Two trades to watch FTSE Dax

FTSE steady as investors digest BP & HSBC results

FTSE futures are trading cautiously ahead of the open, the broad mood in the market is wobbling ahead of tomorrow’s Fed decision.

BP share price and HSBC share price movement will be in focus after both heavyweights beat forecasts.

Earnings are also out from Whitbread, Aveva, and PZ Cussons

A slightly weaker pound owing to the strengthening US Dollar underpins the UK index.

Where next for the FTSE?

After falling steeply last week, the FTSE is clawing higher as it looks towards 7050.

Trading above its 50 & 100 EMA and within the multi-month ascending channel the established bull trend remains intact. The RSI is also supportive of further upside.

Bulls will look towards resistance at 7050, the post pandemic high. Strong resistance can be seen at 7120.

On the down side, support can be seen at 6850, last week’s low, ahead of 6800, the 50 EMA and a level which provided resistance across February. A break below here could negate the current up-trend.

Learn more about trading indices

Dax trades cautiously ahead of Fed

After record highs were achieved on Wall Street the European open is looking lacklustre.

Cautious trade dominates ahead of a busy week for earnings both in Europe and the US.

Earnings so far have been strong and are likely to help the Dax keep its bullish bias.

Risk remain regarding covid

Where next for the Dax?

The Dax edged higher on Monday and is see extending that recovery , although it still trades below its all time high hit earlier in the month.

The continues to trade above its 50 & 100 EMA and above the upper band of its ascending channel. In an established bull trend.

The RSI has moved out of overbought territory and is supportive of more upside.

Support at 15100 is holding which offering a base from which to extend towards resistance at 16365 and on to 15500 the all time high.

On the downside support is seen at 15100, but a move below 15000 April’s low is needed in order to negate the current uptrend.

The information on this web site is not targeted at the general public of any particular country. It is not intended for distribution to residents in any country where such distribution or use would contravene any local law or regulatory requirement. The information and opinions in this report are for general information use only and are not intended as an offer or solicitation with respect to the purchase or sale of any currency or CFD contract. All opinions and information contained in this report are subject to change without notice. This report has been prepared without regard to the specific investment objectives, financial situation and needs of any particular recipient. Any references to historical price movements or levels is informational based on our analysis and we do not represent or warranty that any such movements or levels are likely to reoccur in the future. While the information contained herein was obtained from sources believed to be reliable, author does not guarantee its accuracy or completeness, nor does author assume any liability for any direct, indirect or consequential loss that may result from the reliance by any person upon any such information or opinions.

Futures, Options on Futures, Foreign Exchange and other leveraged products involves significant risk of loss and is not suitable for all investors. Losses can exceed your deposits. Increasing leverage increases risk. Spot Gold and Silver contracts are not subject to regulation under the U.S. Commodity Exchange Act. Contracts for Difference (CFDs) are not available for US residents. Before deciding to trade forex, commodity futures, or digital assets, you should carefully consider your financial objectives, level of experience and risk appetite. Any opinions, news, research, analyses, prices or other information contained herein is intended as general information about the subject matter covered and is provided with the understanding that we do not provide any investment, legal, or tax advice. You should consult with appropriate counsel or other advisors on all investment, legal, or tax matters. References to FOREX.com or GAIN Capital refer to StoneX Group Inc. and its subsidiaries. Please read Characteristics and Risks of Standardized Options.

Please note that foreign exchange and other leveraged trading involves significant risk of loss. It is not suitable for all investors and you should make sure you understand the risks involved, seeking independent advice if necessary.

The products and services available to you at FOREX.com will depend on your location and on which of its regulated entities holds your account.

FOREX.com is a trading name of GAIN Global Markets Inc. which is authorized and regulated by the Cayman Islands Monetary Authority under the Securities Investment Business Law of the Cayman Islands (as revised) with License number 25033.

FOREX.com may, from time to time, offer payment processing services with respect to card deposits through StoneX Financial Ltd, Moor House First Floor, 120 London Wall, London, EC2Y 5ET.

GAIN Global Markets Inc. has its principal place of business at 30 Independence Blvd, Suite 300 (3rd floor), Warren, NJ 07059, USA., and is a wholly-owned subsidiary of StoneX Group Inc.