The German index fell during the week, testing the trendline that is marked on the chart. I believe that the €12,000 level underneath continues to offer
The German index fell during the week, testing the trendline that is marked on the chart. I believe that the €12,000 level underneath continues to offer support, and I believe that if we see buyers in that area the market should then reach towards the €12,500 level. The markets should continue to find buyers on pullbacks as the DAX has lead the way for the entire European Union. I think that the €12,500 level will offer a significant amount of resistance, but it is probably only a matter of time before we breakout above there.
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.
