The CAC went back and forth during the day on Friday, but most important we showed that there is a significant amount of support at the €4950 level.
The CAC went back and forth during the day on Friday, but most important we showed that there is a significant amount of support at the €4950 level. Ultimately, the market should then go higher if we can clear the top of the range as we will have eventually cleared the €5000 handle. Once we get above there, the markets should then reach towards the €5200 level given enough time, which of course is our longer-term target at the moment. We have noticed whatsoever in selling at this point in time, as we see the €4850 level as the “floor.”
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.
