DAX: Next Target 16100?

Both EUR/USD and GBP/USD ended yesterday’s trading day virtually unchanged. The euro remained in a very narrow trading range between 1.19 and 1.1850 while the cable dipped slightly lower towards 1.3815 but was able to stabilize above 1.3830 towards the end of the day.

The best performer was the DAX that surged to a high of 15960, providing us with a good gain from our long entry at 15860. As long as 15700 holds, we keep tabs on a higher target at 16100.

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