Outlook on CAC 40, DAX 40 and Dow post stellar Nvidia Q4 earnings.
The DAX 40 index’s swift rally to a new record high close to the 17,500 mark is taking a breather as investors mull over German IFO business confidence data.
A minor retracement on profit-taking ahead of the weekend may well be seen on Friday. Above the 17,500 mark lies the 18,000 region.shows 10.57% of traders are net-long with the ratio of traders short to long at 8.46 to 1. The number of traders net-long is 11.26% lower than yesterday and 15.79% lower than last week, while the number of traders net-short is 3.57% higher than yesterday and 5.18% higher than last week.
In case of a retracement being seen, the 12 February high at 38,933 may act as support. While no fall through the second-to-last daily reaction low at the mid-February at 38,037 is seen, the medium-term uptrend remains intact.Leveraged trading in foreign currency or off-exchange products on margin carries significant risk and may not be suitable for all investors. We advise you to carefully consider whether trading is appropriate for you based on your personal circumstances.
We recommend that you seek independent advice and ensure you fully understand the risks involved before trading. Information presented by DailyFX Limited should be construed as market commentary, merely observing economical, political and market conditions. This information is made available for informational purposes only. It is not a solicitation or a recommendation to trade derivatives contracts or securities and should not be construed or interpreted as financial advice.
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