Futures for the German DAX 30 index attempted to resume growth after the strength of the support in the 11,400, where is the 50-day moving average. As the main drivers reduce investors recovered strengthening euro. However, the strengthening of the single currency against the dollar to a greater extent due to the situation in the US economy, where the Fed may be forced to start a cycle of rate increases even later than September.
Macroeconomic showgirl from the euro zone improved (ZEW index and Ifo indices better than expected in April), but the European Central Bank signals readiness to fully implement the program of quantitative easing, and it will restrain the strengthening of the euro. At the same time a positive static support the stock market. We are looking for opportunities to purchase at current relatively low levels.
|Dax 30 chart|
Support and resistance levels
Support 1 11544
Support 2 11390
Current price: 11641
Resistance 1 11810
Resistance 2 12070
DAX 30 index (FDAX) – buy FDAX – Buy at 11544. The purpose of the rebound – 11810 or 12070. Stop-Loss = 11390
Warning: Profitability in the past does not mean profitability in the future. Any projections are for informational purposes and do not guarantee the results obtained.