FRA40 trade ideas
FR40EUR is close to the Mirror Level!The trend is bullish now! If the price will cross the level and fix above we can trade buy position!
But don't rush with it because it can bounce temporarily.
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CAC40 - Selling rallies near the wedge top FRA40 - Intraday - We look to Sell at 5160 (stop at 5210)
Buying pressure from 4940 resulted in all the initial daily selloff being recaptured. Buying posted in Asia. Bespoke resistance is located at 5165. The trend of higher highs is located at 5172. Preferred trade is to sell into rallies.
Our profit targets will be 4885 and 4850
Resistance: 5162 / 5165 / 5230
Support: 4885 / 4800 / 4682
Breaking the channelI suppose that the peak has been found after the COVID rally and maybe after the downturn, the correction is over. The corrective rising channel is about the break. Further decline should come beside not to intact the level of 5130!
FRA40 IS HEADING TO THE UPSIDEHigher highs break off structure support becomes resistance Bulls rull
CAC 40 : Swing, Investment 100% Price ActionCAC 40 : Follow the uptrend.
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France index will go upToday, the central bank of France has announced the bouncing of the economy is occurring faster than earlier forecast. Technically, the price is at the earlier resistance level and will bounce off from here.
Wait for confirmation before entering in any trading (Price action confirmation)
Please trade carefully and do not risk more than what you can afford (1% of Maximum).
Disclaimer : This is just an analysis of the trend, the price can move in both ways so please, don't consider it as 100% correct signal.
France's CAC40 This has been fun going through the different markets because I see hybrids between various price actions. This market is a little difficult to settle on. I like this bear flag on the local scale. The last couple of days almost makes it look like it wants to go up again to retest that upper channel, but considering how bearish the other markets look, I doubt that will happen. And I have circled a similar "scoop" from a few weeks ago that promptly reversed and went lower.
The intermediate chart looks much like the Dow, and Dax. Look for that broadening pattern to be retested and to ultimately fail.
Long-term chart is weird. Just imagine having gone nowhere in price for thirty years. Oy. That's something we're just not accustomed to here in the States. That said, this huge triangle could go either way. It will almost certainly retest the lower orange channel.
CAC40 (France) - choppy to bearish - what’s next? CAC40 (FCHI - France) has completed B wave in complex correction as wxy within ABC zigzag down cycle in 1 hr time frame. The C wave down has just begun, but wait for 2nd wave pull back to get in to trade with invalidation level of 5074. The target zone will be 4550 level. In weekly time frame It has completed (A)(B)(C) flat wave from high made in 2018. The high made in 2020 was irregular (B) wave. It is moving within corrective cycles, which is little hard to predict with ease.
France 40 SELL SOON market going under fear for uncertainty and all market downside.
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Long term view on CACCluster of resistances and these resistances are strongs ! Time to short on daily time frame...
IT40 Index (FTSE MIB) - You know where it goes up or down ? IT40 Index (FTSE MIB - Italy) has completed B wave within ABC zigzag down cycle, which is zigzag with smaller c subwave, which resulted in sharp drop. It is within C wave down, where 3rd subwave of C is in progress. Price must stay below 19548 level to validate the count. In weekly time frame, it is choppy after ABC correction ends at last low and new cycle WXY correcting now, where X wave down is under progress. IT40 is weaker index within European market as well as global indices.
France CAC 40 Short Update Added additional short shares borrowed to $CAC40 after today's PMI number's it's clear that the Euro-zone is showing macroeconomic symptoms not seen here in the U.S.
13:20:20 (UTC)
Tue Jun 23, 2020
