(MENAFN– Daily Forex) Potential signal:
- I am bullish on the DAX index and only looking to buy.
- Ready to buy at €19,500 if the market pulls back.
- I will also buy if it breaks a new high at €19,686, with a stop loss at €19,400. My target is €20,000.
The DAX is very important for European markets, especially after the European Central Bank’s recent interest rate cut, which may encourage stock buying.
A weaker euro benefits Germany as a major exporter, making the DAX likely to continue performing well. While there may be pullbacks, there are many buyers in the market.
Technical analysis is positive, with new highs reached during trading despite some volatility. The €19,500 level seems to be a strong point, with buyers expected on pullbacks looking for value.
The €19,000 level acts as significant support, reinforced by the 50 Day EMA, indicating bullish sentiment. Stability in the market could present good buying opportunities.
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