Скачать или смотреть FRA40 Pushing at a New Leg Higher? | Trade Zone CFD Update with Joe Jeffriess

Could we see a new leg higher on the #FRA40? After Monday's holiday, price has opened lower on Tuesday, but there are a few bullish signs we are watching that could suggest a new push higher. Price formed an HL in the 38.2 fib area, support has been formed, and we see the support hold from a previous point of resistance. Price broke through the trendline, but we still need to see a new rally to confirm that.

A new lower that closes below support is worry and could invalidate the idea. Another factor is tomorrow's #USCPI data. Depending on what’s released, this could impact #US indices and, in turn, move European indices. The Core is expected to come in lower, with Y/Y flat at 5.0% and the M/M higher at 0.4%. The #CPI data is due to be released at 8:30 am EST tomorrow.

Pattern – Support hold - continuation - HL
Possible targets – 7465 - 7600
Support – 7315 - 7360
Resistance – 7460 (ST)
Indicator support – CCi close to 0 cross – 38.2 fib area

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