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Major European Indices Technical Analysis

Germany DAX Index: Germany DAX index has recovered till 10446 and started to decline from that level. It is currently trading at 10268. The index minor support is around 10200 and break below targets 10000/9890. On the h…

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Germany DAX Index:

  • Germany DAX index has recovered till 10446 and started to decline from that level. It is currently trading at 10268.
     
  • The index minor support is around 10200 and break below targets 10000/9890.
     
  • On the higher side major resistance is around 10556 (Kijun-Sen) and break above confirms minor trend reversal a jump till 10630/10800 is possible.

It is good to sell on rallies around 10350 with SL around 10560 for the TP of 10000.

UK FTSE 100:

  • FTSE 100 has made a low of 5865 and slightly recovered from that level . Short term trend is slightly bullish as long as support 5860 holds.
     
  • On the higher side major resistance is around 6020 and any break above 6020 will take the index till 660/6105/6130. The minor resistance is around 5965.
     
  • The pair's major support is around 5860 and break below targets 5800.

It is good to sell on rallies around 5960-70 with SL around 6020 for the TP of 5870/5800

France CAC Index:

  • CAC has recovered after making a low of 4467. It has closed around 4538
     
  • On the higher side minor resistance is around 4640 and any break above 4640 will take the index to next level 4700/ trend reversal only above 4860.
     
  • The index support is at 4500 and below that level will target 4460/4380.

It is good to sell on rallies 4565-75 with SL around 4640 for the TP of 4460/4380.

 

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