Market Overview

24 November 2014 18:05

Konstantin Meinhardt

I remember as I conducted the seminar about the euro in May 2013 and I said that the euro would decline although the euro was climbing. Some seminar participants disagreed with me. One and half year later, I have never expected that the euro will decrease in such pace. EURSUD monthly, May 2013 The euro has broken through the sufficient levels at 1.3000 and at 1.2744. It has last only one month. In the meantime, Eurozone’s single currency fell to 1.2358.
24 November 2014 16:00

Christoph Brixa

Since its low on October 16th the DAX is in rally mode again. The intraday low at 8,350 points was the start for a new climb towards its all-time high. Still a little more than 200 points to go - a little less than 3%. But there is resistance ahead. Although driven by the ECB's stimulus there is a probability of a rebound from the resistance around 9825 points before the DAX will have enough momentum to further climb. But a pullback to the next strong support around 9,380 - 9,490 does not seem very likely - a pullback to 9,700 should be sufficient and not worry the bulls too much.

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