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(FR40) Index to hit 4600 EUR Pretty SoonFirst 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 year prior. Now, as the markets are weighting in and people are starting to "panic sell less", I believe it is about to pass the 4600 euro threshold and likely to go on a stable price recovery trend. The 4600 EUR threshold crossing is likely within a week or so at most, but the recovery process is more of a long afterwards.
FShort
by gamer456148
CAC 40: Very strong long term upside potential. 6700 on sight.CAC is quite strangely printing on the big 1W/1M time frames a similar trading pattern with the early - mid 90s. The MA50/200 sequence is identical within a Channel Up with two distinct peaks that broke the Channel momentarily before testing again the supporting trend line. What stands out in particular is the +46.50% rebound from the first Higher Low on both cycles. What follows after is a giant Inverse Head and Shoulders pattern, which gave rise to the second peak outside the Channel Up. CAC40 is currently on that Inverse Head and Shoulder pattern attempting to price the Right Shoulder. With such striking similarities it is only natural to assume that the current cycle will follow to a large extent the 90's cycle. Which means that after the Inverse Head and Shoulders is completed a +49.50% rise may follow (second peak outside the Channel) bringing the index close to 6,700. This is our long term target for CAC and the candle action times this by March 2020. After that the final Higher Low takes place which should pave the way for the new hyper aggressive cyclical bull market similar to the late 90s - 2000. ** If you like our free content follow our profile (www.tradingview.com) to get more daily ideas. ** Comments and likes are greatly appreciated.
TVC:CAC40Long
by InvestingScope
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