Advertisement
Advertisement

DAX Forecast August 25, 2015, Technical Analysis

By:
Christopher Lewis
Updated: Aug 25, 2015, 07:12 UTC

The DAX gapped lower at the open on Monday, slicing all the way down to the €9400 level. The markets look well supported though as we bounced and ended up

DAX Forecast August 25, 2015, Technical Analysis

The DAX gapped lower at the open on Monday, slicing all the way down to the €9400 level. The markets look well supported though as we bounced and ended up forming a hammer. The hammer of course signifies that the buyers could be finding quite a bit of support near the €9500 level, so if we can break back above the top of the candle, which is essentially the €10,000 level, we would consider buying. In the meantime, we are sitting on the sidelines and letting the market sort itself out, perhaps finding some stability.

 

DAX Forecast August 25, 2015, Technical Analysis
DAX Forecast August 25, 2015, Technical Analysis

About the Author

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.

Did you find this article useful?

Advertisement