The DAX initially rallied on Thursday, testing the €12,350 level, but found enough resistance to turn back around and give back most of a gains for the
The DAX initially rallied on Thursday, testing the €12,350 level, but found enough resistance to turn back around and give back most of a gains for the day. Because of this, we may get a little bit of a pullback, but that should give you an opportunity to pick up value. I believe that the longer-term outlook for this market is very good, as Germany as the blue-chip index for the European Union. I think pullbacks are the best way to get involved in this market as we will eventually try to reach towards the €12,500 level above, and then the €13,000 level. I have no interest in shorting the DAX.
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.
