Germany's DAX Threatening Big Break Below Trend SupportGermany's DAX index has had a solid 2024 so far, but the shine may be coming off the bullish technicals as we head into the second half of the year.
After hitting a record high near 19K in May, the index has seen its gains stall out. Prices retreated to bullish trend line support in mid-June, and with bulls failing to drive a convincing bounce off that level, the DAX is now at risk of a bearish breakdown below that level of dynamic support. A breakdown could target the March/April closing lows in the 17.7K zone next.
Indices
GER30 H4 | Potential bullish reversalGER30 is falling towards a pullback support and could potentially bounce off this level to climb higher.
Buy entry is at 18,050.68 which is a pullback support.
Stop loss is at 17,900.00 which is a level that lies underneath a multi-swing-low support and the 127.2% Fibonacci extension level.
Take profit is at 18,370.11 which is a pullback resistance that aligns with the 61.8% Fibonacci retracement level.
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NAS100 H4 | Falling to pullback supportNAS100 is falling towards a pullback support and could potentially bounce off this level to climb higher.
Buy entry is at 19,521.53 which is a pullback support.
Stop loss is at 19,333.00 which is a level that lies underneath the 38.2% Fibonacci retracement level.
Take profit is at 19,900.09 which is a pullback resistance level.
High Risk Investment Warning
Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you.
Stratos Markets Limited (www.fxcm.com):
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Stratos Europe Ltd, previously FXCM EU Ltd (www.fxcm.com):
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Stratos Trading Pty. Limited (www.fxcm.com):
Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763), please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com
Stratos Global LLC (www.fxcm.com):
Losses can exceed deposits.
Please be advised that the information presented on TradingView is provided to FXCM (‘Company’, ‘we’) by a third-party provider (‘TFA Global Pte Ltd’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by TFA Global Pte Ltd.
The speaker(s) is neither an employee, agent nor representative of FXCM and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of FXCM or any form of personal or investment advice. FXCM neither endorses nor guarantees offerings of third-party speakers, nor is FXCM responsible for the content, veracity or opinions of third-party speakers, presenters or participants.
SPX500 H4 | Falling to pullback supportSPX500 is falling towards a pullback support and could potentially bounce off this level to climb higher.
Buy entry is at 5,460.30 which is a pullback support that aligns with the 23.6% Fibonacci retracement level.
Stop loss is at 5,382.001 which is a level that lies underneath a pullback support and the 38.2% Fibonacci retracement level.
Take profit is at 5,532.83 which is a level that aligns with the all-time high.
High Risk Investment Warning
Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you.
Stratos Markets Limited (www.fxcm.com):
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Stratos Europe Ltd, previously FXCM EU Ltd (www.fxcm.com):
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Stratos Trading Pty. Limited (www.fxcm.com):
Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763), please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com
Stratos Global LLC (www.fxcm.com):
Losses can exceed deposits.
Please be advised that the information presented on TradingView is provided to FXCM (‘Company’, ‘we’) by a third-party provider (‘TFA Global Pte Ltd’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by TFA Global Pte Ltd.
The speaker(s) is neither an employee, agent nor representative of FXCM and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of FXCM or any form of personal or investment advice. FXCM neither endorses nor guarantees offerings of third-party speakers, nor is FXCM responsible for the content, veracity or opinions of third-party speakers, presenters or participants.
Potential bullish rise?Dow Jones (US30) has just bounces off the pivot which has been identified as an overlap support and could rise to the 1st resistance.
Pivot: 39,006.6
1st Support: 38,641.5
1st Resistance: 39,556.5
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
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The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
S&P 500 Daily Chart Analysis For Week of June 28, 2024Technical Analysis and Outlook:
The Spooz has exhibited marked downward price action during this week's trading session, swiftly descending on the last trading day of the week from our designated Key Resistance level of 5488. It displays distinctive interim bearish price action characteristics, targeting Mean Support levels at 5449 and 5420. Anticipated renewed upward movement is expected from one of these specified price targets.
French stocks subdued ahead of electionsAhead of French elections on Sunday, European markets, led by France, underperform a tech-driven Wall Street. Here, the S&P 500 (+0.65%) has just hit a fresh record high, and was on course to end up for the fourth consecutive week. Month- and quarter-end flows in high-flying tech keeps US equities supported as we head to the second half of the year.
Meanwhile, French stocks remained under pressure ahead of the weekend, with the benchmark CAC testing its lowest levels since January at the time of writing. Investors are not taking any chances heading into the Sunday's snap elections.
But at current levels of around 7460, the index is at a major support. Let's see if dop-buyers re-emerge next week and drive the market higher. However, if the outcome of the elections reveal even more support for the far right wing RN party, then we could see a wobble at the open next week.
