The German index initially fell on Monday, but found support just above the €1500 level. Because of this, we formed a slight hammer and with the German
The German index initially fell on Monday, but found support just above the €1500 level. Because of this, we formed a slight hammer and with the German ZEW Economic Sentiment numbers coming out today, we could get a little bit of volatility. I still believe that there is a massive amount of support extending all the way down to the €11,400 level below, so he the way I’m not looking to sell until we break below there. In the meantime, I believe that eventually we will breakout to the upside because after all “consolidation leads to continuation.”
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.
