Bullish momentum is present on France 40 Index. We can expect other Euro pairs to go up as well as the indexes show good bullish signs.
NOW TRADING AROUND SUPPORT REGION 5250 - 5300 TWO TARGETS SET 5420 AND 5500
Small trade for the week 10 - 14 Sep. TL broken, divergence on RSI & MACD On MA(21). Move SL to break-even once 1:1 R/R is hit.
It seems a good moment, let's see how it works
At the moment I think we are nearing the peak of France 40's uptrend. As you can see by the ADX the trend is strong however we can look at the RSI and see that it is currently being overbought, this mixed with the fact that we are at a key point of resistance indicates to me that we are about to see a dive in the price. If we can push through this resistance level...
Bullish on equities correction should end soon. If not here we will look for entry levels lower. RSI oversold with divergence.
On the 24th April the CAC 40 made a huge gap up, from 5050 to 5260. An incredible 4%. In fact it is the largest gap we can see historically as far back as 2008. Gaps, as trades know, 'always' get filled. Statistically its more like 90% of the time. Whether bullish or bearish on the European reflation story, this trade is the same.. French stocks are likely to...