Outlook on FTSE 100, DAX 40 and S&P 500 ahead of Friday’s US non-farm payrolls.
The DAX 40 reversed lower on Tuesday despite German inflation hitting a 3-year low and probed the February-to-March accelerated uptrend line at 18,274 which held. On Wednesday morning it was briefly slipped through before being revisited. Above it, minor resistance can be seen around the 27 March low at 18,382.
The S&P 500 reversed lower from this week’s record high, made at 5,274, amid strong US data which makes investors worry about the return of inflation and pares backexpectations. The negative divergence on the daily Relative Strength Index forewarned traders that a reversal may occur with the S&P 500 so far slipping to 5,184.
Short-term the breached October-to-April uptrend line, now a resistance line, at 5,225 may be revisited but a fall through 5,184 would put the early March highs at 5,165 to 5,150 on the map.Leveraged trading in foreign currency or off-exchange products on margin carries significant risk and may not be suitable for all investors. We advise you to carefully consider whether trading is appropriate for you based on your personal circumstances. Forex trading involves risk.
We recommend that you seek independent advice and ensure you fully understand the risks involved before trading. Information presented by DailyFX Limited should be construed as market commentary, merely observing economical, political and market conditions. This information is made available for informational purposes only. It is not a solicitation or a recommendation to trade derivatives contracts or securities and should not be construed or interpreted as financial advice.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
FTSE 100, DAX 40 and S&P 500 Look Bid Ahead of FOMC MeetingOutlook on FTSE 100, DAX 40 and S&P 500 ahead of FOMC and BoE monetary policy meetings.
Read more »
FTSE 100, S&P 500 and Nasdaq 100 Benefit from Rate Cut ExpectationsOutlook on FTSE 100, S&P 500 and Nasdaq 100 ahead of US Non-Farm Payrolls
Read more »
FTSE 100 Surge Pauses while DAX 40, S&P 500 Consolidate Below Record HighsOutlook on FTSE 100, DAX 40 and S&P 500 ahead of the weekend.
Read more »
DAX 40, S&P 500 Trade Close to Record Highs while FTSE 100 nears 8,000 MarkOutlook on FTSE 100, DAX 40 and S&P 500 amid FOMC and MPC member speeches.
Read more »
DAX 40 makes yet another record high, FTSE 100 nears 8,000 mark while S&P 500 slipsOutlook on FTSE 100, DAX 40 and S&P 500 ahead of Friday’s Fed PCE inflation reading.
Read more »
FTSE 100, DAX 40 and Nasdaq 100 Await Plethora of Central Bank MeetingsOutlook on FTSE 100, DAX 40 and Nasdaq 100 ahead of BoE and FOMC rate decisions.
Read more »