The German index rallied significantly during the session on Friday, as the EUR/USD pair rolled over. This of course makes German exports cheaper, but at
The German index rallied significantly during the session on Friday, as the EUR/USD pair rolled over. This of course makes German exports cheaper, but at the end of the day I think a lot of this comes down to the overall momentum of Germany itself. I think that buying dips will continue to be the best way to go going forward, and that the 12,000-level underneath should offer plenty of support. I believe that it might be choppy, but rallies are opportunities to go long in a market that shows extreme strength. On the weekly chart, we are formed a hammer, and that of course is an extraordinarily bullish sign as well. I have no interest in shorting this market.
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.
