During the Asian trading hours, the GER 40 Index was observed trading above the 18,800 mark. As we approach the end of the week, European markets are showing signs of opening stronger, fueled by the dual tailwinds of anticipated rate cuts in the U.S. and positive developments regarding China’s economic stabilization, which are elevating investor sentiment.
This optimism follows a robust performance in European equities, marking a continuous rise for five sessions. The momentum was particularly influenced by the Bank of England’s latest policy decision to hold interest rates steady while hinting at possible reductions later in the year should inflation pressures ease.
In terms of performance metrics from Thursday’s session, the pan-European STOXX 600 index modestly rose by 0.2%. Germany’s DAX index led with a gain of 1%, while France’s CAC 40 advanced by 0.7%, and the UK’s FTSE 100 saw a modest increase of 0.3%. Investors leveraging advanced AI technology have reported significant gains, with some utilizing the tool to navigate the market successfully on autopilot, achieving over 34% ROI in just 24 hours. Discover more about this innovative trading approach.
Technical analysis
Time Frame: 1 hour
GER40 Support & Resistance Table – 10/05/2024
| Support & Resistance | Level | Explanation |
| Resistance 2 | 19009.9 | Daily R2 |
| Resistance 1 | 18948.6 | Daily R1 |
| Support 1 | 18785.4 | Daily S1 |
| Support 2 | 18724.1 | Daily S2 |
GER40 Indicator Table – 10/05/2024
| Indicator | Signal |
| SMA 20 | Buy |
| SMA 50 | Buy |
| SMA 100 | Buy |
| MACD( 12;26;9) | Buy |
| RSI (14) | Buy |
| Stochastic ( 9;6;3) | Buy |
GER40 Indicator / Period Table – 10/05/2024
| Indicator / Period | Day – Buy | Week – Buy | Month – Buy |
| MACD( 12;26;9) | Buy | Buy | Buy |
| RSI (14) | Buy | Buy | Buy |
| SMA 20 | Buy | Buy | Buy |
GER40 10/05/2024 – Reference Price : 18850.0
| BUY | Simple Moving AverageBuy (3)Sell (0)Technical Indicators – OscillatorsBuy (3)Sell (0) |
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