The German index did very little at the end of the day on Friday, as we went back and forth and essentially settled on a relatively neutral candle. With
The German index did very little at the end of the day on Friday, as we went back and forth and essentially settled on a relatively neutral candle. With that being the case, the market looks as if there is significant resistance just above, because of the gap. With that being the case, the market is very likely to continue to see bearish pressure in the short-term, but we do believe that there is massive support just below. With this, we think short-term traders will sell, but as we come out of the summertime holiday season, we should start see buyers reenter the market.
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.
