Alerts

Dow Jones, FTSE 100 & DAX Technical Forecast for the Week Forward

Fairness Evaluation and Information

Dow Jones | Upward Trajectory Stays Intact Regardless of Stalling within the Quick Time periodFTSE 100 | Bull Entice?DAX | Upside Appears Exhausted Following False Upside BreakDow Jones, FTSE 100 & DAX Technical Forecast for the Week Ahead

Supply: Thomson Reuters, DailyFX

Dow Jones | Upward Trajectory Stays Intact Regardless of Stalling within the Quick Time period

Modest losses for the week with the Dow Jones easing some zero.6% having didn’t consolidate above 28000. Consequently, with the index stalling within the close to time period, we glance to help on the 23.6% Fibonacci retracement (27588) earlier than a continuation of its bullish trajectory, provided that momentum indicators (DMI) proceed to tilt in direction of the upside.

Dow Jones Worth Chart: Each day Time Body (Oct 18 – Nov 19)

DaIly Down Jones Price Chart

FTSE 100 | Bull Entice?

A sizeable bounce again (largest intra-day achieve since Jul’29th) within the FTSE 100 to shut out the week in constructive territory. Nonetheless, with development indicators (ADX) have but to verify the uptick within the index, we see this transfer as a doable bull lure and thus expects positive factors to be restricted by the descending trendline at 7375. A fade within the index brings help at 7261 into focus, which marks the 38.2% Fibonacci retracement.

FTSE 100 Worth Chart: Each day Time Body (Sep 2018 – Nov 2019)

Daily FTSE Price Chart

FTSE 100 DMI and ADX Indicators

FTSE 100 With DMI and ADX Indicators

DAX | Upside Appears Exhausted Following False Upside Break

Elevated indicators of exhaustion within the DAX following the false upside break by way of 13300. Consequently, the DAX appears to be like to be prone to a pullback with give attention to help at 13000. As value motion stays considerably muted within the index, we see 13000 holding barring any notable shock on the commerce battle entrance. That stated, failure to take care of 13000 would open up the doorways for a transfer in direction of 12792 (76.four% Fibonacci retracement).

DAX Worth Chart: Each day Timeframe (Nov 2017 – Nov 2019)

Daily DAX Price Chart

RESOURCES FOR FOREX & CFD TRADERS

Whether or not you’re a new or skilled dealer, now we have a number of sources obtainable that can assist you; indicator for monitoring dealer sentiment, quarterly buying and selling forecasts, analytical and academic webinars held day by day, buying and selling guides that can assist you enhance buying and selling efficiency, and one particularly for many who are new to foreign exchange.

— Written by Justin McQueen, Market Analyst

To contact Justin, e-mail him at Justin.mcqueen@ig.com

Observe Justin on Twitter @JMcQueenFX

mailto:Justin.mcqueen@ig.com


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