The German index as you can see broke down significantly during the week, slicing through the €12,500 level. That’s a very negative sign, but we are
The German index as you can see broke down significantly during the week, slicing through the €12,500 level. That’s a very negative sign, but we are approaching what could be thought of as an uptrend line. I also believe that there is a significant amount of support near the €12,000 handle, which is a psychologically significant level as well. If we can stay above there, I would be a bit leery of shorting this market and I believe that most of the selloff has been due to the EUR/USD pair skyrocketing.
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.
