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.
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.
