The German index initially fell on Wednesday but found enough support just above the €11,500 level to turn things around and break out to the upside. We
The German index initially fell on Wednesday but found enough support just above the €11,500 level to turn things around and break out to the upside. We have been consolidating for a while, so does breakout signifies that perhaps the momentum has finally picked up enough for the market to continue towards the €12,000 handle. I believe that will be the case given enough time, and short-term pullbacks continue to offer value that should be taken advantage of. Ultimately, I believe that we not only reach the €12,000 handle, but we go much higher than that.
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.
