MENAFN – Daily Forex: Potential signal:
- I’m bullish on the DAX and not interested in selling.
- Looking to buy if it pulls back to €19,500.
- Also willing to buy at a new high of €19,686, with a stop loss at €19,400. Targeting €20,000.
The DAX is a key market indicator in Europe, especially following the European Central Bank’s interest rate cut on Thursday, which may boost stock prices.
A weaker euro benefits Germany’s exports, making the DAX advantageous due to its connection to the EU economy. Despite occasional pullbacks, strong buying interest is expected.
Technical analysis shows bullish momentum, with recent highs indicating strong buyer support, especially around the €19,500 mark. The €19,000 level acts as a solid support floor, reinforced by the 50-day EMA. Overall, I remain bullish and see value in buying on stability.
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