The Parisian index rose a bit during the course of the day on Wednesday, but still remains below the vital €5000 handle. If we can break above €5000, at
The Parisian index rose a bit during the course of the day on Wednesday, but still remains below the vital €5000 handle. If we can break above €5000, at that point in time we feel as if the CAC can continue to go much higher. We have no interest whatsoever in selling this market though, we see more than enough support below at the €4850 level, the €4000 level, and the €4750 level. With that, we think there are more than enough opportunities for the buyers to continue to push this market higher, and as a result we remain bullish.
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.
