DE30 continues to move higher as major equity benchmarks from the Old Continent are finishing the last trading day of the week higher. The German index broke above the 15,668 pts which coincides with the 127.2% Fibonacci retracement of the downward move form late-May. Also, the index broke above the upper limit of the Overbalance structure where the previous all-time highs from June 1 may be found.
Major stock indices, those from the US in particular, launched an upward impulse following today’s NFP data release. Even though the report turned out to be a slight disappointment, indices spiked as investors might perceive NFP figures as “bad news is good news” in terms of future monetary conditions. As a result, US indices are rallying as well as of writing this text.
Start investing today or test a free demo
Open account Try demo Download mobile app Download mobile appDE30, H1 interval. Source: xStation5
This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.