Outlook on FTSE 100, DAX 40 and S&P 500 amid strong US earnings.
Foreign investor buying of the undervalued UK blue chip index led to further gains in the FTSE 100 which is trading at yet another record high. The 8,200 zone is now in focus, above which lies the 8,300 mark which is where the 161.8% Fibonacci extension of the March-to-June 2020 advance, projected higher from the October 2020 low, can be found.data but overnight recovered on better-than-expected US earnings.
The S&P 500 resumes its ascent, having on Thursday slipped to 4,990 on disappointing US Q1 preliminary GDP data, before recovering on strong earnings by the likes of Alphabet, Microsoft and Snap. The index is heading towards the 55-day simple moving average 5,114 above which the April downtrend line can be seen at 5,146.Leveraged trading in foreign currency or off-exchange products on margin carries significant risk and may not be suitable for all investors.
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