Another day of sell out on German index and it is decreasing faster than S&P500 again. US index made up most of the losses in the end of session and ended on 2,075 pts. DAX bulls couldn’t even be helped by EURUSD decreasing. DAX depreciated -1.43% ending day at 9,519 pts and EURUSD -0.74% testing 1.1200.
On Wednesday we wait for the most important macro event of the week – FOMC interest rates decision. After last job reports and because of Brexit uncertainty analytics are certain that rates will stay at the same level. What is interesting in last few days possibility of Brexit is number one threat and last DAX sell out could be its fault.
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On DAX future 9,600 pts support was broken and so far there is rebound at weaker 9,500 pts support. It seems like test of 9,440 pts is just a matter of time and then there is high probability of attack on 9,300 pts.