The fact that interest rates in Europe remain low supports the stock market. In the US the key interest rate was kept unchanged.
In her speech, the Fed's Chief Janet Yellen said that the Regulator needs more time to consider the overall state of the US economy. Despite a growth, risks are still high and the importance of the first increase should not be overestimated.
According to experts, the interest rate will be increased to 0.4% by the end of the year, and to 1.4% by the end of 2016. As a result of an increase, a decline in the stock market will follow.
Support and resistance
German FDAX is trading in an upward channel, the lower border of which is the resistance level of 10100.4. If this level is broken down, the next target would be 9528.4.
In general, the price is likely to grow back to its highs.
Support level is 10100.4.
Resistance level is 10519.9.
Open long positions above the level of 10335.5 with the target at 10519.9 and stop-loss at 10100.4.