The German index initially fell during the week, but has found enough support at the €11,900 level to turn things around and form a nice-looking hammer. I
The German index initially fell during the week, but has found enough support at the €11,900 level to turn things around and form a nice-looking hammer. I believe that the DAX is going to continue to go much higher, and therefore I am a longer-term buyer. The €12,400 level above there should be resistive as it was resistance in March 2015, but given enough time I think we break well above that level as well. When the market falls, it only offers value at this point. Selling isn’t even a thought.
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.
