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DAX Price Forecast August 29, 2017, Technical Analysis
Updated: Aug 29, 2017, 04:14 GMT+00:00
The German index gapped lower at the open on Monday, and then fell towards the €12,070 level. We turned around to fill that gap, and then started to roll
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The German index gapped lower at the open on Monday, and then fell towards the €12,070 level. We turned around to fill that gap, and then started to roll over again. At the bottom of the move during the day, we were testing the bottom of a gap from several sessions ago. Because of this, I believe that the market should continue to go back and forth, in very choppy and volatile manners as the EUR/USD pair continues to skyrocket. That works against the value of the DAX as it makes German exports expensive. Because of this, I suspect that we are looking at back and forth trading for the next couple of sessions.
DAX Video 29.8.17
About the Author
Christopher LewisSenior Analyst
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.
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