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.
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.
