The CAC gapped lower at the open on Friday, and then continued to drop below, even breaking down below the €4100 handle. With that, the market looks as if
The CAC gapped lower at the open on Friday, and then continued to drop below, even breaking down below the €4100 handle. With that, the market looks as if it’s ready to continue to fall from here, but we recognize that €4000 will more than likely be somewhat supportive. Because of this, we are actually waiting to see whether or not we can break down below €4000 in order to sell this market, but certainly wouldn’t have any interest whatsoever in buying this market in its present condition. Because of this, we are cautious, but very bearish.
Chris is a proprietary trader with more than 20 years of experience across various markets, including currencies, indices and commodities. As a senior analyst at FXEmpire since the website’s early days, he offers readers advanced market perspectives to navigate today’s financial landscape with confidence.
