A break and closing above the 15529 all time high price, the DAX may be eyeing the Fibonacci 1.618 resistance at price 15960 and the 2.618 Fibonacci Resistance at price 16664. Important support levels for a trend reversal at 14833, at 14135 and 13643 prices all formed by previous lows and inside support levels.
• The news for EU Economic Area and Europe today are limited to UK Halifax HPI and EU Sentix Investor Confidence.
• According to updated projections coming out of the Bank of England, there is an improved outlook for the British Pound. The central bank expects economic activity to bounce back to pre-pandemic conditions later this year. The update to the UK Gross Domestic Product report may generate a limited reaction in GBP pairs as the Monetary Policy Committee (MPC) slows the pace of its weekly asset purchases to GBP 3.4B from the previous rate of GBP 4.4B.
• The European Union and India agreed on Saturday to re-enter negotiations on a bilateral free trade deal. It has been eight years after their failed first attempt and this became necessary as both sides seek alternatives to China.
• At 07:30 (GMT) the announcement of the Halifax Bank of Scotland HPI is due. This indicator measures change in the price of homes financed by the Halifax Bank of Scotland. It's a leading indicator of the housing industry's health as rising house prices are considered to attract investors and spur industry activity.
• At 08:30 GMT EU Sentix Investor Confidence is due. This survey includes 2,800 investors and analysts, which asks respondents to rate the relative 6-month economic outlook for the Eurozone.
European indices Friday:
• DAX: +1.34%
• EURO: +0.87%
• MIB: +0.48%
• CAC: +0.45%