The German index initially tried to rally on Monday, but found enough resistance to continue falling. I still think there’s plenty of support below
The German index initially tried to rally on Monday, but found enough resistance to continue falling. I still think there’s plenty of support below though, so I’m not interested in selling and I look at this pullback as an opportunity to pick up value in a very strong uptrend. I think that the 11,650 level will be the floor, and at the first signs of support or a bounce am willing to go long and start aiming for the €12,000 handle. I have no interest in selling, least not into we break well below the €11,500 level.
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.
