The foreign exchange markets are likely to have a quiet morning session ahead as investors enjoy the commonNFP silence of the wind. Much of the data will be released this afternoon as much emphasis has been placed on job data to determine the monetary path for the next few months, with markets expecting a strong figure of over 800,000 to start pointing at the Federal Reserve, saying once again to adjust to the times and do something to prevent.
So this morning we are turning our attention to the stock space, trying to catch some movement. The session started quite positively, all the great Europeans made good progress in the green, but the momentum has changed and we are now in the wrong direction.
Some of these indices were in a rather narrow range until this week, and the sessions on Wednesday and Thursday managed to increase them somewhat, but Europe seems to have left them a little dark.
DAX 30 levels
The DAX 30 was finally able to find more than 15,710 on Thursday after weeks of trying and strong resistance. The main challenge is to cross the 15,800 mark, the all-time high in the German index, and the previous two attempts were quickly reversed. Momentum has accumulated nicely in recent weeks, as the return of 15,050 wards provided room for new buyers to come in and take over. Recent range trading between 15,685 and 15,430 has also helped buyers build up, as the index was able to re-test support at just over 15,400, while boosting confidence.
DAX 30 Everyday schedule
FTSE 100 levels
The FTSE 100 has not been as lucky in its breakthrough attempt as it was in the same area a month ago. When the index reaches the 7120 range, it sees repeated fluctuations on both sides, but fails to take a significant break higher, with strong resistance at 770. Unlike the DAX, the momentum seems to fall slightly after the recent rise left the stochastic in the overbought area and the MACD failed to progress. . The RSI still has a long way to go before it is bought, but it has also begun to decline slightly, putting additional pressure on the FTSE’s short-term outlook. In order for the index to gain additional benefits, it would ideally have to close the 7200 mark over the next few sessions, otherwise we can see that the momentum is about to run out, leaving 7000 marks as an indicator of further selling pressure.
FTSE 100 daily schedule
CAC 40 levels
CAC 40 continues to shine and gets closer to its record level in a day. The French index has had 14 of the last 15 everyday candlesticks in green, which has helped paint a fairly clear picture of the higher lows. Today’s session is the first that has tipped towards a negative end in the last 8 days, so maybe we’ll see the difficulty of getting higher after such a good run. This may mean a small break in the ascending line so that momentum can accumulate further, and so the CAC may exceed 6800 in the next few sessions, or it may be the start of a new retreat towards 6600, although I see it less likely when things stand now.
CAC 40 daily card
– Written by Daniela Sabin Hathorn, Market Analyst
Follow Daniela on Twitter @HathornSabin