The German stock DAX 30 index attempted break-established in the last two months of the downtrend after the Prime Minister of Luxembourg’s presidency of the EU Xavier Bettel made for the possibility of debt restructuring in Greece as part of a new agreement between Athens and Brussels. This is the first appeal from such a high-ranking EU officials and investors encouraged by this news.
Additional support shares have also positive data on the growth rate of German exports in May, which were published today in the morning and were the best since the beginning of the year.
The dax 30 index has successfully tested support in 10650, which is the 200-day moving average. This is trading at 12% below the annual maximum, and the deviation from the 50-day moving average reached the lowest level since September. We believe that this positive background, and in anticipation of the negotiations between Greece and the Eurogroup on Sunday that promises to be productive, DAX attractive to search long positions.
|Dax index chart|