• Add

The DAX powered higher shrugging off another dire jobless claims


Fundamental Highlights

The DAX powered higher on Thursday as it shrugged off another dire set of US weekly jobless claims and a tumble in German industrial production as better than expected Chinese trade data provided support.
The US monthly jobs report will be the key driver in today’s session while the latest upward trend seen in coronavirus cases has yet to take effect and weigh on sentiment.

Technical Analysis

The DAX closed 153 points higher at 10759 on Thursday.
This morning, Dax futures broke above the 10770 resistance area and have yet to overcome the 10900 resistance to climb towards the higher levels at 11050 and 11160.
With a higher low in place at 10550, a break below this level impairs the minor uptrend and leads the DAX towards the low at 10380.

Support: 10770/10550
Resistance: 10900/11040

SquaredFinancial Daily Market Outlook


SquaredFinancial Review

Source: https://www.squaredfinancial.com/learn/daily-market-outlook/the-dax-powered-higher-shrugging-off-another-dire-jobless-claims-dax-30-market-outlook-08-05-2020
!"#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz{|} !"#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz{|}