We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

Free Trading Guides
EUR/USD
Mixed
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
GBP/USD
Bearish
USD/JPY
Bullish
Gold
Bullish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Oil - US Crude
Bullish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Bitcoin
Mixed
More View more
Real Time News
  • $USDCAD is testing slope support into the close of the week with the immediate short bias at risk while above 1.3134/51. Get your USD/CAD technical analysis from @MBForex here:https://t.co/eE9yrNEU80 https://t.co/mszY7ouYRF
  • $EURUSD Daily Pivot Points: S3: 1.0966 S2: 1.1041 S1: 1.1085 R1: 1.116 R2: 1.119 R3: 1.1264 https://www.dailyfx.com/pivot-points?ref=SubNav?utm_source=Twitter&utm_medium=DFXGeneric&utm_campaign=twr
  • The British Pound’s relief rally may still have some room to run: volatility in the $GBP has dropped back to levels typically associated with periods of ‘positive developments’ in the #Brexit process. Get your market update from @CVecchioFX here:https://t.co/uzXRd8y4ck https://t.co/Nxf6opYgLd
  • Forex Update: As of 21:00, these are your best and worst performers based on the London trading schedule: 🇬🇧GBP: 1.31% 🇨🇦CAD: 0.12% 🇨🇭CHF: 0.09% 🇪🇺EUR: -0.09% 🇳🇿NZD: -0.11% 🇦🇺AUD: -0.48% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/z0x9cPG1TN
  • Commodities Update: As of 21:00, these are your best and worst performers based on the London trading schedule: Gold: 0.40% Silver: 0.09% Oil - US Crude: -0.47% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/fpuNos9jTO
  • RT @bbands: Most crypto currencies are at or near Bollinger Band Squeeze levels. Time to pay attention.
  • Spot FX Update: $EUR 1.1119 $JPY 109.3505 $GBP 1.3337 $CAD 1.3182 $CHF 0.9842
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 98.07%, while traders in France 40 are at opposite extremes with 78.85%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/rBitc06izt
  • Stocks in the #Dow Jones and S&P 500 are soaring alongside the Chinese Yuan as Beijing confirms trade negotiators have reached a partial deal in text with Washington. Get your market update from @RichDvorakFX here: https://t.co/v8Dy0Es2MY https://t.co/1f6xgxkXK0
  • Poll: Looking ahead to these final weeks of 2019, has the announced US-China phase 1 'deal' and UK election laying a clearer path for Brexit set global markets back on a course for sustained risk appetite (continued S&P 500 climb)?
DAX, FTSE 100 and IBEX Technical Analysis Forecast

DAX, FTSE 100 and IBEX Technical Analysis Forecast

2019-11-14 10:30:00
Justin McQueen, Analyst
Share:

Eurozone Index Price Analysis & News

  • DAX | Upside Appears Exhausted
  • IBEX | Political Uncertainty Weighs on IBEX
  • FTSE 100 | Outlook Weakens Following Break of Rising Channel
DAX, FTSE 100 and IBEX Technical Analysis Forecast

DAX | Upside Appears Exhausted

The recent upside in the DAX appears to be stalling with the RSI easing back from overbought territory. As such, with global equities pulling back from recent highs, the DAX is likely to follow suit with the index risking a test of the 13000 level on a closing break below the weekly low of 13142.

DAX Price Chart: Daily Time Frame (Oct 2017Nov 2019)

DAX, FTSE 100 and IBEX Technical Analysis Forecast

IBEX | Political Uncertainty Weighs on IBEX

The IBEX has been among the worst performers throughout the week, dropping 2.15% amid the continued political uncertainty after the fourth election in as many years resulted in a more fragmented parliament. Alongside this, amid the surprise pact between the PSOE and Podemos party to form a minority coalition, Spanish banks and in particular Bankia (60% owned by the state) are likely to be in focus, given that the Podemos are typically in favour of raising taxes for financial transactions, while also against the privatization of Bankia. The index is on course to make a test of the 9000-level following a break below the rising trendline which had stemmed from the August low. Near-term support however, is situated at 9087, which marks the 38.2% Fibonacci retracement.

IBEX Price Chart: Daily Time Frame (Sep 18 – Nov 19)

DAX, FTSE 100 and IBEX Technical Analysis Forecast

FTSE 100 | Outlook Weakens Following Break of Rising Channel

The outlook for the FTSE 100 has weakened having broken out of its rising channel. As we highlighted in the weekly outlook, failure of channel support to hold would leave the index vulnerable for a test of the 38.2% Fibonacci retracement at 7261. Following a brief uptick, the index looks set to make a retest of 7261 with a closing break below raising the risk of a move towards 7200.

50DMA (7280), 100DMA (7285), 200DMA (7334)

FTSE 100 Price Chart: Daily Timeframe (Nov 18 – Nov 19)

DAX, FTSE 100 and IBEX Technical Analysis Forecast

Source: IG Charts

--- Written by Justin McQueen, Market Analyst

To contact Justin, email him at Justin.mcqueen@ig.com

Follow Justin on Twitter @JMcQueenFX

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES

News & Analysis at your fingertips.