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CAC forecast for the week of October 27, 2014, Technical Analysis

By:
Christopher Lewis
Updated: Aug 25, 2015, 03:00 UTC

The Parisian index initially dipped lower at the open during the week, but the €4000 level turned back around the bearish pressure and send the market

CAC forecast for the week of October 27, 2014, Technical Analysis

The Parisian index initially dipped lower at the open during the week, but the €4000 level turned back around the bearish pressure and send the market much higher. With that, we closed above the top of the hammer from the previous week, thereby sending a longer-term buy signal into the marketplace. With that, we feel that this market will then head to the €4500 level, and should continue to attract traders all the way out. Recognize that there will be a little bit of bumping us on the way higher, but ultimately that is the signal.

 

cacWEEK

About the Author

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.

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