The DAX did very little during the course of the week, as we continue to bang around the €10,800 level. The fact that we didn’t go anywhere tells us that
The DAX did very little during the course of the week, as we continue to bang around the €10,800 level. The fact that we didn’t go anywhere tells us that perhaps the market needs to pullback in order to build up enough momentum to continue the bullish momentum. After all, we exploded to the upside and therefore it is probably going to take quite a bit of momentum to continue going higher as we might be a little bit overextended at the moment. I needless to say, we are not even looking for selling opportunities.
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.
