For the last couple of weeks we are
observing price action limited between the ranges 1.0996 and 1.1077
which were briefly breached as a result of economic news and events. A
change in the sentiment in that range is also noticeable. After the
spike, buyers became more aggressive and active. That shifts the
expectations to positive for a breach of 1.1077. Should it be
successful, it can trigger an upside trend. Todays' lack of news in the
economic calendar may slow down the price action and we can witness a
close in the week’s range.
We can observe a slowdown in the uptrend
and a range is already forming between 107.58 and 108.24. Another test
of the 107.58 zone is possible and, if the price breaches and holds
below, a shift towards downtrend will become likely. A successful
breach above 108.24 would be a signal for trend continuation with
target at 109.50-60.
Here the uptrend continues with strong
momentum. After the successful breach of the psychological 1.2500, we
could expect a push towards the resistance around 1.2560-1.2580. If the
trend continues gaining inertia, the price could reach the next zone at
EUGERMANY30 erased a part of
yesterday’s gains towards the last few trading hours, however
the move looks like a retracement and the price could get more traction
for a breach of last week’s high. Should we see aggressive
resistance around 12475, the price could close the day in
yesterday’s range. The main support remains at 12311 and
minor intraday is at 12410.
Yesterday’s session began
positively but the index couldn't hold on to the gains and closed in
the red. That was mainly provoked by investor worries regarding the
jump in the US overnight repo rate which could lead to a lack of dollar
liquidity available to US banks. However it wasn't a massive sell off
and expectations remain positive for testing the last all time highs
around 27305 as the Federal Reserve intervened and pumped money into
the financial system. Nearest support are the zones 27000 and 26900.
Where will the market go?
Stay informed with a free subscription to our analyses.
DeltaStock’s daily technical analyses are provided by a team of professional dealers with many years of experience in the forex, indices, and shares trading scene. Our analysts are frequently invited to comment on a variety of economic topics for some of the nation’s leading financial portals, such as Investor.bg and Bloomberg TV Bulgaria.
These analyses are for information purposes only. They do not post a buy or sell recommendation for any of the financial instruments herein analyzed. The information is obtained from generally accessible data sources.
The forecasts made are based on technical analysis. However, Deltastock's Analyst Deptartment also takes into consideration a number of fundamental and macroeconomic factors, which we believe may impact the price moves of the observed instruments.
Deltastock AD assumes no responsibility for errors, inaccuracies or omissions in these materials, nor shall it be liable for damages arising out of any person's reliance upon the information on this page. Deltastock AD shall not be liable for any special, indirect, incidental, or consequential damages, including without limitation, losses or unrealized gains that may result.
Any information is subject to change without prior notice.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 66% of retail investor accounts lose money when trading CFDs with this provider.You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.