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DAX higher after improved US & Eurozone Unemployment rate – DAX 30 Market Outlook – 03/07/2020

SquaredFinancial

Our long entry with 200 points resistance target at 12600 was hit, as the DAX ended yesterday’s session 2% higher on the back of stronger than expected US jobs data, slightly improved Eurozone Unemployment rate (7.4% vs. 7.7%), and German parliament backing of the ECB’s bond purchase program. Investors focus on PMI data out of the Eurozone today, with better than expected figures favoring further upside with 12730 as the closest resistance target.

Support: 12400/ 12200
Resistance: 12600 / 12730

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Source: https://www.squaredfinancial.com/learn/daily-market-outlook/dax-higher-after-improved-us-eurozone-unemployment-rate-dax-30-market-outlook-03-07-2020
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