DAX Forecast August 3, 2015, Technical Analysis

The DAX as you can see fell initially during the course of the session on Friday, but found support just as we did on Thursday. On top of that, the Wednesday session also formed a hammer, so really this point in time it looks like the DAX is going to be one of the stronger performers out there. We have no interest whatsoever in shorting this market, as it should continue to be fairly strong given enough time. We believe that pullbacks offer buying opportunities as well, and will continue to favor the DAX over most indices.