Dax Technical Failure & Euro Support
The DAX resistance point is especially resilient, representing a confluence of the: i) April trendline resistance; ii) Death Cross highlighted by the 55-moving average crossing below the 100-moving average.
These technicals are a concrete reminder of the intermarket dynamics at play in favour of the uptrend in EURUSD, bund yields and the downtrend in DAX-30 and Eurostoxx.
EURUSD seen supported at $1.1050s before regaining $1.15. 10-yr bund yield seen supported at 0.80% before regaining 1.10. Dax-30 unlikely to break below 10K but remains capped at 11,650.
It's getting real with yields
by Ashraf Laidi | Aug 2, 2021 18:10
ندوة مساء الثلاثاء مع أشرف العايدي
by Ashraf Laidi | Aug 2, 2021 16:44
Dollar Dips, Complex PCE Next
by Adam Button | Jul 30, 2021 13:05
We're a ways away
by Adam Button | Jul 29, 2021 12:54
New Premium Trade & Pressure Lifts on the Fed
by Adam Button | Jul 28, 2021 18:40