DAX -1.5% @ 6871 , ES @ MCHVN key area 1397.5, EURUSD at 2 week low
The European markets have sold off as a continuation of yesterdays decline on the back of FOMC.
Fundamentally the news has been poor on Auction results and Retail Sales:
The million dollar question. Is this selling over or will it sell off more in the US session? My feeling is that absent some comments it will sell off some more.
Price levels as mentioned were:
1417 – upside resistance and double top
1410 – 2 day pivot
Key area 1394-97 – we are there right now – (under 1400 round number / psychological level)
1387/1388 – HVN and multi day VPOC – decent support
1377/1380 – HVN – traded in this area before trending upwards – HVN is a magnet but I prefer 1371.5 / balance bottom is stronger support.