European Indexes Analysis - FTSE100, DAX and CAC40
In this article, we going to analyze FTSE100, DAX30 and CAC40, the main indexes in the European market. These indexes have been following a strong bullish movement over the past few days and weeks. However, we still can identify good opportunities in order to follow the bullish trend.
FTSE100 - Weekly Time Frame
As we can see on weekly time frame chart, the price has broken recently the consolidation zone (blue box). If we look closer, we can see that the price is forming a upside trend as well. Therefore, we can expect further bullish movement.
In this scenario the best entry point could be when the price starts to correct its movement - close to the trend line.
DAX30 - Weekly time frame
DAX closed last week above the trend line, which gives us more confidence to expect a further bullish movement, and besides that, we can see that there is a candlestick pattern (Bullish engulfing).
In this scenario, we have some confirmation of a possible new bullish movement. A bullish engulfing above the upside trend line is usually a good opportunity to long entries.
CAC40 - Weekly time frame chart
The French index has been showing some difficultly in breaking through the level at 13500. However, the Fibonacci level is holding pretty well the price above the 50% of Fiboancci levels. This could indicate a bullish movement soon.
In this scenario, the best entry to long is to wait for the breakout above the level at 13500 or to see how the price reacts close to the Fibonacci levels.
