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

Ger 40 Index Analysis Technical analysis 05/04/2024

Time Frame: 1 hour

GER40 Support & Resistance Table – 05/04/2024

Support & ResistanceLevelExplanation
Resistance 218556.2Daily R2
Resistance 118500.0Daily R1
Support 118350.0Daily S1
Support 218293.8Daily S2

GER40 Indicator Table – 05/04/2024

IndicatorSignal
SMA 20Sell
SMA 50Sell
SMA 100Buy
MACD( 12;26;9)Neutral
RSI (14)Buy
Stochastic ( 9;6;3)Sell

GER40 Indicator / Period Table – 05/04/2024

Indicator / PeriodDay – SellWeek – BuyMonth – Buy
MACD( 12;26;9)NeutralBuyBuy
RSI (14)BuyBuyBuy
SMA 20SellBuyBuy

GER40 05/04/2024 – Reference Price : 18439.0

SELLSimple Moving AverageBuy (1)Sell (2)Technical Indicators – OscillatorsBuy (1)Sell (1)

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