As early polling results on Sunday show that, although Chancellor Angela Merkel has been elected for a fourth term, her party has lost ground to the far right, and a coalition government will need to be formed amid much discussion over, what could take, months.The German DAX Index is near long-term uptrend resistance, as shown on the following Monthly chart, so support may taper off during Q4 of 2017, as Q3 ends this week, and investors mull over their next moves in Europe and in other world indices.
The euro is at long-term price resistance, as it faces a great deal of overhead supply above 1.1900
Conversely, the US dollar is sitting above long-term major support at 90.00
The following Monthly chart of the Emerging Markets ETF (NYSE:EEM) shows that the 2-year rally has now hit long-term major price resistance around the 45.00 level.
Source: Bloomberg Pro Terminal
Trader Bozhidar Arabadzhiev
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