During today’s Asian market session, the GER 40, Germany’s premier benchmark index, was observed oscillating around the 18,400 mark. This comes amid a backdrop of cautious sentiment among European equities, influenced by recent communications from Federal Reserve officials, which tempered expectations for an imminent easing of interest rates.
Market participants are keenly anticipating a suite of economic indicators due out later today, including factory orders and construction PMI figures from Germany, alongside housing price data from the U.K. These reports follow a modest uplift in European stocks on Thursday, spurred by fresh data on Eurozone private sector growth, producer price inflation, and insights from the European Central Bank’s latest meeting minutes.
The broader European market saw slight gains, with the pan-European STOXX 600 index climbing by 0.2%. Specifically, the German DAX index experienced a similar increase, while the U.K.’s FTSE 100 index saw a more substantial rise of half a percent. Conversely, France’s CAC 40 index concluded the session with a negligible decline.
Technical analysis
Time Frame: 1 hour
GER40 Support & Resistance Table – 05/04/2024
| Support & Resistance | Level | Explanation |
| Resistance 2 | 18556.2 | Daily R2 |
| Resistance 1 | 18500.0 | Daily R1 |
| Support 1 | 18350.0 | Daily S1 |
| Support 2 | 18293.8 | Daily S2 |
GER40 Indicator Table – 05/04/2024
| Indicator | Signal |
| SMA 20 | Sell |
| SMA 50 | Sell |
| SMA 100 | Buy |
| MACD( 12;26;9) | Neutral |
| RSI (14) | Buy |
| Stochastic ( 9;6;3) | Sell |
GER40 Indicator / Period Table – 05/04/2024
| Indicator / Period | Day – Sell | Week – Buy | Month – Buy |
| MACD( 12;26;9) | Neutral | Buy | Buy |
| RSI (14) | Buy | Buy | Buy |
| SMA 20 | Sell | Buy | Buy |
GER40 05/04/2024 – Reference Price : 18439.0
| SELL | Simple Moving AverageBuy (1)Sell (2)Technical Indicators – OscillatorsBuy (1)Sell (1) |
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