The DAX tried to rally during the course of the day on Wednesday, but struggled at the €9100 level. By doing so, the market turned back around to form a
The DAX tried to rally during the course of the day on Wednesday, but struggled at the €9100 level. By doing so, the market turned back around to form a shooting star. The shooting star suggests that we are going to go lower, and perhaps reach down to fresh, new lows. We are sellers of the DAX on a move lower, quite frankly don’t have any interest in buying as stock markets in general look very bad at this point in time. The Euro is strengthening as well, so that of course could continue to weigh upon the DAX as well.
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.
