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.
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.
