The DAX initially fell during the course of the day in preparation of an announcement coming out of the ECB as far as interest rates and monetary policy
The DAX initially fell during the course of the day in preparation of an announcement coming out of the ECB as far as interest rates and monetary policy is concerned. However, by the end of the day the ECB managed to stand by its very loose monetary policy, so I believe that the DAX will continue to go higher given enough time. Breaking above the €10,800 level is reason enough to hang onto a long trade as I think the DAX will continue to benefit from the loose monetary policy coming out of Brussels.
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.
