The Ibex went back and forth during the course of the day on Wednesday, testing the 10,000 handle. Ultimately, we feel that this market will continue to
The Ibex went back and forth during the course of the day on Wednesday, testing the 10,000 handle. Ultimately, we feel that this market will continue to grind sideways, so therefore we are not interested in trading it. However, if we get above the €10,300 level, we would be buyers as we would not only be filling the gap, but also breaking above it. With that, we would anticipate this market is going to try to get towards the €11,000 handle given enough time. Until then, we are simply sitting on the sidelines as choppiness will probably be the norm.
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.
