The German index fell rather significantly during the course of the day on Monday, as the markets continue to look rather susceptible to downward
The German index fell rather significantly during the course of the day on Monday, as the markets continue to look rather susceptible to downward pressure. With that being the case, we are sellers on rallies on short-term charts, and of course an extension of the downward pressure in the move to a fresh, new low. Given enough time, it looks like the DAX could go as low as 8500 rather quickly. We have no interest in buying the DAX at this point in time as it looks like most European indices are starting to really fall apart.
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.
