European indices face pressure with FTSE 100 and DAX 40 struggling

IG

The FTSE 100 is currently trading sideways, staying below this week's high of 8,319 but above the 55-day simple moving average at 8,231.

If the index reaches the 8,326 to 8,372 range, it may face resistance and limit upward movement.

In Germany, the DAX 40 is attempting to break its downtrend line at 19,438 and surpass Monday's high of 19,469.

If successful, the index could target the range of 19,546 to 19,566 established earlier this month.

Key support levels are identified below Friday's low at 19,351, with further support at the 55-day SMA of 19,226 and Wednesday's low of 19,144.

The CAC 40 in France is currently above this week's low of 7,091, close to its August trough at 7,028.

There is minor support between the levels of 7,158 to 7,131.

If the index rises above Thursday's high of 7,207, it could indicate a move towards the November downtrend line at 7,262.

However, the medium-term downtrend remains intact as long as Monday's high of 7,338 holds.

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