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European bourses are higher again this morning, following Friday’s positive US and European closes, which saw the US register another all-time high. This was helped by US Q3 GDP beating expectations and solid US earnings reports, particularly from Visa which contributed heavily. Positive sentiment looks to be back in a big week for macro data that includes Interest Rate decisions from both the BoE and ECB, with the biggest being saved till last in the form of Non-Farm Payrolls on Friday.
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The UK’s UK 100 maintains its recovery uptrend, while resistance has once again been met at 6560. A break above this level could see the UK 100 push into the 6600’s for the first time in over a month. Trading above all of its major moving averages, support may hold at the 50, 100 and 200 day moving averages.
Solid Green line
Possible support
Solid Red line
Possible resistance
Important: The information provided above does not constitute advice or opinion and must only be regarded as technical observations.
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Germany’s DAX continues its 2 week uptrend from 14-month lows, although potential resistance is very close, at 9352. A break of this resistance could yield a run back up to 9500. The DAX is trading above all of its major moving averages, with support possible at the 50, 100 and 200 day moving averages.
Solid Green line
Possible support
Solid Red line
Possible resistance
Important: The information provided above does not constitute advice or opinion and must only be regarded as technical observations.
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US Dow Jones set a new all-time high on Friday after estimate beating macro data was followed by strong corporate earnings. The Dow is trading above all of its major moving averages, whilst the RSI is falling from overbought territory.
Solid Green line
Possible support
Solid Red line
Possible resistance
Important: The information provided above does not constitute advice or opinion and must only be regarded as technical observations.
Click here for help with Support & Resistance Click here for help with technicals
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