The German index fell hard during the course of the day on Thursday, but turned back around at the €8,350 level. That being the case, the market looks as
The German index fell hard during the course of the day on Thursday, but turned back around at the €8,350 level. That being the case, the market looks as if we are ready to bounce from here overall, but we need to clear the €8900 level in order to feel comfortable enough to start buying. Ultimately, we feel that the German markets will do better than most of the European markets first, as it is considered to be the “safest” markets to be involved in. On the other hand, if we break down below the bottom of the hammer at the €80,350 level, that would indeed be a very negative sign.
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.
