The German index went back and forth on Friday as we found support at the €12,000 level. I believe that the market will eventually break out to the
The German index went back and forth on Friday as we found support at the €12,000 level. I believe that the market will eventually break out to the upside, and they move above the 20-day exponential moving average has been buying and hanging on until we reach towards the €12,300 level. I believe the pullbacks continue to find buyers, as the 50-day exponential moving average has proved itself to be interesting to the uptrend. I think that the market is still very much in an uptrend so therefore I don’t have any interest trying to fight that move.
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.
