Technical Analysis

European major indices close higher for the day and the week

German DAX tests its 100/50 day moving averages

the major European indices are closing higher for the day and also closing higher for the week. The EuroStoxx 600 index rose by 2.6%. This was the best week since March.. UK’s FTSE 100 is trading at 7 month high. The German Dax test its 50 and 100 day moving averages.

The provisional closes are showing:

  • German DAX, +0.8%
  • France’s CAC, +0.6%
  • UK’s FTSE 100 +0.35%
  • Spain’s Ibex +0.8%
  • Italy’s FTSE MIB, +0.8%

For the trading week:

  • German DAX, +2.5%
  • France’s CAC, +2.57%
  • UK’s FTSE 100, +1.9%
  • Spain’s Ibex, +0.5% 
  • Italy’s FTSE MIB, +1.6%

Looking at the daily chart of the German Dax, the high price reached 15598.58. That was just short of its 50 and 100 day moving averages at 15599 (see black and blue moving average lines in the chart below).

Invest in yourself. See our forex education hub.

Articles You May Like

Elon Musk says the Fed must cut rates ‘immediately’ to stop a severe recession
Gold rate today: Yellow metal trades flat, silver holds Rs 66,000
MongoDB stock jumps 27% after cloud database company shows surprise adjusted profit
Dollar retraces its rise. GBPUSD trades to a new session high
Canadian Dollar Weakens in Otherwise Indecisive Markets

Leave a Reply

Your email address will not be published. Required fields are marked *