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.
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.
