The Parisian index fell during the session on Thursday, but found enough support as all European indices did in order to form a nice-looking hammer.
The Parisian index fell during the session on Thursday, but found enough support as all European indices did in order to form a nice-looking hammer. Because of this, we believe that the €4180 level being broken to the upside should send this market much higher, probably heading to the €4500 level, which was the massive resistance barrier previously. We believe that you can continue to buy dips in this market going forward, and as a result we have no interest whatsoever in selling this market. Ultimately, we believe that we have formed a significant bottom near the €4000 handle.
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.
