Vlad Demochko
Today European exchanges are trading negatively. Investors are disappointed by the fact that Moody’s Investors Service has lowered the rating of the European Union. It has dropped from “stable” to “negative”.
Independent index of largest enterprises of the region Stoxx Europe 600 has lost 0.3 percent, having dropped to 267.57 points. British index FTSE 100 has dropped by 0.46 percent – to 5732.09 points. French САС 40 has lost 0.26 percent, having dropped to 3444.69 points. German DAX has lost 0.31 percent, having dropped to 6993.09 points.
The chart below reflects the current trend of FTSE 100: the index seems to have finished a five-wave uptrend, and at this point prices are within correction in the expectation of another uptrend. The third wave will start if the level of resistance 5766 is overcome. However, such scenario may be denied in case of approaching the critical level of 5671 or forming impulse waves backwards.
Vlad Demochko
