The Parisian index initially gapped lower at the open on Monday, but found the €4850 level be far too supportive to continue going lower. With that, we
The Parisian index initially gapped lower at the open on Monday, but found the €4850 level be far too supportive to continue going lower. With that, we bounced significantly and tested the €4950 level for resistance. We believe ultimately this market is trying to work its way above the 5000 handle, but it may take some time to get above there. Ultimately, we have quite a bit of bullish pressure underneath to continue to push this market higher. We think that once we get above the €5000 level, the market then reaches towards the €5200 level.
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.
