Technical Analysis:
DAX40 is trading around 18440 and we are seeing price retracing to the downside. We might see price dipping towards 18300-18350 and if price gives us a MSS we can look for buying opportunities. Overall trend is bullish.
Fundamentals:
The DAX added 0.3% to approach the 18470 level on Thursday, tracking its European peers higher, and extending a 1% gain the day before.
Traders await the key US CPI report to readjust their expectations for interest rate cuts from the Fed.
Meanwhile, inflation in Germany fell to 2.2% in June as initially anticipated.
Bayer (2.5%), Sartorius (2%) and Heidelberg Materials (1.6%) were the top performers and Allianz increased 0.5% to a 4-week high of €263.60.
Continental on the other hand, declined 1%.
Disclaimer: Trading carries risk. Practice effective risk management and consider your risk tolerance before trading.
