Hello everyone,
This week, I offer my analysis of the movements of $GER30 during the week and my outlook for next week.
Have nice reading and be pleased to comment if you want.
The $GER30 tests like last week the resistance of 14100 and the support of 13900 and finally end the week in the middle waiting.
Monday: The news of the weekend were very good in UK (that is why in the commentary of my precedent post I decided to buy $UK100). And those news pushed the $GER30 over is resistance of 14100. Moreover the fact that Donald Trump was acquitted, open the perspective of a fast help plan in the US.
Tuesday: A lot of statistics in Europe or US were good nevertheless the $GER30 enter the range again because it needed to breath.
Wednesday: A general rise of the interest rates for the US or Germany rose a new interest in those product and thus the $GER30 which is complementary fall and tested the support 13900
Thursday: A lot of bad results of several company went out then the US unemployment bad data help the $GER30 to fall under the support of 13900.
Friday: After 3 red days, investors have decided that the price was low enough and the GER30 went back in the range.
To sum up: like last week the $GER30 maintained itself in the range of 13900 and 14100. In my opinion, it is still in an uptrend but is waiting for a catalyzer which may occur in March.
My perspectives for next week are not very uptrend on the $GER30. I think it will consolidate the rise of February and stay in the range or follow a small downtrend staying of 13732.
What to follow next week?
- Monday: German IFO Business Climate which will give an idea of the current climate in Germany;
- Tuesday: Consommer Price Index which may rise risks on inflation.
- Wednesday: Crude Oil inventories
- Thursday: US unemployment
- Friday: calm
I wish you a good trading week,
If you want any clarification do not hesitate to contact me.
Stay safe,
Alexandre
This week, I offer my analysis of the movements of $GER30 during the week and my outlook for next week.
Have nice reading and be pleased to comment if you want.
The $GER30 tests like last week the resistance of 14100 and the support of 13900 and finally end the week in the middle waiting.
Monday: The news of the weekend were very good in UK (that is why in the commentary of my precedent post I decided to buy $UK100). And those news pushed the $GER30 over is resistance of 14100. Moreover the fact that Donald Trump was acquitted, open the perspective of a fast help plan in the US.
Tuesday: A lot of statistics in Europe or US were good nevertheless the $GER30 enter the range again because it needed to breath.
Wednesday: A general rise of the interest rates for the US or Germany rose a new interest in those product and thus the $GER30 which is complementary fall and tested the support 13900
Thursday: A lot of bad results of several company went out then the US unemployment bad data help the $GER30 to fall under the support of 13900.
Friday: After 3 red days, investors have decided that the price was low enough and the GER30 went back in the range.
To sum up: like last week the $GER30 maintained itself in the range of 13900 and 14100. In my opinion, it is still in an uptrend but is waiting for a catalyzer which may occur in March.
My perspectives for next week are not very uptrend on the $GER30. I think it will consolidate the rise of February and stay in the range or follow a small downtrend staying of 13732.
What to follow next week?
- Monday: German IFO Business Climate which will give an idea of the current climate in Germany;
- Tuesday: Consommer Price Index which may rise risks on inflation.
- Wednesday: Crude Oil inventories
- Thursday: US unemployment
- Friday: calm
I wish you a good trading week,
If you want any clarification do not hesitate to contact me.
Stay safe,
Alexandre