DAX Index Price Forecast March 12, 2018, Technical Analysis

The German index was very noisy during trading on Friday, as a jobs number in America came out much higher than anticipated. This was a very bullish sign and put a bit of a “risk on” feel to the markets. This had traders buying the DAX, as well as many other stock markets around the world. Because of this, I believe that the rallies continue in the DAX, and that the €12,000 level continues to be a “floor” in this market. I like buying dips and recognize that the proclivity seems to be very positive.

There is a bit of noise just above, extending between the €12,400 level and the €12,600 level, but I think that pullbacks will simply be an opportunity to pick up value and build up momentum to finally break through that area and continue towards the €13,000 level. Longer-term, if you’ve been watching me here at FX Empire, I believe that we are going to continue to go to the €15,000 level. Ultimately, this is a market that continues to find reasons to go higher, just as the we see in the other stock indices around the world. The DAX is the linchpin of European indices, so I think it’s only a matter of time before this market will let the others such as the CAC, MIB, and Amsterdam indices. It’s not until we break down below the €11,800 level that I’m interested in shorting. Currently, that looks very unlikely to happen.

DAX Video 12.03.18