The DAX fell hard during the course of the week, breaking below the €9300 level and eventually slicing all the way down through the €8900 level, the very
The DAX fell hard during the course of the week, breaking below the €9300 level and eventually slicing all the way down through the €8900 level, the very bottom of the overall consolidation area that we had been in. Because of this, the DAX now looks broken, and we believe that the stock market will continue to go much lower. We closed at the very lows of the week, and that of course is a very negative sign as well. With that being the case, we have no interest whatsoever in buying this market at the moment.
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.
