Jump to content

Welcome to the new Traders Laboratory! Please bear with us as we finish the migration over the next few days. If you find any issues, want to leave feedback, get in touch with us, or offer suggestions please post to the Support forum here.

  • Welcome Guests

    Welcome. You are currently viewing the forum as a guest which does not give you access to all the great features at Traders Laboratory such as interacting with members, access to all forums, downloading attachments, and eligibility to win free giveaways. Registration is fast, simple and absolutely free. Create a FREE Traders Laboratory account here.

DayTradeIdeas

Dax, FTSE, Eurostoxx & S&P Daily Technical Forecast

By DayTradeIdeas, in Market News & Analysis

Recommended Posts

DayTradeIdeas    10

DayTradeIdeas
Posted

Eurostoxx tested the 200 week MA and Oct high at 2575/78 and blipped higher to 2582 in the afternoon but could make it no further.

If we beat 2582 today this should lead to a test of 2012 highs and the big double top at 2602/07. Clearly this is a very significant level and with the market overbought on daily and shorter term charts there is a strong chance of a high here for this 2 week recovery. We have to attempt shorts here with a stop above 2613. We then run in to the 61.8% retracement level of the losses from the highs in 2011 at 2638 and this therefore should be very tough resistance. Attempt shorts once again with a stop and reverse in to longs above 2650.

Support at 2567/66 but below 2556 we could test better support at 2546/43. A low for the day here is very possible so worth covering any shorts but if attempting longs we need stop/reverse in to shorts below 2532 for a move to 2521/19.

 

FTSE broke 5859 but has so far failed to test the Oct/Nov highs at 5903/07. With the market no overbought on daily and shorter term charts we may not each this far as profit taking sets in. A move below 5855 signals weakness creeping in and should see last

weeks high at 5837 then possibly 5820/15 support tested. Watch for a low for the day here so exit any shorts but if we try longs here we need stops below 5804. Sell in to shorts on a break here as this could keep the market under pressure for 5783/73.

If we manage to push through 5886 we run in to the Oct/Nov highs at 5903/07 and a good chance we go no further. However if we do continue on through here the Sept highs of 5933 could be the next stop.

 

Dax broke trend line resistance at 7409 but the move was limited to 7418 as the market starts to look over bought on daily and shorter term charts.

Even so we cannot rule out a break above yesterday’s high to test October & November highs at 7440/49. We should struggle here so worth exiting any remaining longs and moving in to short positions up to the 2012 highs at 7476. We will be looking to stop out of shorts however and buy back in to longs on a break above 7500.

Support at 7382 then 7360 is the target below. Failure here sees us drifting further towards 7341, possibly 7323. Exit any remaining shorts here and look to buy in to longs on a move towards 7310/07. Stops on longs needed below 7295. Look to sell back in to shorts then with a move to 7270/65 likely.

 

S&P did break 1416 but only made it as far as 1418. This is 55 day MA as well as the high for the first half of this year. The market is overbought now on the daily and shorter term charts so there is a risk we make it no higher now and start to hit profit taking.

1410 is the level to watch as a break below here sees us back towards 1407/05 and the 100 day moving average. We then find good support at 1401/00 and a probable low for the day if tested. If attempting longs here we need a stop/reverse in to short positions below 1395 for 1390/88.

We are in a very strong 2 week up trend so we cannot rule out a break above 1418 for a test of the 1423/25 resistance level. This should be very tough to beat so worth exiting longs and trying shorts with stops above the Nov highs at 1432.

eurostxx.pdf

Dax.pdf

Ftse.pdf

S&P.pdf

Share this post

Link to post
Share on other sites

Vinayak    10

Vinayak
Posted

I've been pretty bullish on the S&P 500 and this was met with some criticism here on Seeking Alpha. Anyway, it's not just the S&P that has me excited, but also the German DAX (DAX). As of late, speculators have been switching their focus from Europe to the U.S. with an occasional glance at what is happening in the third largest economy on the planet.

 

Germany leading growth in the eurozone

 

Germany is the three hundred pound gorilla in the eurozone. While it is true that GDP dropped in Germany, the thing that eurozone investors will find encouraging is the positive statements coming out of the Bundesbank. The Bundesbank and German ministers have estimated that Germany will grow over 0.5% in the first quarter of 2013.

