The DAX fell initially during the course of the week, but found a significant amount of support at the €9400 level. By doing so, we continue to bounce and
The DAX fell initially during the course of the week, but found a significant amount of support at the €9400 level. By doing so, we continue to bounce and then we broke above the €10,200 level. By doing so, it looks as if we are ready to head towards the €10,400 level, which offered a bit of resistance. If we can break above there, we feel that the market then continues to go as high as €11,800 given enough time. The DAX looks as if it is finding support in that range just below, and as a result we think the buyers are coming back.
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.
