Jump to content

FTSE, DAX Price Forecast: Rate Hikes Take Center Stage as Equities Suffer


Recommended Posts

Jun 10, 2022 | DailyFX
Richard Snow, Analyst

DAX, FSTE 100 NEWS AND ANALYSIS

  • FTSE set to mark second successive weekly decline.
  • Rate hikes take center stage: ECB (yesterday) and BoE next week.
  • DAX technical levels assessed as price action erases prior breakout gains.

Rate hikes take center stage as stocks suffer

FTSE 100 Technical Analysis

The FTSE 100 signaled a top when price action attempted, but failed numerous times, to close above 7615 – leaving a series of extended upper wicks to show for it. Since then, the index has dropped below 7565 and the crucial 7400 level (prior swing high) to end the week.

Support lies at 7357 followed by 7283 and 7220 before the long-term ascending trendline from March 2020 comes into play. Nearest resistance, naturally comes in at 7400 with 7565 appearing an awfully long distance away. The MACD reveals a bearish crossover which tends to support a bearish outlook. However, something to note is that the FTSE has put in some impressive recoveries after sizeable two-day declines in the past.

Daily FTSE 100 Chart

FTSE, DAX Price Forecast: Rate Hikes Take Center Stage as Equities Suffer

Source: TradingView, prepared by Richard Snow

 

DAX Technical Analysis

The outlook for the DAX looked fairly bullish after the triangle breakout which has just about surrendered all of those prior gains. 13,910 stands in the way of continued bearish momentum and may influence where we end the week. Resistance comes in at 14,270 followed by 14,600.

The MACD also highlights a bearish crossover which suggests further downside for the DAX but as mentioned earlier, the weekly close should be monitored for developments around the 13910 level.

Daily DAX Continuous Futures Chart

FTSE, DAX Price Forecast: Rate Hikes Take Center Stage as Equities Suffer

Source: TradingView, prepared by Richard Snow

Link to comment

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
  • General Statistics

    • Total Topics
      22,092
    • Total Posts
      92,942
    • Total Members
      42,474
    • Most Online
      7,522
      10/06/21 10:53

    Newest Member
    scobes2
    Joined 17/05/23 10:51
  • Posts

    • Elliott Wave Analysis TradingLounge Daily Chart, 1 June 23,   Binance coin/U.S.dollar(BNBUSD) BNBUSD Elliott Wave Technical Analysis Function: Follow Trend Mode: Motive Structure: Impulse Position: Wave 5 Direction Next higher Degrees: wave (C) of Motive Details: Wave 5 is equal to Wave 1 at the 298.3 level. Wave Cancel invalid level: 220.0 Binance coin/U.S.dollar(BNBUSD)Trading Strategy: There is still a risk that the price will fall further due to The sub-wave within the wave (C) is incomplete. This corresponds to the price being below the MA200 line, so wait for the wave. (C) Done to join the trend again. Binance Coin/U.S.dollar(BNBUSD)Technical Indicators: The price is below the MA200 indicating a downtrend MACD and RSI are Bearish momentum. TradingLounge Analyst: Kittiampon Somboonsod, CEWA Source : Tradinglounge.com get trial here!   Elliott Wave Analysis TradingLounge 4H Chart, 1 June 23,   Binance coin/U.S.dollar(BNBUSD) BNBUSD Elliott Wave Technical Analysis Function: Follow Trend Mode: Motive Structure: Impulse Position: Wave 5 Direction Next higher Degrees: wave (C) of Motive Details: Wave 5 is equal to Wave 1 at the 298.3 level. Wave Cancel invalid level: 220.0 Binance coin/U.S.dollar(BNBUSD)Trading Strategy: There is still a risk that the price will fall further due to The sub-wave within the wave (C) is incomplete. This corresponds to the price being below the MA200 line, so wait for the wave. (C) Done to join the trend again. Binance Coin/U.S.dollar(BNBUSD)Technical Indicators: The price is below the MA200 indicating a downtrend MACD and RSI are Bearish momentum.
    • 🔸Hello traders, let's review the 4 hour chart for AUDUSD today. Recently price was locked inside distribution trading range and subsequently it broke down below key s/r level near 6600 and hit 6500. Following the normal distribution pattern. 🔸Short-term expecting throwback to re-test mid of the distribution range and then expecting new wave of short-selling once we trigger 6700. Bears still maintain strategic control. 🔸Recommended strategy for AUDUSD bears: wait for the short-term bounce to complete near 6700 and then re-enter on SELL SIDE. TP1 bears +200 pips TP2 bears final +400 pips at 6350. Keep in mind this is a swing trade setup so will take more time to complete. good luck! 🎁Please hit the like button and 🎁Leave a comment! RISK DISCLAIMER: Trading Futures , Forex, CFDs and Stocks involves a risk of loss. Please consider carefully if such trading is appropriate for you. Past performance is not indicative of future results. Always limit your leverage and use tight stop loss.  
    • Analog Devices Inc., Elliott Wave Technical Analysis Analog Devices Inc., (ADI:NASDAQ): Daily Chart, 31 May 23, ADI Stock Market Analysis: We reacted higher off equality of C vs. A as expected and we seem to be wanting to continue higher.   ADI Elliott Wave Count: Wave C of (2). ADI Technical Indicators: Above 200EMA. ADI Trading Strategy: Looking for further upside into wave 1 to resume upside, we will have additional confirmation once we break the top of wave B. TradingLounge Analyst: Alessio Barretta Source : Tradinglounge.com get trial here!       Analog Devices Inc., ADI: 1-hour Chart, 31 May 23, Analog Devices Inc., Elliott Wave Technical Analysis ADI Stock Market Analysis: Looking for a potential five wave move off the lows, e are now expecting a three wave move into wave (ii) to then look for potential longs. ADI Elliott Wave count:  Wave  (i) of {i}. ADI Technical Indicators: 20EMA as support.   ADI Trading Strategy: Looking for a three wave move pullback in wave (ii) before resuming higher.
×
×
  • Create New...