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Trade idea: Long DAX futures on positive strides
Steve O’Hare from First 4 Trading is focusing on DAX futures; he says the last two trading sessions may have been “mixed and indecisive”, but overall prices have made positive strides. He also expects a drive higher of this week's high.
He also adds that after last week's bearish engulfing candle, set-backs have run into buying interest, which is why he remains positive on his bias.
As a result, Steve's call is bullish and he will buy in front of 8200. He plans to place a stop 8170 and his targets are 8245, 8275 & 8315.
European stocks were higher on Thursday, as markets eyed monthly policy statements by the European Central Bank and the Bank of England. Both central banks decided to keep rates at record lows.
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Tags: bank of england, boe, central banks, dax, dax futures, ecb, europe, european central bank, european economy, european stocks, first 4 trading, futures, german economy, germany, investing, investment, macro, markets, prices, rates, rates decisions, saxo bank, saxo tv, steve o'hare, trade, trade idea, trader, trading, tradingfloor.com, video