positively to a supportive Fed and Biden stimulus push overnight. Strong earnings from Apple & Facebook add to the upbeat mood in the market. Attention will now turn to earning which continue to pour in in Europe in...

Two Trades To Watch: FTSE, Dax

FTSE steady as investors digest BP & HSBC results FTSE futures are trading cautiously ahead of the open, the broad mood in the market is wobbling ahead of tomorrow’s Fed decision. BP share price and HSBC share price movement will be in focus after both heavyweights beat forecasts. Earnings are also out...

Europe Edges Higher, FTSE Under-Performs, Tesla Due To Report

European stocks trade quietly mixed at the start of what promises to be a very busy week. With UK bank earnings, US tech earnings, the FOMC rate decision, in addition to OPEC there is plenty to keep investors engaged. The FTSE is underperforming its European peers, just failing to keep...

Bitcoin And Ether Rebound As Focus Shifts To The Fed

Asian stocks and European and American futures drifted upwards as attention turned to the falling bond yields and the upcoming Federal Reserve meeting. Dow Jones, S&P 500, and DAX index futures rose by more than 0.10% while the Nikkei 225 and Hang Seng rose by more than 0.15%. In...

Elliott Wave Analysis: Dax Can Retest 15k Psychological Support Level

DAX is coming down as expected, after five sub waves up within wave 5, with the current price breaking the trendline support so we see a new corrective set-back which can be wave 4 now at former wave four support near 15180, but we suspect there can be more...

Two Trades To Watch: GBP/USD, DAX

GBP/USD tests 50 EMA resistance after strong retail sales Retail sales data showed that spending ramped up as consumers looked ahead to the reopening of the UK economy. Retail sales came in 5.4% MoM in March vs 1.5% expected and 2.1% in February. On an annual basis sales rose 7.2% in...

DAX 30 Waiting For Pullback To 38.2% And 144 Ema At 15k

On the 4 hour chart below, we can see how the moving averages help us identify the moments when price action is making a pullback within the uptrend. German stock index DAX 30 (DE30) has been in a major uptrend since the bullish reversal from March 2020. The...

DAX Outlook: DAX Is Consolidating Under New Record High, Further Advance Likely

The Dax is trading within narrow consolidation under new all-time high on Monday, following 1.5% rally last Friday (the biggest one-day gains since March 8). Global stocks remain underpinned by expectations that major world central banks will maintain ultra-loose monetary policies for an extended period of time, while encouraging signs...

GER 30 Resumes Uptrend

With the fear of reflation now taking a backseat, improved risk sentiment is pushing equity markets into new highs. The DAX has built a floor around 15160 following the latest rectangle consolidation. Bullish candles above the previous high at 15360 could draw more momentum players into the game. The 20-hour moving...

Pull Back in Treasury Yields Boosted Stocks to New Record, Dollar Set Up for More Downside

Dollar tumbled broadly again as falling treasury yield pushed US and German stocks to new record highs. Near term trend in the greenback should have reversed, but it's unsure whether it's ready for medium term down trend resumption yet. At least, EUR/USD will have to break through 1.2 handle...

Two Trades To Watch: GBP/USD, DAX

GBP/USD tests 1.3750, US CPI up next UK GDP 0.4%, an improvement on January’s -2.2% contraction but still below 0.6% increase forecast. GBP/USD edges higher, boosted by reopening optimism. US treasury yields lift demand for the USD keeping gains in the pair capped. Boston Fed President Eric Rosengren said that the US economy...

European Open: China’s Imports Rise, CPI Up Next

Whilst China's exports missed expectations, imports rose an impressive 38.1% YoY to show demand from the world's second largest economy is also on the rise. Asian Indices: Australia's ASX 200 index fell by -6 points (-0.09%) to close at 6,968.00 Japan's Nikkei 225 index has risen by 248.91 points (0.48%)...

European Open: Powell Talks Of ‘Inflection Point’ For US Economy

Fed Chair Jerome Powell’s comments were aired on Sunday night in the US on '60 minutes', although he also reiterated that risks to the recovery remain. Powell also said that the principles risk to the economy is that the disease would spread again, and the recovery would be uneven. Yet...

Recovery Optimism Sends Dax to Record High

Dax, FTSE gain ground European stocks are bounding higher on Tuesday, rallying to record levels on signs of economic recovery, even as the region battles with its third wave of Covid and attempts to ramp up its vaccine programme. News that Germany plans to have 20% of its population vaccinated by...

Dax Hits An All-Time High, US Yields Rise

Following on from a record close on the Dow, equities across Europe are pushing higher, boosted by the prospect of a strong economic recovery in the US. The mood in the market is upbeat, surprisingly so given the third wave of Covid which is sweeping across the old continent. Eurozone...

DAX Outlook: Consolidating Under New Record High, Overbought Daily Techs May Further Slow Bulls

The Dax is consolidating under new record high (14864) on Monday, after strong advance in past two days. Last Thursday’s bullish candle with long tail signaled downside rejection and an end of shallow pullback, while further acceleration on Friday confirmed strong bids. The export-heavy index was boosted by continuous improvement in...

Elliott Wave Analysis For DAX: Five-Wave Cycle From March May Suggests A Slow Down For Bullish Trend

DAX found a support after a three wave drop back in wave 4) at 14400 area from where market turned up for wave 5) that can be now approaching some resistance at 14900-15k psychological level. Keep in ind that while recovery from 13642 is now in five waves, therefore,...

GER 30 Surges To New High

Equity markets recovered swiftly after lower-than-expected US personal consumption expenditure quelled the fear of reflation. The DAX has bounced off the key short-term support at 14430 to challenge the all-time high at 14800. Solid momentum above a bullish MA cross confirms that buyers are still in control of the price action....