The German index had a negative week, but did find enough support at the €9400 level to turn things back around and test the €10,000 level. We now believe
The German index had a negative week, but did find enough support at the €9400 level to turn things back around and test the €10,000 level. We now believe that if the market can break above the €10,000 level, which should then head towards the €10,400 level. A break above the €10,500 level is a longer-term opportunity for buying this market, and as a result we are waiting for that to get involved from the longer-term charts. We believe that shorter-term traders will continue to drive the market in the short-term, but one thing that we do agree on is that we aren’t interested in selling.
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.
