During Wednesday’s session bulls were in power for the first few hours. Then US mortgage data was better than expected and moods worsened. As a result DAX ended session a little higher than in the beginning of session.
On Thursday there will be the most important decision about interest rates. Market predictions are huge, investors expect not only deposit rate cut but also expanding QE and LTRO. It looks like ECB will have tough decision to meet the expectations and we have no idea what market reaction will be.
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Technically nothing changed, resistance at 9,910 pts is still key level to break. On its way there are also small resistances: 9,770 pts, 9,850 pts. The closest supports: 9,680 pts, 9,600 pts, 9,450 pts.
