The French index started second leg of double three WXY correction with wave Y, which could hit 5140.
This level represents the equal distance of Y=W and also the 61.8% Fib (5166).
First off, please don't take anything I say seriously or as financial advice. As always, this is on opinion based basis and not meant to be taken seriously. That being said, let me get into my opinion. FR40 which is a French stock index for the Euronext Paris, have been hit pretty significantly as a result of Covid19 after being on a bullish recovery for almost a...
The French CAC40 has struggled to break above the resistance zone into all time new highs. The ECB has promised cutting rates further negative and more stimulus...we shall wait to see the developments, but so far the markets have already priced that in and sold off today after the announcement.
The CAC40 on the 4 hour shows 2/3 market trends. We had an uptrend...
Hi there. Price is forming a continuation pattern to the downside. Wait for the price to hit the top of the pattern and watch strong price action for sell.
Renko chart shows support, bouncing from it will send the value to the closest resistance with good gains on midterm-longterm.
Disclaimer:
This written/visual material is comprised of personal opinions and ideas. The content should not be construed as containing any type of investment advice and/or a solicitation for any transactions. It does not imply an...
Possibility to SHORT if breakdown of the trend line.
Possibility to LONG if no break down of the support line.
Possibility to go SHORT if reaches the resistance line.
I am a new trader, any thought on the current situation? :)
