The DAX fell rather hard during the course of the day on Tuesday, crashing through the €10,000 level. This is a market that has quite a bit of support
The DAX fell rather hard during the course of the day on Tuesday, crashing through the €10,000 level. This is a market that has quite a bit of support just below though, so although the candle is very bearish looking, we are not willing to start selling the DAX yet. A supportive candle below would be reason enough to start going long, but at this point in time we do not have it so therefore we are on the sidelines. At the first signs of a bounce though, we are willing to buy the DAX as it typically leads the rest of the European markets.
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.
