The DAX fell initially during the course of the week, but found enough support at the €11,200 level to turn things back around to form a hammer. This is
The DAX fell initially during the course of the week, but found enough support at the €11,200 level to turn things back around to form a hammer. This is the second week in a row that we have formed a hammer, so we do believe that the DAX is going to continue to go higher. Looking at this chart, we believe that the market will eventually break out and head towards the €12,400 level. As far as we can see right now, selling just isn’t going to be a possibility, at least not until we get below the 11,000 handle.
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.
