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The German index comes from its worst week since September, as the European Central Bank delivered a hawkish message, expecting more rate hikes ahead and steep economic slowdown
The US Federal Reserve downshifted to a smaller rate increase on Wednesday, but signaled more tightening ahead, projecting a higher terminal rate
FXCM's US30 CFD climbed 2% yesterday. This appreciation moved the index from its weak zone, between the lower blue and red bands, into its neutral region, between the blue bands (green square). On a relative basis, this is a movement of strength.
The NAS100 daily chart (left) trades at support (green-shaded horizontal). This zone is around the 11,500 level
The broader US index is having a bad week as market seem to be nervous around the global economy, despite the fact that China has been relaxing its zero-Covid policy
The German index is on the back foot this week, but the formation of a Golden Cross on the daily chart, shows potential for further advance
FXCM's US30 CFD has charted a bullish 1-2-3 pattern on the weekly scale. It seems to be in the midst of its next impulse move. To this end, we note that the stochastic has pushed into the upper quintile (blue arrow). The longer it stays in this region, the greater the chances of an impulse swing.
The NAS100 remains positioned in its bullish channel, between the upper blue and red bands. The market responded positively to Fed Chair Powell's Brooking Institution delivery, and a long blue candle was charted two days ago (green vertical rectangle).
Wall Street rallied on Wednesday, after Mr Powell’s remarks cemented market expectations for a smaller hike by the Fed, but steadies today ahead of the PCE Inflation update
CHN50: A beginner's guide to the China A50 index The CHN50 is an index of the 50 companies with the highest market capitalisation listed on the Shanghai and Shenzen stock exchanges. It both tracks the performance of A-listed company shares and offers a benchmark for investors to access China's domestic market. If you're keen on trading indices or CFDs (contracts for difference) in the second-largest economy in the world, the…
The German index pauses its eight-week profitable streak, showing little reaction to the softer preliminary inflation figures from Eurozone and Germany
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