The Parisian index fell during the course of the session initially on Tuesday, but found enough support just below the 4020 level to turn things back
The Parisian index fell during the course of the session initially on Tuesday, but found enough support just below the 4020 level to turn things back around and form a hammer. Because of this, it appears that the CAC is going to continue to go higher. That being the case, the market breaking above the top of the candle, or the €4100 level essentially would have us buying as the CAC could bounce significantly at that point in time. On the other hand, if we break down below the €4000 level, the CAC will fall apart.
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.
