Daily Forecast - 23 December 2015
Eurostoxx March contract
EuroStoxx bounced from the 3179/76 level right back up to resistance at 3235/30. Holding below here today re-targets 3215/13 then only minor support at 3195. Further losses could retest 3179/76. A break below here today sees 3164/60, perhaps as far as December lows at 3136/33.
First resistance at 3235/30 but above here is more positive & re-targets minor resistance at 3245. On a break higher today look for slightly stronger resistance at 3265/62. Further gains again target resistance at 3290/95 which could see a high for the day. Shorts need stops above 3305. A break higher targets 3320/25 then resistance at 3236/39. Shorts need stops above 3348.
Ftse March contract
FTSE holding above 6045 is positive for today & if we can beat 6075 we should test resistance at 6105/10. A break above 6120 however signals a move towards 6050/55 then strong resistance at 6170/75.
First support at 6040/35 is probably the most important of the day. Below here however re-targets 6010/20 then 5970/65. If we continue lower look for good support at 5949/45.
Dax March contract
Dax bounced back to yesterday's first resistance at 10550/560 in to the close. Above here today re-targets 10620/630 then stronger resistance at 10660/670. This should act as the main challenge for bulls again today but shorts need stops above 10700. A break higher targets 10735 then resistance at 10770/780. Further gains this week could target last week's high at 10825/835. A break above 10860 signals a move towards minor resistance at 10870/880 then very strong resistance at 10930/935 for a selling opportunity.
Failure to beat 10620/630 targets 10550/560 then minor support at 10480/470. If we continue lower look for 10430/425 then minor support at 10395/390. On a break lower today look for the next target of 10330/320 before support at 10270/260. If this does not hold the downside look for 10210/200 as the next target.
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 gains above 1.0750 after US data
EUR/USD manages to hold in positive territory above 1.0750 despite retreating from the fresh multi-week high it set above 1.0800 earlier in the day. The US Dollar struggles to find demand following the weaker-than-expected NFP data.
GBP/USD declines below 1.2550 following NFP-inspired upsurge
GBP/USD struggles to preserve its bullish momentum and trades below 1.2550 in the American session. Earlier in the day, the disappointing April jobs report from the US triggered a USD selloff and allowed the pair to reach multi-week highs above 1.2600.
Gold struggles to hold above $2,300 despite falling US yields
Gold stays on the back foot below $2,300 in the American session on Friday. The benchmark 10-year US Treasury bond yield stays in negative territory below 4.6% after weak US data but the improving risk mood doesn't allow XAU/USD to gain traction.
Bitcoin Weekly Forecast: Should you buy BTC here? Premium
Bitcoin (BTC) price shows signs of a potential reversal but lacks confirmation, which has divided the investor community into two – those who are buying the dips and those who are expecting a further correction.
Week ahead – BoE and RBA decisions headline a calm week
Bank of England meets on Thursday, unlikely to signal rate cuts. Reserve Bank of Australia could maintain a higher-for-longer stance. Elsewhere, Bank of Japan releases summary of opinions.