The DAX broke higher during the course of the day on Wednesday, testing the €10,200 level. This is a large, round, psychologically significant number, but
The DAX broke higher during the course of the day on Wednesday, testing the €10,200 level. This is a large, round, psychologically significant number, but quite frankly there’s nothing here that makes me believe that we can continue to go higher. Short-term pullbacks should be buying opportunities, just as a break above the top of the range for the day on Wednesday would be. At this point in time, I am targeting the €10,400 level next, and then possibly a move above there. Also, it should be noted that we have broken above the 200 day exponential moving average which of course is a very bullish sign 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.
