Market Analysis of DAX40 on Wednesday 19 August 2024

2024-08-21 19:21Source:BtcDana

Technical Analysis:

DAX 40 is in good uptrend and price might target 14496, We have equal lows around 18390 and price might retest this area before going up. We can look for buying opportunities around this are in 1-3min time frame and target buy side liquidity around 14496.

Fundamentals:

European shares edged up on Wednesday buoyed by gains in miners, while investors awaited the minutes of the U.S. Federal Reserve's July meeting to gauge the direction of global monetary policy.

The pan-European STOXX 600 index SXXP ticked up 0.2% at 513.11 points. The benchmark snapped a five-day winning streak on Tuesday.

Basic resources (.SXPP) climbed 1% after Shanghai aluminium futures hit a five-week high on tightness in raw materials supply.

With no data coming out of Europe on Wednesday, investor focus is on the Fed minutes, due at 1800 GMT, which are expected to reinforce a dovish stance.

Preliminary revisions to U.S. labour data, due at 1400 GMT, will also be closely watched amid expectations of a large downward revision.

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