The DAX initially fell during the session on Thursday, but found enough support at the 50-day exponential moving average to turn things around and form a
The DAX initially fell during the session on Thursday, but found enough support at the 50-day exponential moving average to turn things around and form a positive looking candle. It now looks as if we are ready to go higher, reaching towards the €12,400 level over the longer term. I have no interest in shorting, the DAX continues to lead the rest of the European Union higher overall. Ultimately, I think it will be rather choppy but I still believe that there is a significant amount of bullish pressure longer-term in this market.
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.
