The German index gapped higher at the open on Monday, and then broke towards the €12,500 level. If we can break above the top of the candle for the week, I think that we go looking for the €13,000 level again. Pullbacks should be supported, and I believe that the €12,000 level is going to act as a floor in this market due to the hammer that formed on the weekly chart a couple of weeks ago. I believe that the DAX will continue to be the favored index in the European Union going forward. Once we break above €13,000, the market can go much higher.
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DAX forecast for the week of September 18, 2017, Technical Analysis
The German index gapped higher at the open on Monday, and then broke towards the €12,500 level. If we can break above the top of the candle for the week,
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About the Author
Christopher LewisSenior Analyst
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.
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