The German benchmark index continues to rise on Thursday, but can the short-term uptrend also be confirmed by a higher high?
D1 chart
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Open account Try demo Download mobile app Download mobile appThe DE30 continues the upward movement that started yesterday after the Fed rate decision, testing the 61.8% retracement of the downward impulse that started three weeks ago. A rise above this hurdle could quickly unleash more upside potential and bring the record high, currently around 4% away, into focus.
Source: xStation5
H1 chart
In the hourly chart, the structure within the broader upward impulse that started on December 3 is bullish again after breaking the local high at 15,696 points in pre-market today. After the multiple defense of the 50% retracement, a new major upward impulse may have been initiated.
Source: xStation5
Maximilian Wienke, CFTe
XTB Germany
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