By Fawad Razaqzada, market analyst at FOREX.com
Bullish bounce off 50% Fibonacci support?Dow Jones (US30) is falling towards the pivot which has been identified as an overlap support and could bounce to the 1st resistance.
Pivot: 39,006.68
1st Support: 38,641.57
1st Resistance: 39,556.53
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
#US30 Best selling opportunityPrice seems to be completing the fifth wave of an ABC bullish corrective move, after which it is likely to move lower to complete its third wave in a higher degree.
The conjunction of the two bullish channels is an optimal price level to sell.
For those who are more risk-averse, they could wait for a bearish breakout of the short-term bullish channel.
If you’ve found this analysis helpful, please take a moment to like, comment, or share your thoughts with me.
Nas100 Bullish Trade Idea Technical Analysis: NAS100
The market appears to be in a bullish reversal setup after finding support and potentially moving towards our supply zone.
If the price breaks above the equilibrium zone: It is likely to head towards the resistance levels marked by the Fib retracement levels.
If the price fails to break the equilibrium zone: It may retest to the 50% line on the fib at 19,655.8 before resuming the upward trend.
DOWJONESDow Jones analysis
2 hour and daily time frame
Dow Jones is near the 2-hour supply zone. After entering the zone, seeing the confirmation in the 15-minute time frame, we can enter sell positions with a stop just above the zone. If this area is lost, we will wait until it enters the daily supply area. If the ceiling of the daily supply area is touched, downward reversals give us the position of buying trades. to enter the daily latitude zone.
If the 2-hour supply area is maintained, the first target of the midline trading range and the second target can be the 2-hour demand area, which is formed above the daily demand area.
Bearish drop?DAX40 is rising towards a resistance level which is a pullback resistance and could reverse from this level to our take profit.
Entry: 18,275.79
Why we like it:
There is a pullback resistance level.
Stop loss: 18,386.59
Why we like it:
There is a pullback resistance level which aligns with the 61.8% Fibonacci retracement.
Take profit: 17,931.01
Why we like it:
There is a pullback support level.
Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
US30 LongWe are in a clear uptrend. The weekly chart clearly shows that we had no clear direction for two weeks and now we have a strong bullish weekly candle. What's very important is that we closed above the resistance that has been tested multiple times in the past. So for me, it's a clear signal that we will continue to rise.
Dow Jones is approaching an important support levelHey Traders, in today's trading session we are monitoring US30 for a buying opportunity around 38,600 zone, Dow Jones is trading in an uptrend and currently is in a correction phase in which it is approaching the trend at 38,600 support and resistance area.
Trade safe, Joe.
S&P 500 Index Technical Analysis and Intraday ForecastS&P 500 Index Technical Analysis
The price has declined from its resistance level of 5529 and is currently trading in a bearish zone. As long as it remains below the pivot line, the bearish trend is expected to continue towards 5410.
Intraday Analysis:
Today, the price is likely to stabilize below 5479, maintaining the bearish trend towards 5440 and 5410.
Bullish Scenario:
For a bullish reversal, the price must stabilize above 5502. If this occurs, the bullish trend may target 5529 and subsequently 5550.
Bearish Scenario:
As long as the price trades below the pivot zone, which lies between 5502 and 5479, it is expected to decline further towards 5440 and 5410.
Key Levels:
- Pivot Line: 5479
- Resistance Levels: 5502, 5529, 5550
- Support Levels: 5440, 5410, 5373
Today's Expected Trading Range:
The anticipated trading range for today is between the resistance at 5502 and the support at 5410.
S&P500 is approaching a significant support areaHey Traders, in today's trading session we are monitoring US500 for a buying opportunity around 5,400 zone, US500 is trading in an uptrend and currently is in a correction phase in which it is approaching the trend at 5,400 support and resistance area.
Trade safe, Joe.
US30 Bullish Trend with Key Support at 38,790Technical Analysis: US30
The price trend for US30 is currently bullish, targeting 39,050 as long as it remains above 38,790. There is also the possibility of a price correction down to 38,790.
Bullish Scenario:
As long as the price trades above 38,790, it will likely push up to 39,050.
Bearish Scenario:
If the price breaks below the support level at 38,790, it could decline to 38,580. Sustained trading below this level may result in a further drop to 38,400.
Key Levels:
- Pivot Line: 38,790
- Resistance Levels: 39050, 39350, 39700
- Support Levels: 38580, 38400, 38290
Today's Expected Range:
The price is expected to move between the support level at 38,790 and the resistance level at 39,050.
In summary, maintaining a position above 38,790 supports a bullish outlook with higher resistance targets, while trading below this level indicates potential bearish movement towards lower support zones.