SPX and DAX Key Trading Levels – Risk-On Sentiment Plays - Forex News by FX Leaders
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SPX and DAX Key Trading Levels – Risk-On Sentiment Plays

Posted Tuesday, June 12, 2018 by
Arslan Butt • 1 min read

The U.S. stock indices SPX, DJIA, and Nasdaq jumped slightly ahead of the U.S. CPI figures and the U.S.- North Korea meeting. The global stock market eased after positive response coming out from Singapore.

Earlier, the market traded a risk-off sentiment after the U.S. and its second-largest trade partner moved closer to an obvious trade war on Sunday. The stock markets came under pressure after Trump and top White House advisors lashed out at Canadian Prime Minister Justin Trudeau. The rigid exchange supported Trump’s choice to promptly withdraw support for a G7 communique and literally attack Trudeau as being “very dishonest and weak.”

As discussed previously in FX Leaders June 12 – Economic Event Report, investors are eyeing more updates from the U.S. – North Korea meeting. Besides this, the inflation report will do a lot to determine the sentiment of the market today.

Anyway, we just shared a buying forex trading signal on both of the indices DAX and SPX. Here are the key trading levels to watch this week.

S&P500- SPX- Trading Levels

Support     Resistance

2750.72     2781.58

2741.19      2791.11

2725.76     2806.54

Key Trading Level: 2766.15

German30 – DAX – Trading Levels

Support    Resistance

12647.33    12887.65

12573.09    12961.89

12452.93    13082.05

Key Trading Level: 12767.49

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About the author

Arslan Butt // Index & Commodity Analyst
Arslan Butt is our Lead Commodities and Indices Analyst. Arslan is a professional market analyst and day trader. He holds an MBA in Behavioral Finance and is working towards his Ph.D. Before joining FX Leaders Arslan served as a senior analyst in a major brokerage firm. Arslan is also an experienced instructor and public speaker.
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