DAX30 UK100 FTSE MIB CAC40 Technical Analysis Elliott Wave 22 March 2019

Peter Mathers TradingLounge

DAX30 UK100 FTSE MIB CAC40 Technical Analysis Elliott Wave and Trading Levels

Expecting to see the European indices push up from there lows in the next session.

DAX30 the target is 11,650 and if the 11,700 develops support then expect new highs, without that support the market can fail between the 11,650 and 11,720 and move lower through the 11,500.

UK100 (FTSE 100) As long as 7300 remains the support then the market will climb higher, I have also moved the stop higher.

CAC40 The move down over the last few sessions appears bullish corrective, so expect new highs.

FTSEMIB Is in a strong bullish trend, that said expect resistance across 21500. In Trading Levels terms a Classic Trading Levels pattern should occur.

Peter Mathers
TradingLounge

Author

Peter Mathers

TradingLounge

Peter Mathers started actively trading in 1982. He began his career at Hoei and Shoin, a Japanese futures trading company.

EUR/USD trims gains, hovers around 1.1900 post-US data

EUR/USD trades slightly on the back foot around the 1.1900 region in a context dominated by the resurgence of some buying interest around the US Dollar on turnaround Tuesday. Looking at the US docket, Retail Sales disappointed expectations in December, while the ADP 4-Week Average came in at 6.5K.

GBP/USD comes under pressure near 1.3680

The better tone in the Greenback hurts the risk-linked complex on Tuesday, prompting GBP/USD to set aside two consecutive days of gains and trade slightly on the defensive below the 1.3700 mark. Investors, in the meantime, keep their attention on key UK data due later in the week.

Gold loses some traction, still above $5,000

Gold faces some selling pressure on Tuesday, surrendering part of its recent two-day advance although managing to keep the trade above the $5,000 mark per troy ounce. The daily pullback in the precious metal comes in response to the modest rebound in the US Dollar, while declining US Treasury yields across the curve seem to limit the downside.

XRP holds $1.40 amid ETF inflows and stable derivatives market

Ripple trades under pressure, with immediate support at $1.40 holding at the time of writing on Tuesday. A recovery attempt from last week’s sell-off to $1.12 stalled at $1.54 on Friday, leading to limited price action between the current support and the resistance.

Dollar drops and stocks rally: The week of reckoning for US economic data

Following a sizeable move lower in US technology Stocks last week, we have witnessed a meaningful recovery unfold. The USD Index is in a concerning position; the monthly price continues to hold the south channel support.