The DAX rose during the day on Thursday, testing the €11,200 level above. It looks as if we could pullback, in order to build up more momentum as we have
The DAX rose during the day on Thursday, testing the €11,200 level above. It looks as if we could pullback, in order to build up more momentum as we have recently broken out. I believe that the €10,800 level below should be essentially a “floor” in this market. With this, I believe that the buyers continue to enter this market, as we most certainly have seen a massively bullish move. With the Euro falling quite drastically, it suggests that the DAX should continue to benefit from cheaper currency as far as exports are concerned.
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.
