The German index gapped lower at the open on Friday, and then just simply sliced through the €8900 support level like it wasn’t even there. With that, the
The German index gapped lower at the open on Friday, and then just simply sliced through the €8900 support level like it wasn’t even there. With that, the market looks very negative, and we believe that it will continue to fall point forward. We’ve gotten no interest whatsoever in buying this marketplace, and with that it’s only a matter of time before we drift all the way down to the €8500 level as far as we can see. What frankly, this market looks very weak at the moment, and therefore rallies will all be treated with suspicion.
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.
