The German index gapped higher at the open on Tuesday, reaching towards the €11,000 level. With this being the case, the market looks as if it is ready to
The German index gapped higher at the open on Tuesday, reaching towards the €11,000 level. With this being the case, the market looks as if it is ready to break out eventually, and we look at short-term pullbacks as potential buying opportunities. Once we get above the €11,000 level, we feel that the market will then reach towards the €11,800 level given enough time. Selling isn’t even a thought at this point, as Germany typically leads the way for European indices. With the Euro losing value, we believe that it’s only a matter of time before the DAX continues to go higher.
DAX Forecast November 18, 2015, Technical Analysis
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.