The German DAX has seen a significant rally since mid September as we broke many resistance levels in the market.
Last week’s Nonfarm Payrolls print – and the subsequent market reaction – made me think about US equities and how their behaviour has changed over the years following the 2008 global financial crisis. Let’s first take a step back and remember how things used to work prior to 2008, regarding the relationship between economic data […]
Alongside the bear flag competing when the pair traded below the 123.00 level a pin bar was posted which could signal a near term bounce in the pair.
The EURUSD has developed a triangle consolidation despite the AB=CD pattern pointing lower. Obviously, the risk moving forward is the China/US trade deal in the coming days.
The DAX had a strong reversal ahead of the 78% retracement when it was trading at channel resistance as the daily RSI registered extremely overbought the last few sessions.
The SPX500 closed the week above the downtrend line and the 61.8% Fibonacci retracement level which was a bullish sign headed into the weekend.