The German index formed a hammer on Friday, just as we did on Thursday and Wednesday. I believe it’s only a matter of time before the buyers get involved
The German index formed a hammer on Friday, just as we did on Thursday and Wednesday. I believe it’s only a matter of time before the buyers get involved and start pushing to the upside again. I think that the €11,650 level should be supportive, and with this being the case I’m more than willing to start buying on either the bounce or break above the Friday candle. The market should then eventually reach towards the €12,000 level, which has a certain amount of psychological significance. Selling isn’t even a thought at this point.
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.
