(DAX) GER 40 finding bullish trend
The (DAX) GER 40 weakened as the recent tariff war imposed on the EU shook the index. A break below 24500 dented the market mood in the near term. However, with prices now moving into a bullish channel, bulls are hoping for a continuation that will see a lift above 24300 to help them regain confidence before a full swing occurs, as prices look to reclaim the 24600 level. On the flip side, 24000 is an important support to prevent a further sell-off.
EURUSD shaken by inflation data
The euro is hoping to turn the momentum around as prices hit another low. Since the firm resistance was found above the 1.1800 level, more buyers have prompted to close their positions. 1.1700 is a major hurdle for the euro to recapture this month’s losses, and then a close above 1.1760 at the previous swing high is vital to ease the selling pressure. Otherwise, a further correction might send the euro towards 1.1550.
XAGUSD takes a pause
Silver slips in the wake of a firm bullish rally as the recent pullback hampers efforts to reach a new high. The precious metal slightly licks its wounds by testing the support of 37.60, which is a key area where bears could be eager to fade a rebound after sentiment turned downbeat. On the other hand, 38.60 appears to be a crucial level for bulls to focus on if buyers can re-enter the market.
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