DAX - Daily - Still looking for that break.
I am still leaning more to the upside.
The reason is that I'm a bit skeptical on the Euro. I understand that we've got Draghi talking today and he tends to speak positively about the whole Euro area. And this tends to push Euro higher.
I think it's the contrarian in me that is speaking right now. Looking at the technicals of the Euro pairs, we can see that we are getting squeezed before the big speech. And that's normal.
I can see that a lot of articles are positive on the Euro, so that really alerts me.
With DAX, I think it's time for it to test the crucial level of 12300 and maybe break it, as I don't think that we are in a strong Bear market.
But hey, what do I know...
As always, keep an eye on the price action!
The reason is that I'm a bit skeptical on the Euro. I understand that we've got Draghi talking today and he tends to speak positively about the whole Euro area. And this tends to push Euro higher.
I think it's the contrarian in me that is speaking right now. Looking at the technicals of the Euro pairs, we can see that we are getting squeezed before the big speech. And that's normal.
I can see that a lot of articles are positive on the Euro, so that really alerts me.
With DAX, I think it's time for it to test the crucial level of 12300 and maybe break it, as I don't think that we are in a strong Bear market.
But hey, what do I know...
As always, keep an eye on the price action!
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