The German index fell initially during the week, breaking below the €12,000 level. However, we found more than enough support underneath to turn things
The German index fell initially during the week, breaking below the €12,000 level. However, we found more than enough support underneath to turn things around and form a massive hammer. By doing so, the market looks likely to continue to go to the upside. I think that the €12,000 level continues to be a bit of a floor, and with that being the case I think it’s only a matter of time before we go looking towards the €12,500 level. Pullbacks continue to represent buying opportunities, and is not until we break down below the bottom of the weekly range that I would consider selling.
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.
