Thursday was a day which was focused only on one thing – ECB meeting and later press conference. Draghi was very dovish, QE will stay on current level and there is no disscusion about expanding or limiting this program.

Words of ECB’s President made EURUSD weaker, but European stocks reacted with great gains. German indexes clearly on plus: DAX +2,68%, MDAX +2,12%, SDAX +1,95%, TECDAX +2,48%. All stocks in DAX30 index were green, and the biggest gain had Continental (+4,01%). After closing European markets investors enthusiasm disappeared and S&P500 eventually ended with small gain (+0,12%).

DAX FUTURE reached maximum at 10,379 pts and after this today morning it hit bottom at 10,136 pts. On contracts chart we can determine wider upward channel, which lower bound is on 10,100 pts level. DAX30 negated retreat island formation, but yesterday’s drop in contracts suggests that this way will go cash market and there is double top pattern creating on the chart.

2015-09-04_podsumowanie_sesji_CZ_DAX_D1-1024x514
DAX D1
2015-09-04_podsumowanie_sesji_CZ_FDAX_H1-1024x518
DAX H4

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