The DAX initially tried to rally during the course of the day on Monday, but found far too much in the way of resistance just below the €10,900 level to
The DAX initially tried to rally during the course of the day on Monday, but found far too much in the way of resistance just below the €10,900 level to continue going higher. Because of the shooting star, we believe that the market is ready to pull back, but at this point in time we are simply waiting to see some type of supportive candle below in order to start picking up value. Most of Europe looks very similar, so we think we are simply taking a bit of a break from the upward momentum.
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.
