The Parisian index initially fell during most of the week, but found enough support just above the €4900 level to turn things back around and form a
The Parisian index initially fell during most of the week, but found enough support just above the €4900 level to turn things back around and form a hammer. This hammer formed bouncing off of the gap below, so basically this market did exactly what we would’ve anticipated. With this being the case, if we can break above the top of the hammer for the week, we are buyers but recognize that there is a significant amount of noise above, and extending all the way to the €5250 level. We have no interest in selling.
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.
