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DAX 30, FTSE 100 Technical Outlook For Next Week

DAX 30, FTSE 100 Technical Outlook For Next Week

Justin McQueen, Strategist

DAX, FTSE 100 Analysis and News

  • DAX | Support Keeps Uptrend Intact
  • FTSE 100 | Pivotal Resistance In Focus

DAX | Support Keeps Uptrend Intact

The DAX has maintained a foothold above the 200DMA (12090), which in turn keeps the uptrend intact. On the topside, near-term resistance resides at 12447 (76.4% Fibonacci retracement), whereby a break above opens to door to a run-up towards 12950-13000. While the 200DMA provides support for the DAX, failure to hold leaves the index vulnerable to a pullback towards 11600.

DAX 30 Price Chart: Daily Time Frame

DAX price chart

Source: IG Charts

FTSE 100 | Pivotal Resistance In Focus

The FTSE 100 remains in consolidation mode with the index anchored around the 50% Fibonacci retracement of the Q1 sell-off. However, while the index holds 6000, risks are tilted to the upside with a focus on the pivotal 6500 level. A break above could see the index extend further towards the 200DMA. On the downside, key support is situated at 5890, which marks the 38.2% Fibonacci retracement.

FTSE 100 Price Chart: Daily Time Frame

FTSE100 Price chart

Source: IG Charts

How to Trade FTSE 100

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--- Written by Justin McQueen, Market Analyst

Follow Justin on Twitter @JMcQueenFX

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

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