Grzegorz_G
Short

Ger30 not break 10800 and events await

FX:GER30   DAX index of German listed shares
152 0 4
GER30             bounced off the important support zone and moved towards this year's peaks, but you can see that the buyers have big problems with a cross-zone 10,800th Moreover, fundamentals support the scenario downward. Yesterday's ISM data depart opportunity to strengthen the dollar, and data from Germany's disappointing. Both the PMI and the IFO index turned out to be significantly weaker than expected, like industrial production today in the morning. The market also forget about Brexicie and although the data so far do not show that it had an impact on economic activity, a subject that still can bring some negative surprises.


The graph D1 shows that GER30             not break important resistance area , and the weaker data should lead to a clash of buyers with reality. Tomorrow's meeting of the ECB raises the risk of disappointment, as the market expects stimulus measures, which do not need to be made. Moreover, we believe that recent events create a negative environment for equity markets, but due to the lack of expected increases by the Fed may be more visible on the market in Europe than in the United States.

Russia's situation also prepares us strong surprise in the coming days.

And the graph begins to draw a figure double peak.

For this reason, I expect the downward movement, the extent of which may lead to a test of the key support area in the vicinity of 9500.
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