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.
Chris is a proprietary trader with more than 20 years of experience across various markets, including currencies, indices and commodities. As a senior analyst at FXEmpire since the website’s early days, he offers readers advanced market perspectives to navigate today’s financial landscape with confidence.
