DAX 40 breaks major support level of 17,716

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This topic has 2 replies, 1 voice, and was last updated 1 month ago by Christian Harris.

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August 6, 2024 at 12:45 #187301 Reply
Christian Harris
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- The DAX 40 has broken a major support level of 17,716
- The next major support (buy) level is 17,064
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- August 7, 2024 at 06:24 #187333 Reply
  John J
  There are some notable earnings reports this Wednesday like Siemens and Commerzbank which could influence the DAX.
  
  I’d also be thinking about the Fed and the degree to which it moves towards serious interest rate cuts. If they go too far we could see narrowing interest rate differentials between the US and Japan and possibly another Yen storm.
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  - August 8, 2024 at 12:57 #187501 Reply
    Christian Harris
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    I’ve read that the Feds and the BOJ have been discussing avoiding another ‘Yen storm’ when the US [potentially] starts cutting interest rates in September.
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