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Instrument: DE30
Bullish Preference:
A buy position is envisaged if the price trades above 15672.4 with take profit at 15696.4
Bearish Preference:
A sell position is envisaged if the price trades below 15583.7 with take profit at 15563.8
Fundamentals:
1:15pm
EUR Main Refinancing Rate
EUR Monetary Policy Statement
1:45pm
EUR ECB Press Conference
Comment:
The German government will downgrade its economic forecast for this year to a contraction of as much as 0.3%, Bloomberg News reported on Wednesday, citing a person familiar with the revised forecast.
Also, European shares fell on Tuesday, dragged down by German software maker SAP following a weak forecast from U.S. tech firm Oracle, while investors turned cautious ahead of U.S. inflation data and the European Central Bank’s rate decision later this week.
Analysis: SCRUM Team
