The Parisian index fell during the course of the day on Wednesday, but still is above the recent support level. Nonetheless, we are definitely at an area
The Parisian index fell during the course of the day on Wednesday, but still is above the recent support level. Nonetheless, we are definitely at an area where the buyers have to step been in order to protect any hope of bullishness. If we break down below the 4100 level though, we feel that the market will then fall apart and head towards the €4000 handle. A supportive candle in this area is a reason to start buying, as the market should then go to the €4300 level. We have no interest in making a trade into we get a daily candle that tells us which way to go.
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.
