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FTSE 100, DAX 40, S&P 500: Week’s Outlook Ahead of US PCE Data

4.0
Overall Trust Index

Written by:

Ezekiel Chew

Last updated on:

June 27, 2024

FTSE 100 Maintains A Cautious Uptrend

Source: ProRealTime, IG via DailyFX

The FTSE 100 is currently trading in a range, holding above the 55-day simple moving average (SMA) at 8,213, yet staying below the recent peak of 8,314 seen on Tuesday.

A breakout above this level could target the early June high of 8,364. Conversely, a drop below last Friday’s low of 8,187 might trigger a downward movement towards the May low of 8,138.

DAX 40 Reclaims Key Technical Level

Source: ProRealTime, IG via DailyFX

The DAX 40 has ascended past the 50% Fibonacci retracement level of the April-to-May rally, situated at 18,170. The index is aiming for the 55-day SMA at 18,331, as well as trying to surpass Monday’s high at 18,357 and the early June low at 18,361.

Below this, minor support is identified near the 50% retracement, with additional support at Tuesday’s low of 18,071.

S&P 500 Targets Record Highs

Source: ProRealTime, IG via DailyFX

The S&P 500 has resumed its upward trajectory, challenging its recent peak at 5,491. Surpassing this could set the stage for a test of its all-time high at 5,517.

This optimistic outlook is contingent on the index staying above Monday’s low of 5,444. A breakdown below this support could revisit the mid-June low at 5,393.

About Ezekiel Chew​

Ezekiel Chew, founder and head of training at Asia Forex Mentor, is a renowned forex expert, frequently invited to speak at major industry events. Known for his deep market insights, Ezekiel is one of the top traders committed to supporting the trading community. Making six figures per trade, he also trains traders working in banks, fund management, and prop trading firms.

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FTSE 100, DAX 40, S&P 500: Week’s Outlook Ahead of US PCE Data

4.0
Overall Trust Index

Written by:

Updated:

June 27, 2024

FTSE 100 Maintains A Cautious Uptrend

Source: ProRealTime, IG via DailyFX
The FTSE 100 is currently trading in a range, holding above the 55-day simple moving average (SMA) at 8,213, yet staying below the recent peak of 8,314 seen on Tuesday.A breakout above this level could target the early June high of 8,364. Conversely, a drop below last Friday’s low of 8,187 might trigger a downward movement towards the May low of 8,138.

DAX 40 Reclaims Key Technical Level

Source: ProRealTime, IG via DailyFX
The DAX 40 has ascended past the 50% Fibonacci retracement level of the April-to-May rally, situated at 18,170. The index is aiming for the 55-day SMA at 18,331, as well as trying to surpass Monday’s high at 18,357 and the early June low at 18,361.Below this, minor support is identified near the 50% retracement, with additional support at Tuesday’s low of 18,071.

S&P 500 Targets Record Highs

Source: ProRealTime, IG via DailyFX
The S&P 500 has resumed its upward trajectory, challenging its recent peak at 5,491. Surpassing this could set the stage for a test of its all-time high at 5,517.This optimistic outlook is contingent on the index staying above Monday’s low of 5,444. A breakdown below this support could revisit the mid-June low at 5,393.
ezekiel chew asiaforexmentor

About Ezekiel Chew

Ezekiel Chew, founder and head of training at Asia Forex Mentor, is a renowned forex expert, frequently invited to speak at major industry events. Known for his deep market insights, Ezekiel is one of the top traders committed to supporting the trading community. Making six figures per trade, he also trains traders working in banks, fund management, and prop trading firms.

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