The DAX initially fell during the course of the week, falling down below the €11,000 level. Turning things around was the next move, as we did up forming
The DAX initially fell during the course of the week, falling down below the €11,000 level. Turning things around was the next move, as we did up forming a bit of a hammer. If we can break above the €11,400 level, the market should then go higher and reach towards the €11,800 level and beyond. We believe that the bounce recently has been rather significant, and the volatility is picking up as the bullish pressure continues to increase. We have no interest in selling this market as the DAX looks very well supported.
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.
