The DAX as you can see initially fell during the course of the session on Thursday, but found enough support based upon the hammer from the previous day
The DAX as you can see initially fell during the course of the session on Thursday, but found enough support based upon the hammer from the previous day to go much higher. On top of that, the European Central Bank initiated further quantitative easing, and as a result the value of the Euro continues to drop. With that being the case, the market appears that it is continuing its way higher, and as a result we are buying pullbacks in the DAX in order to take advantage of what should now be another leg higher for European stock indices in general.
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.
