CAC 40 is holding above 5000 mark on reduced Frexit fears
|CAC 40
The index is at the front foot on Tuesday when it opened higher, as sentiment improved after French presidential candidate Macron won the first TV debate, sidelining fears from far-right candidate Le Pen's victory that could lead France towards exit from the EU. Bullish technical studies remain supportive, as the price remains above psychological 5000 level and eyes target at 5035 (16 Mar peak, the highest traded since mid-Jun 2015). Rising daily 10SMA that tracks the rally since early Feb, offers initial support at 4994, followed by plethora of supports formed by 20/30/55 SMA's at 4958/4928/4892 respectively and thick 4-hr Ichimoku cloud (spanned between 4977 and 4912). Any break below 4900 handle could be considered as strong bearish signal.
Res: 5025; 5035; 5050; 5095
Sup: 5009; 4994; 4958; 4928
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.