European Indices Coming Back From Dead
New week, new trading opportunities! Frankly speaking, we have quite a few of them with two dominant topics: reversal on the American Dollar and a surge on stocks. Weakness of the USD is definitely striking and should not be ignored but in this trading sniper video, we will focus on the rises on the stock exchanges as for example DAX, is coming back from a very dangerous sell signal…
So yes, DAX is our first instrument of the day, and oh boy, what a day for DAX it is! On Friday, the German index finished with a breakout of the crucial 12800 support and a proper sell signal. This was surprisingly totally ignored today and the price came back above 12800 additionally breaking two mid-term dynamic resistances. A true display of bullish power.
Your capital is at risk
French CAC is also climbing higher after the price broke the upper line of the flag and the horizontal resistance on 4922. The next target is a long-term down trendline, which is connecting lower highs since the beginning of June.
OK, Europe may be fine but the real star is definitely America with SP500 being on all-time highs as we speak. If it is a surprise for You then probably you are not paying attention to what is going on around You. Unlimited money supply from central banks, allowed traders to be reckless and forget about the fact that markets can also move in a direction other than north. Strength is so overwhelming that today, price broke even the upper line of the channel up formation, and believe me, this does not happen very often.
For a look at all of today’s economic events, check out our economic calendar.