European indices closed sharply higher on the day

Technical Analysis

Author: Greg Michalowski | german-dax

German DAX rises over by 3.2%

The European indices are close for the day and the provisional closes are showing sharply higher levels for each of the major indices:
  • German DAX, +3.2%
  • France's CAC, +2.5%
  • UK's FTSE 100, +1.8%
  • Spain's Ibex, +2.4%
  • Italy's FTSE MIB, +2.4%
In other markets as London/European traders look to exit:
  • spot gold is trading up $10.40 or 0.56% $1872.08
  • spot silver is up $0.44 or 1.97% at $23.35
  • WTI crude oil futures are trading up $0.11 or 0.27% at $40 and 36%
in the US stock market, major indices continue to move to the upside with the Dow industrial average leading the way:
  • S&P index up 51.38 points or 1.56% at 3349.82
  • NASDAQ index up 150 points or 1.38% at 11064
  • Dow industrial average up 3 475 points or 1.75% at 27648.60
In the Forex market, the GBP remains the strongest of the major currencies, although lower vs the early NY changes. The NZD has taken over from the USD as the weakest of the majors. The greenback has risen vs. the GBP, EUR and and JPY in the NY session.   Overall the dollar is still lower but off its lowest levels.

The USD is lower but off its lows levels
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