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.
Reminder of my prevision of last week: « My perspectives for next week are a bit different than last week. I think Bonds are going to stabilize at this level and it will create movements on the market but in the end we will stay in the big range 13700 - 14100 with a small uptrend which will rise to 13900. »
I was not that for from what happen: The $GER30 stay between the resistance of 14100 and the support of 13900 and finish in the middle of the range.
We can say that it follows quiet well my perspectives for this week.
Monday: The US Bond calm down and the approval of the US covid plan by the House of Deputies help GER30 to make points and helps it to finish around 14050.
Tuesday: The US Bond continues to stay calm and push the GER30 to his resistance 14100 (where I short GER30).
Wednesday: GER30 was closed to break the resistance of 14100 but the bad news on the US jobs and the rise of US Bonds, get rid of the bull trend and push the GER30 to 14000.
Thursday: During all the morning the market has tried to be bull, but the opening of US markets push GER30 towards the support of 13 900 (where I bought a position which is still open)
Friday: The futures tried to push GER30 up while the real market pushed it down. Investors wants to believe in the adoption by the Senate of the covid Plan.
My perspectives for next week are a rise over the 14100 support towards the 14300 new support in the beginning of the week (Monday and Tuesday) use to the Senate acceptance of the US Covid plan which occurred few hours ago and then a fall to 14100 or 13900 because of the rise of US bonds.
What to follow next week?
At first, the US Bond during the whole week and the German and French Bonds also.
Then:
- Monday: Calm;
- Tuesday: Calm.
- Wednesday: Bank of Canada interest rates and US Crude Oil inventories
- Thursday: ECB interest rates & US new unemployed indicator
- Friday: UK GDP.
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.
Reminder of my prevision of last week: « My perspectives for next week are a bit different than last week. I think Bonds are going to stabilize at this level and it will create movements on the market but in the end we will stay in the big range 13700 - 14100 with a small uptrend which will rise to 13900. »
I was not that for from what happen: The $GER30 stay between the resistance of 14100 and the support of 13900 and finish in the middle of the range.
We can say that it follows quiet well my perspectives for this week.
Monday: The US Bond calm down and the approval of the US covid plan by the House of Deputies help GER30 to make points and helps it to finish around 14050.
Tuesday: The US Bond continues to stay calm and push the GER30 to his resistance 14100 (where I short GER30).
Wednesday: GER30 was closed to break the resistance of 14100 but the bad news on the US jobs and the rise of US Bonds, get rid of the bull trend and push the GER30 to 14000.
Thursday: During all the morning the market has tried to be bull, but the opening of US markets push GER30 towards the support of 13 900 (where I bought a position which is still open)
Friday: The futures tried to push GER30 up while the real market pushed it down. Investors wants to believe in the adoption by the Senate of the covid Plan.
My perspectives for next week are a rise over the 14100 support towards the 14300 new support in the beginning of the week (Monday and Tuesday) use to the Senate acceptance of the US Covid plan which occurred few hours ago and then a fall to 14100 or 13900 because of the rise of US bonds.
What to follow next week?
At first, the US Bond during the whole week and the German and French Bonds also.
Then:
- Monday: Calm;
- Tuesday: Calm.
- Wednesday: Bank of Canada interest rates and US Crude Oil inventories
- Thursday: ECB interest rates & US new unemployed indicator
- Friday: UK GDP.
I wish you a good trading week,
If you want any clarification do not hesitate to contact me.
Stay safe,
Alexandre