​​​DAX 40, S&P 500 Trade Close to Record Highs while FTSE 100 nears 8,000 Mark

​​Outlook on FTSE 100, DAX 40 and S&P 500 amid FOMC and MPC member speeches.

​Minor support can be spotted at the early May high at 7,897. Far below it lies more significant support between the December-to-mid-March highs at 7,786 to 7,747.​The DAX 40 is short-term consolidating below last week’s new 18,258 record high, a rise above which would engage the minor psychological 18,500 mark.

​Support can be seen at Wednesday’s 18,185 high and Friday’s 18,133 low ahead of the more important February-to-March accelerated uptrend line at 18,052. ​The S&P 500 is consolidating below last week’s record high, made at 5,261, a rise above which would put the 5,300 mark on the cards. A speech bymember Bostic at 12:25 pm might provide the impetus for such a move higher or stall the advance. ​Minor support below the 5,200 mark can be spotted at the 5,165 early March high.Leveraged trading in foreign currency or off-exchange products on margin carries significant risk and may not be suitable for all investors.

We recommend that you seek independent advice and ensure you fully understand the risks involved before trading. Information presented by DailyFX Limited should be construed as market commentary, merely observing economical, political and market conditions. This information is made available for informational purposes only. It is not a solicitation or a recommendation to trade derivatives contracts or securities and should not be construed or interpreted as financial advice.

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