The DAX initially tried to rally, but then turned around to fall significantly during the day. We are testing a supportive area, but if we break down
The DAX initially tried to rally, but then turned around to fall significantly during the day. We are testing a supportive area, but if we break down below the bottom of the session during the day we could go much lower, perhaps reaching towards the 12,300 level. I think that the market will more than likely continue to show resistance, but if we can break above the 12,500 level, the market should continue to go much higher. A lot of the selloff has been due to the EUR/USD pair rallying significantly, working against the value of the German exports.
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.
