The Milanese exchange fell hard during the course of the day on Thursday, losing 4% roughly. That being the case, the market sliced through the 20,300
The Milanese exchange fell hard during the course of the day on Thursday, losing 4% roughly. That being the case, the market sliced through the 20,300 support level, and it now appears that the market is going to continue falling, because not only did we break through that level, but we also broke through 20,000 which of course is much more significant from a longer-term perspective. Because of this, we will continue to sell rallies every time it happens, at least on short-term charts. We have no interest in buying at the moment, but will keep an eye on longer-term charts in order to determine if the trend and heads back to the upside.
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.
