The Parisian index initially tried to rally during the session on Wednesday, but found the €4440 level be a bit too resistive. The resulting action had
The Parisian index initially tried to rally during the session on Wednesday, but found the €4440 level be a bit too resistive. The resulting action had the market dropping down to the €4360 level, an area that has been supportive. Because of this, we feel that the market is essentially grinding sideways in consolidation, therefore we are looking for some type of supportive candle in order to start going long. We believe that there is massive amounts of support below, especially at the €43,000 level and the €42,000 level. Because of that, we have no interest in selling.
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.