 

Read the rest of the article here: DAX Will Reflect German Economic Power In The EU - Seeking Alpha

Share this post

Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

×
Go To Topic Listing

  • Topics

  • Posts

    • Stocks4life
      Breakout and Swing Stock Ideas

      By Stocks4life · Posted

      INTC Intel stock watch, holding at 24.17 gap support area at https://stockconsultant.com/?INTC
    • Stocks4life
      Breakout and Swing Stock Ideas

      By Stocks4life · Posted

      SAGE Therapeutics stock, strong day, watch for a top of range breakout at https://stockconsultant.com/?SAGE
    • Stocks4life
      Breakout and Swing Stock Ideas

      By Stocks4life · Posted

      KOLD ProShares UltraShort Bloomberg Natural Gas ETF, watch for a bottom breakout above 23.22 at https://stockconsultant.com/?KOLD
    • HFblogNews
      HFMarkets (hfm.com): Market analysis services.

      By HFblogNews · Posted

      Date: 26th March 2025.   GBP Comes Under Pressure From Tough Budget and Low Inflation!   The British Pound is one of the worst-performing currencies of the day. The poor performance is due to pressure from low Inflation and what investors expect to be a tough budget. Why is the UK announcing a stricter budget and for how long will there be pressure on the GBP? Let’s find out! Reasons Investors Are Cautious About The New UK Budget The Pound has fallen 0.32% against the USD and more than 0.50% against the Australian and Canadian Dollar. The Pound is not the worst-performing currency of the day yet, but if the GBPJPY continues to decline as it has over the past hour, the GBP will be at the bottom of the table. The downward momentum is due to the inflation rate which fell from 3.00% to 2.8%. Previously investors were expecting the rate to remain at 3.00%. Many investors fear the fall in inflation is due to weak economic growth and struggling consumer demand. If this continues to be the case, the Bank of England is likely to consider a rate cut.   GBPUSD 30-Minute Chart on March 26th   The Confederation of British Industry (CBI) released its retail sales index for March today, showing a decline from -23.0 to -43.0, the lowest level in eight months, compared to the initial forecast of -28.0. According to CBI experts, businesses in the retail and wholesale sectors are experiencing pressure from global trade challenges, while the new government budget, which entails a substantial rise in debt, is further straining demand. Another key factor contributing to the Pound’s downfall is the UK’s budget and the chancellor's speech. The new UK budget will be released today and the Chancellor will speak in parliament at 12:30 GMT. Investors fear that the chancellor will announce further austerity measures and cuts to the budget. This is mainly in order to spend more on defence and adjust the budget to the weaker economic performance. The chancellor has also stated that 10,000 public sector jobs may be eliminated, with additional savings potentially coming from changes in the accounting treatment of billions of pounds reallocated from overseas aid to the defence budget. The question that traders are asking is whether the Pound will continue to decline. This will primarily depend on how strict the budget is, the chancellor's growth projections and how the bond market reacts. Nonetheless, the technical analysis continues to provide a bearish and dim bias for the upcoming 24 hours. GBPUSD - Technical Analysis Points Towards A Weakening GBP The GBPUSD has now been declining since 18:00 GMT Tuesday and failed to form a higher high. Therefore price action is partially indicating downward price movement and this signal will likely strengthen if the price falls below 1.29011. The price is also trading below the 75-bar EMA, 100-bar SMA and below the neutral level of the RSI. These factors also strengthen the bearish bias of the currency exchange. The US Dollar index is currently trading higher this morning but traders will monitor how the index will react to the European open. This is because the index has fallen 0.08% since the European Cash Open. Nonetheless, the momentum continues to remain mainly in favour of the Dollar. The only concern for traders is the support level at 1.29011.   USDX (US Dollar Index) 30-Minute Chart on March 26th   Key Takeaway Points: Pound Weakness: The British Pound is struggling due to lower inflation and budget concerns. Retail Sales Drop: The CBI retail index hit an eight-month low, signalling economic strain. Austerity Fears: Investors worry about public sector cuts and defence spending shifts. The bond market reaction will be key for the Pound. Bearish GBP Outlook: Technical indicators suggest further decline, pending budget impact. Always trade with strict risk management. Your capital is the single most important aspect of your trading business.   Please note that times displayed based on local time zone and are from time of writing this report.   Click HERE to access the full HFM Economic calendar.   Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding of how markets work. Click HERE to register for FREE!   Click HERE to READ more Market news.   Michalis Efthymiou HFMarkets   Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in Leveraged Products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
    • Stocks4life
      Breakout and Swing Stock Ideas

      By Stocks4life · Posted

      X United States Steel stock, great day and top of range breakout at https://stockconsultant.com/?X
×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use.

  I accept