The German index initially fell during the week, but as we have seen previously, the €11,500 level offers quite a bit of interest. By finding the support
The German index initially fell during the week, but as we have seen previously, the €11,500 level offers quite a bit of interest. By finding the support there, we ended up forming a hammer, suggesting that we are going to go higher. I do prefer going long of the DAX in general, so I believe longer-term traders will continue to hold onto their positions and drive this market towards the €12,350 level again. I have no interest in selling, and I believe there is a hard “floor” at the €11,400 level underneath.
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.
