The German index fell significantly during the course of the day, testing the €8800 level, but bounced enough to turn things back around and form a bit of
The German index fell significantly during the course of the day, testing the €8800 level, but bounced enough to turn things back around and form a bit of a hammer. That hammer of course is a bullish sign but ultimately we need to see whether or not sellers will return to this marketplace. A bounce is an opportunity to sell again in our opinion. We have no interest in buying this market, as it looks so be down and therefore we either sell the rallies that are coming, or break down below the €8800 level.
Being FXEmpire’s analyst since the early days of the website, Chris has over 20 years of experience across various markets and assets – currencies, indices, and commodities. He is a proprietary trader as well trading institutional accounts.
