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DAX: Bull extension and risks still higher (despite a dip)

 

Hi there traders this is Steve Miley for forextraders.com and we’re now here looking at our equity watch in here for today.

So we’re going to take a look at the DAX FUTURE for Friday equities.

So we’re seeing a strong rally in here for the DAX FUTURE surging higher through October. Initially the US-Sino trade deal – the US/China Trade deal – and then also combined with the Brexit deal that we’ve seen drop this week all helping the DAX higher.

We’ve gone to multi-month highs in here, up through this 12599 peak set back here in July of this year, spiking higher again with the Brexit deal yesterday and despite this setback whilst holding above 12588.5 in here today we’re looking for further upside pressures back up to 12719, maybe back up to the 12808.5 new cycle high that we posted yesterday.

So, upside pressures very much intact and looking for further gains going into, not just today, but then through into next week.

[This has been Steve Miley for forextraders.com.]

Have a great trading day all and don’t forget to follow us on our YouTube channel

Risk Statement: Trading Foreign Exchange on margin carries a high level of risk and may not be suitable for all investors. The possibility exists that you could lose more than your initial deposit. The high degree of leverage can work against you as well as for you.


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