The CAC gapped lower at the open on Monday, dipping down to the €4250 level. We did bounce a bit though, so the question then becomes whether or not we
The CAC gapped lower at the open on Monday, dipping down to the €4250 level. We did bounce a bit though, so the question then becomes whether or not we can find enough stability to start buying again. We do not have it yet, but as we wait on the sidelines we will look at daily candles for signs that perhaps the market is trying to stabilize and take advantage of value as it has most certainly been oversold recently. There is a lot of fear in the market right now, and that is when you have to start thinking about buying, but you have to be patient as well.
Chris is a proprietary trader with more than 20 years of experience across various markets, including currencies, indices and commodities. As a senior analyst at FXEmpire since the website’s early days, he offers readers advanced market perspectives to navigate today’s financial landscape with confidence.
