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CAC Forecast October 10, 2014, Technical Analysis

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

The CAC initially gapped higher at the open, but then turned back around and fell apart. The market closed at 4140, and looks likely to continue. The 4000

CAC Forecast October 10, 2014, Technical Analysis

The CAC initially gapped higher at the open, but then turned back around and fell apart. The market closed at 4140, and looks likely to continue. The 4000 level below is our “floor”, and as a result we are aren’t comfortable selling until we break below that level. The Parisian markets are oversold as far as we can tell, and as a result we feel value hunters will appear. However, we don’t have the appropriate set up to start buying quite yet, keeping us on the sidelines for the time being as we need to see what shakes out.

 

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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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