(MENAFN– Daily Forex) Potential signal:
- I’m bullish on the DAX and won’t sell.
- I’ll buy if it pulls back to €19,500.
- I’m also ready to buy at a new high of €19,686, with a stop loss at €19,400. My target is €20,000.
The DAX is a key driver in European markets, especially after the European Central Bank’s recent interest rate cut, which could boost stocks.
A weaker euro benefits Germany, a leading exporter, making the DAX a likely winner in the EU.
The technical outlook is positive. We reached a new high recently, then pulled back, which is normal after an interest rate decision. The €19,500 level is now a support point, attracting buyers on dips.
Furthermore, the €19,000 level acts as a strong support floor, backed by the 50-day EMA. I’m optimistic and believe stability will draw more interest.
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