The German index a gap tire at the open, and then turned around to test support at the €11,500 level on Wednesday. By doing so, we ended up forming a
The German index a gap tire at the open, and then turned around to test support at the €11,500 level on Wednesday. By doing so, we ended up forming a hammer, and a hammer of course suggests that we are going to start going long again. I think there’s enough noise above to keep this market somewhat in a range though, but longer-term I feel that the uptrend will continue as the recent consolidation could be simply trying to build up enough momentum to continue higher. I have no interest in selling the DAX.
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.
