The DAX fell during the session on Tuesday, testing the €12,000 level. This is also the 50-day exponential moving average, so a bounce is not a huge
The DAX fell during the session on Tuesday, testing the €12,000 level. This is also the 50-day exponential moving average, so a bounce is not a huge surprise. We been in a nice uptrend for some time, some looking to buy this index given enough opportunity. I have a target of €12,300, but if we break down below the €11,900 level, we could continue to drift lower. With this, I think that the market more than likely will continue to find buyers, so I prefer going long on signs of strength or stability.
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.
