The Ibex as you can see gapped lower at the open on Wednesday, slicing below the €11,000 level. While this is a very negative turn of events, we are near
The Ibex as you can see gapped lower at the open on Wednesday, slicing below the €11,000 level. While this is a very negative turn of events, we are near a gap. Quite frankly, we think the buyers will come back into this market given enough time, but right now we have a Euro that is strengthening drastically. This is probably spooking some of the “weak hands” in the marketplace right now. We are waiting to see a supportive candle in order to start going long as we feel that the market will ultimately break out.
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.
