Daily Forecast - 05 April 2016
Eurostoxx June contract
EuroStoxx first resistance at 2905. Shorts need stops above 2920!! Further gains target 2925 then strong resistance at 2950/55.
Holding below 2880 however risks a retest of minor support at 2846/42. A break below last week's low at 2840 reinforces the 1 year bear trend & targets 2831/27, 2817/15 & mid-late February lows at 2803/2799.
Ftse June contract
FTSE first resistance at 6100 but above 6105 targets 6126/30, perhaps as far as minor resistance at 3 week highs of 6155/63. On a break higher this week look for a gap to fill at 6190/95 then strong 200 day moving average resistance at 6205/10.
Failure to hold above 6095 targets good support at 6058/53. A break below 6040 however could re-target 6018 before last week's low at 6010 & important support at the March low at 6000/5999. A break below 5990 this week risks a slide good support at 5945/40.
Dax June contract
Dax must hold above 9815/05 today to remain stable. Minor resistance at 9875 but above here targets 9925 then stronger resistance at 9965/75 & the main challenge for bulls today. Shorts need stops above 10000. A break higher targets 100 day moving average resistance at 10070/1080. Try shorts with stops above 10145. Only a daily close above the 100dma turns the short term outlook more positive.
Failure to hold above 9800 is more negative & targets 9740/35 then last week's low at 9713. Further losses this week target 9675/70 then good support at 9600/9590. This is the best chance of a low for the week but longs need stops below the gap at 9550.
The contents of our reports are intended to be understood by professional users who are fully aware of the inherent risks in Forex, Futures, Options, Stocks and Bonds trading. INFORMATION PROVIDED WITHIN THIS MATERIAL SHOULD NOT BE CONSTRUED AS ADVICE AND IS PROVIDED FOR INFORMATION AND EDUCATION PURPOSES ONLY.
Recommended Content
Editors’ Picks
EUR/USD clings to daily gains above 1.0650
EUR/USD gained traction and turned positive on the day above 1.0650. The improvement seen in risk mood following the earlier flight to safety weighs on the US Dollar ahead of the weekend and helps the pair push higher.
GBP/USD recovers toward 1.2450 after UK Retail Sales data
GBP/USD reversed its direction and advanced to the 1.2450 area after touching a fresh multi-month low below 1.2400 in the Asian session. The positive shift seen in risk mood on easing fears over a deepening Iran-Israel conflict supports the pair.
Gold holds steady at around $2,380 following earlier spike
Gold stabilized near $2,380 after spiking above $2,400 with the immediate reaction to reports of Israel striking Iran. Meanwhile, the pullback seen in the US Treasury bond yields helps XAU/USD hold its ground.
Bitcoin Weekly Forecast: BTC post-halving rally could be partially priced in Premium
Bitcoin price shows no signs of directional bias while it holds above $60,000. The fourth BTC halving is partially priced in, according to Deutsche Bank’s research.
Week ahead – US GDP and BoJ decision on top of next week’s agenda
US GDP, core PCE and PMIs the next tests for the Dollar. Investors await BoJ for guidance about next rate hike. EU and UK PMIs, as well as Australian CPIs also on tap.