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.”
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.
