The DAX fell during the course of the week, testing the €8800 level. We found a little bit of support below there, but having said that it looks as if the
The DAX fell during the course of the week, testing the €8800 level. We found a little bit of support below there, but having said that it looks as if the market bouncing is only going to offer a selling opportunity at higher levels. A resistive candle should offer an opportunity to start shorting this market, and we have no interest whatsoever in buying at this point but we do recognize that a retest of the €9200 level might be needed in order to confirm the next leg lower as it was once support.
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.