DAX potentially sets up for the next leg down
The DAX bounce may have run its course as the index reacts off of crucial resistance.
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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The DAX bounce may have run its course as the index reacts off of crucial resistance.
Gold declines, and the dollar finds a bid as market participants prepare for Fed front-loading.
The market is waiting on an announcement after the Twitter board, and Elon Musk met over the weekend. Twitter is due to report its Q1 results on Thursday.
Cryptocurrencies have aligned themselves with the risk side of the market. More aggressive monetary policy is putting them under pressure.
As yields rise, pressure mounts on global indices, including the GER30.
The US30 has retraced to its 61.8% level. It is looking formidable.
There is an excess demand for oil, which is likely to support price.
Bitcoin bounced off its support pivot. However, the crypto may be running out of steam.
Yesterday, the EURUSD ended the day lower. Bears threaten to follow through today.
The US 10 year yield is overbought. So it will be a boon for stocks if it pulls back in the short term.
EURUSD reacts positively to hawkish comments.
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