The German index broke higher during the day on Wednesday, as we have completely cleared the €10,800 level. This should continue to send the market
The German index broke higher during the day on Wednesday, as we have completely cleared the €10,800 level. This should continue to send the market higher, and pullbacks at this point should find plenty of buyers underneath in order to continue to push towards the longer-term target of €12,500. I believe that every time we pullback, there should be plenty of support, especially at the €10,800 level which was so resistive in the past. It should now be essentially a “floor” after the breakout. As long as the Euro continues to be somewhat soft, the DAX should continue to benefit.
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.
