The CAC fell hard during the course of the week as most European indices did. With this, we believe that the market is going to try to find support below,
The CAC fell hard during the course of the week as most European indices did. With this, we believe that the market is going to try to find support below, but we certainly can’t buy quite yet as there is more than enough bearish pressure at this point. However, we find some type of supportive candle close to the 4600 level, or even better yet at the 4500 level, we would be buyers. With this, we believe that the market should continue to offer buying opportunities as part of the overreaction would be due to lack of volume.
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.
