Paris had a fairly strong showing during the Tuesday trading session, but failed at the €3600 level. The failure ended up forming a shooting star, and
Paris had a fairly strong showing during the Tuesday trading session, but failed at the €3600 level. The failure ended up forming a shooting star, and this of course signals that we could get a bit of a pullback. However, the €3500 level looks like it could provide a bit of support now that we have formed the cluster last week, and as such we think that any pullback will more than likely simply be a set up for the breakout this coming. As for selling, we could take a short-term sell position on a break of the Tuesday lows, but we do fully expect €3500 to be far too supportive for a selloff to take out.
CAC 40 Index Futures Forecast December 5, 2012, Technical Analysis
Being FXEmpire’s analyst since the early days of the website, Chris has over 20 years of experience across various markets and assets – currencies, indices, and commodities. He is a proprietary trader as well trading institutional accounts.