The DAX initially fell during the session on Wednesday, but found enough support at the €11,200 level to turn things back around and form a nice-looking
The DAX initially fell during the session on Wednesday, but found enough support at the €11,200 level to turn things back around and form a nice-looking hammer. Because of this, we feel that this market should continue to go much higher, and give us a nice long-term buy-and-hold situation in a market that most certainly has a massive amount of support below. As long as the European Central Bank has to force liquidity into the marketplace, the DAX of course will continue to do fairly well, as it is one of the more trusted stock indices in the European Union.
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.
