Spot Euro and Stock Markets Signals

Daily Forecast - 05 May 2015

Dax June contract

Dax June must hold above 11,630 to build on the recovery & re-target 11,680 then resistance at 11,720/730. It's worth profittaking on any longs here and trying shorts at 11,760/770 with a stop above 11,800. Just be aware that a break above 11,800 could trigger a move as far as resistance at 11,880/890. If we continue higher look for minor resistance at 11,925/930 and then a selling opportunity at 12,000/12,010.

Failure to hold above 11,630 keeps the market under pressure to target 11,590 then 11,525. If we continue lower look for 11,460 then yesterdays low at 11,424. Be ready to go with a break lower to target 11,385 then last week's low at 11,353. Just be aware that failure here this week targets good support at 11,300/295. Bulls must defend this important support level but longs need a stop below 11,255. A break lower piles on the pressure to target 11,230 then 11,195 and 11,165/160. A good chance of a bounce from here initially at least, but further losses cannot be ruled out and target 11,090/11,070. If we continue lower look for strong support at 10,985/970.

Eurostoxx June contract

EuroStoxx must hold above 3570/75 to test resistance at 3595/3600. Any shorts need stops above 3610 to target strong resistance at 3625/30. A high for the day possible but shorts need stops above 3637. A break above here is more positive & targets resistance at 3651/55, perhaps as far as 3664/68.

Failure to hold above first support at 3570/75 risks a slide to 3545/40 but below 3534 retests last week's low at 3525/21. A break lower not out of the question & targets 3511 then support at 3496/3490. A good chance of a low for the day but longs need wide stops below 3478. A break lower however targets 3464 then 3454/53 & 3439 before support at 3431/30.

Ftse June contract

FTSE June 6995/7000 but a gap open above here targets 7020/25 then 7045/50. Any further gains meet the all important all time high at 7081/7085.5.

Failure to beat 7000 targets 6055 then support at 6930/20. If this does not hold the downside look for 6905/6900 then strong support at 6885/6880. Again today this is an excellent buying opportunity but longs need stops below 6865. A break lower target however is a negative sell signal & sees 6880/6885 work as resistance to target next support at 6840/6835. If this does not hold the downside we look to target 6800 then 6775. If we continue lower look for strong support at 6760/6755.