The German index initially fell during the week, but found enough support underneath the €11,500 level. This hammer that form during the week suggests
The German index initially fell during the week, but found enough support underneath the €11,500 level. This hammer that form during the week suggests that the market should continue to go higher. I think that the market will eventually reach towards the €12,000 level, and then the €12,400 handle as it had previously. The falling Euro should continue to benefit the DAX, and thus this market will be highly tied to currency movements. Because of this, I’m watching both markets but I do believe that the buyers will continue to flood towards the DAX.
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.
