The DAX as you can see gapped lower at the open on Thursday, and then plowed into the €10,450 level. With this, we think that the market looks dangerously
The DAX as you can see gapped lower at the open on Thursday, and then plowed into the €10,450 level. With this, we think that the market looks dangerously negative now, and we would sell any signs of weakness between now and the €10,700 handle. If we break back above there though, we would be buyers as it would show a real turn around and momentum. We believe that the €10,000 level below will be massively supportive though, so we will have to reevaluate what we see once we get to that level if we do in fact keep on falling.
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.
