The Parisian index fell during the open on Thursday, dropping all the way down to the €3800 handle. We bounced enough to form a nice-looking hammer just
The Parisian index fell during the open on Thursday, dropping all the way down to the €3800 handle. We bounced enough to form a nice-looking hammer just below the €4000 level though, and at this point time we could see the market bounce. However, we need to get above the €4100 level in order to feel that we have cleared that resistance, which is the signal that we would use to start buying. At that point time, we would more than likely head to the €4500 level. On the other hand, if we break down below the bottom of the hammer, this would be a massively bearish sign.
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.
