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DAX Forecast December 7, 2016, Technical Analysis

By:
Christopher Lewis
Published: Dec 7, 2016, 05:03 UTC

The German DAX initially fell during the session on Tuesday but turned around to form a nice-looking hammer. The hammer sits just below the vital €10,800

Dax daily chart, December 07, 2016

The German DAX initially fell during the session on Tuesday but turned around to form a nice-looking hammer. The hammer sits just below the vital €10,800 level, so if we can break above there I feel that the market will continue to go higher, as we would more than likely try to reach towards the €11,000 level rather quickly. Pullbacks continue to offer buying opportunities based upon value as far as I can see, and I believe that the buyers will continue to be very aggressive. The falling Euro should continue to support the idea of higher European indices, so I believe that we are going higher.

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.

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