FxWirePro- FTSE 100 and DAX analysis

FTSE 100-

The UK index continues to trade lower for fourth consecutive days on Russia and Ukraine tension escalation. The risks of Russia invading Ukraine increased after Russia recognized the independence of Ukraine separatist regions of Donetsk and Lungask. FTSE 100 is trading below short-term Moving average 7457 (55- day EMA), 7532 (21-day EMA). The near-term support is around 7345, any breach below targets 7300/7200. The immediate resistance to be watched 7455, violation above will take the index to 7484/7520.

DAX30-

The German index was one of the worst performers in the past two days as demand for riskier assets declined due to geopolitical tension. In the weekly chart, the index is holding below Senkou span A (15539) and above Senkou span B (14462). Significant support is at 14250, a decline below that will drag the DAX to 14046/13685.

Major trend reversal level only if it breaks 15200. Minor resistance is 14730/15035.