The German index fell significantly during the course of the day, testing the €8800 level, but bounced enough to turn things back around and form a bit of
The German index fell significantly during the course of the day, testing the €8800 level, but bounced enough to turn things back around and form a bit of a hammer. That hammer of course is a bullish sign but ultimately we need to see whether or not sellers will return to this marketplace. A bounce is an opportunity to sell again in our opinion. We have no interest in buying this market, as it looks so be down and therefore we either sell the rallies that are coming, or break down below the €8800 level.
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.
