The DAX fell during the course of the week, testing the €8800 level. We found a little bit of support below there, but having said that it looks as if the
The DAX fell during the course of the week, testing the €8800 level. We found a little bit of support below there, but having said that it looks as if the market bouncing is only going to offer a selling opportunity at higher levels. A resistive candle should offer an opportunity to start shorting this market, and we have no interest whatsoever in buying at this point but we do recognize that a retest of the €9200 level might be needed in order to confirm the next leg lower as it was once support.
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.
