|Day's range||12,825.22 - 12,982.92|
|52-week range||11,726.62 - 13,596.89|
German markets rallied significantly during the week but did give back some of the gains on Friday. This was in reaction to the tariffs being announced by the United States on Friday, but overall this market looks as if it remains bullish in general.
The German index pulled back during the trading session on Friday, reaching down towards the €13,000 level. This is an area that has been important in the past, so it’s not surprising that the sellers stopped in this general vicinity.
NEW YORK (AP) — U.S. stocks closed out a whirlwind week with a modest loss Friday as markets gauged how much to fret about the Trump administration's decision to step up the trade dispute between the world's two biggest economies.
The United Kingdom’s FTSE 100 Index closed higher on Thursday and broke the two-day losing streak. Carrying forward the strength, the FTSE 100 Index opened higher on June 15 and was trading with mixed sentiment in the morning session.
The German index exploded to the upside after the EUR/USD pair fell hard on Thursday. By doing so, we have sliced through the vital €13,000 level, which for me is a very significant turn of events.
The Nasdaq commanded the upside again and growth stocks showed strong moves on Thursday. The NYSE composite edged slightly lower and fell for a third day in a row.
Asian stock markets were mixed Friday after Wall Street largely finished with gains following the European Central Bank's announcement to phase out its bond-buying stimulus. Upbeat U.S. data helped bolstered ...
The United Kingdom’s FTSE 100 Index started this week on a stronger note and lost strength as the week progressed. Following a weak performance for two days, the FTSE 100 Index opened lower on June 14 and was trading with weakness in the morning session.
The German index rallied during the day on Wednesday, as we continue to see a little bit more of a “risk on” situation unfold in the equities markets. Beyond that, we have a significant amount of support just below, so it makes sense that we could continue to go to the upside.
Asian stocks slumped Thursday after the U.S. Federal Reserve raised its key interest rate and said it would pick up the pace of future increases. South Korea's market benchmark tumbled 1.6 percent on the ...
According to a report from Markit Economics, the final Eurozone manufacturing PMI has been falling gradually from its record high of 60.6 in December 2017. It was the slowest expansion in manufacturing activity since February. Major member countries of the Eurozone such as Spain, Italy, Germany (EWG), and France (EWQ) also witnessed the slower expansions in manufacturing activity in May as compared to April.
The Flat base and plunge downward are the main characteristics of the diving board pattern. The DAX30 dropped then spiked heavily reaching 12954. At this point, the retracement is underway. There are two POC zones. 12770-83 is the first POC, while 12716-42 is the POC2. We might see the bounce if the price touches the zone. For bulls, ideally, the price should stay above the Diving Board pattern trendline 12651. Targets are 12900, 12954 and 13000 at the break of W H4- 12968.
The German index initially try to rally during the day on Tuesday but found enough resistance above the pull back towards the 50 SMA on the hourly chart. I believe that the market does have bullish pressure underneath though, and the fact that we continue to make “higher lows” suggests to me that we should continue to find buyers on dips.
According to a report by Markit Economics, Germany’s final manufacturing PMI has been falling gradually since December 2017. It stood at 56.9 in May as compared to 58.1 in April. The PMI figure met the preliminary market estimate of 56.8. May’s Germany manufacturing PMI figure was the lowest expansion in manufacturing activity since February 2017.
The United Kingdom’s FTSE 100 Index closed lower last week and recorded the third consecutive weekly loss. However, the FTSE 100 Index closed at one-week high price levels on Monday and started this week on a stronger note. Carrying forward the strength, the FTSE 100 Index opened higher on Tuesday and was trading at elevated levels in the morning session.
German markets initially pull back during the trading session on Monday to find buyers at a large come around, psychologically significant number. It looks as if we are going to continue to go higher and given enough time I think we will break out to the upside.
The German index went back and forth during the week, dancing around the €12,750 level. This is an area that has attracted a lot of attention, and the neutral candle that has form for the week suggests that we are going to continue to see a lot of noise in this area.
The German index rallied a bit during the day on Friday, pulled back a bit, and then turned around to rally again. It looks as if the market is ready to continue going higher from this point.
The DAX fell during the trading session on Thursday, losing about 0.7% during the day, but remains well within the consolidation area that we have been trading in over the last couple of days. I think that there is plenty of support underneath, so although things have rolled over a little bit, it’s only a matter of time before the buyers get involved.