Resistance hampering GER30 progress.

  • GER30
    (${instrument.percentChange}%)

The left chart show's the GER30 daily heikin ashi (HA) candles. Over the last six trading sessions, the index has battled and failed to overcome overhead resistance around the 14,550 level (red shaded horizontal). HA candles are trend-following in nature, and the latest candle has turned red after the index reaction off of resistance - a bearish development

The righthand hourly chart has bearish signals. The EMAs have turned down, and the stochastic has crossed negatively (black ellipses). If the stochastic falls below 20 (blue arrow) and holds that position, the GER30 index will be under pressure.

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Russell Shor

Senior Market Specialist

Russell Shor joined FXCM in October 2017 as a Senior Market Specialist. He is a certified FMVA® and has an Honours Degree in Economics from the University of South Africa. Russell is a full member of the Society of Technical Analysts in the United Kingdom. With over 20 years of financial markets experience, his analysis is of a high standard and quality.

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