In a week full of major data points, Michael Hewson looks at whether the ECB can buoy European stock markets and how dollar strength is impacting currency pairs.
- The potential downside for the DAX remains if the ECB doesn’t produce something to push the index through 9,600
- Gold broke below key trendline support and remains in a downward channel that could target $1,185
- USD/JPY is targeting ¥105.50 which is major long-term resistance. Any close above it could instigate further gains
- Sterling is still sliding, with GBP/USD below trendline resistance and looking towards the year’s lows
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Video content by Michael Hewson of CMC Markets.
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