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.
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.
