The DAX Index initially rallied on Tuesday but ran into quite a bit of trouble at the €12,500 level. This is a large, psychologically important number, so
The DAX Index initially rallied on Tuesday but ran into quite a bit of trouble at the €12,500 level. This is a large, psychologically important number, so I think that sellers may enter the market and try to push the DAX lower to fill the gap. Because of this, I anticipate some softness over the next couple of sessions. However, this does not change my longer-term outlook of bullish pressure. If we can break above the €12,500 level, that would be a sign that we are going to go much further to the upside.
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.
