Better Germany data bullish for DE30
Germany’s economic data in the last couple of weeks were positive after the Q2 GDP report. While construction sector contraction continued in July, the retail sales growth of 5.9% over year was above an expected 2.6% increase. And factory orders jumped at higher pace than expected in June, manufacturing activities joined services sector expansion in July according to Markit’s final manufacturing and services PMIs reports, and construction sector contraction slowed as evidenced by construction PMI reading of 47.1 after 41.3 in June. Readings above 50.0 indicate industry expansion, below indicate contraction. At the same time current account surplus more than tripled to 22.4 billion euro in June from 7 billion in May. Improving data are bullish for DE30.
| Indicator | VALUE | Signal |
|---|---|---|
| Stochastic | Neutral | |
| MACD | Neutral | |
| Donchian Channel | Neutral | |
| MA(200) | Buy | |
| Fractals | Buy | |
| Parabolic SAR | Buy |
Summary of technical analysis
| Order | Buy |
| Buy stop | Above 13098.13 |
| Stop loss | Below 12514.45 |
Market Analysis provided by IFCMarkets.com
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