DE30 did very well last week despite volatility on Wall Street and hawkish ECB decision. The index also started the week on a positive note but buyers were unable to sustain this positive momentum and a significant portion of early gains has now been erased. Why is this important? DE30 keeps trading within a triangle formation a this marks another failed attempt to break higher. The trendline has kept the bull market alive so far but a possible break lower could pave a way to a deeper correction.
Investors should brace themselves for a busy week. The key market even is the FOMC decision (Wednesday, 7pm BST) which we will cover in the “News” section.
Daily summary: Wall Street and EURUSD rise ahead of tomorrow’s Fed decision 🗽 Oil gains
US100 gains 0.8%📈
U.S. dollar sell-off 🚨 USDIDX slumps nearly 1%
US Open: US500 near record highs 📈 UnitedHealth shares crash 17%, Micron and RTX Corp gain