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.
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.
