The German index gapped higher a couple of days ago, and now it looks like we are dropping to try to find support below. The gap most certainly will be
The German index gapped higher a couple of days ago, and now it looks like we are dropping to try to find support below. The gap most certainly will be supportive, and I believe that eventually the buyers will return. Because of this, I have no interest in shorting this market, I believe that we will then reach towards the €12,300 level. I think that the €12,000 level underneath is the “floor” in the market, and that the German markets will eventually focus on the fundamentals as well, and that should continue to send this market 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.
