The result of the first round of voting in the French Presidential election has had a big impact on markets with the risk positive Emmanuel Macron emerging as the clear front runner. This continues a period where politics are extremely important in trading and financial markets. We look at the impact that Macron’s performance has…

DAX futures (JUNE 2017 contract is FDXM7, continuation contract is FDXc1) A huge gap higher has completely changed the outlook once more for the DAX. However with volatility so elevated this is a market that will be difficult to call on a near term basis. Technicals have been blown out of the water this morning…

Market Overview Financial markets gave a huge sigh of relief after Emmanuel Macron emerged as the clear front runner in the first round of voting for the French Presidential Election. With Macron securing 23.7% (versus Marine Le Pen’s 21.7%), traders have a risk positive outcome and market sentiment is subsequently strong. Although Le Pen has…

DAX futures (JUNE 2017 contract is FDXM7, continuation contract is FDXc1) A choppy session closed higher yesterday but does little to change the outlook which remains corrective. A near three week downtrend remains intact and the market is still stuck with the resistance band 12,070/12,130. The outlook is likely to be driven to an extent…

Market Overview Trading sentiment is increasingly cautious in front of Sunday’s first round of voting for the French Presidential election that is too close to call. Key forex and equity markets are consolidating, with the euro steady, DAX and CAC trading only marginally lower and gold also very much in wait and see mode. An…

DAX futures (JUNE 2017 contract is FDXM7, continuation contract is FDXc1) The corrective outlook continues to drag the DAX lower but there is an interesting degree of buying pressure that is preventing a significant sell-off. The daily chart shows that the last two completed candles closed well off the lows and early today there is…

Market Overview Traders are looking to consolidate some of the strong moves on forex markets in the wake of the decision for a snap UK General Election, and the US dollar still seems to be under pressure despite a bit of a retracement move yesterday. The sterling rally is holding firm, despite come as Treasury…

DAX futures (JUNE 2017 contract is FDXM7, continuation contract is FDXc1) For the first time in three weeks the DAX futures have closed below the support at 12,130. This now puts the downside pressure on as another uptrend (dating back to early Feb) has been breached. Looking at daily momentum indicators, the increasingly corrective outlook…