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$CAC40 finding resistance at 8250 againI think its fair to say that the domestic French Political situation appears to be even more of a farce than here in the UK (and that's saying something). Has that also acted as a drag upon investors in France? The weekly chart of the CAC would say so. Once again we have failed to breakout of the 8250 level of resistance. This time we have printed a nice evening start pattern at that level. This would lead us to favour a move lower in the short term.
TVC:CAC40Short
by FXTraderPaul
USDHKD for me needs to get and hold above 7.8000This is for Carlos who requested I take a look at USDHKD on one of the recent Monday Market Updates. This weekly USDHKD chart shows the boundaries of the currency over the last few years as it moves between its upper boundary at 7.85, and its lower boundary at 7.75. Presently we've seen a grind north from the lower boundary this year and we're presently hitting the Feb 20 highs just underneath 7.80. For me, price needs t get above that 7.80 range and hold above it on the weekly chart for me to remain bullish. if it can do that then its next target would be in the 7.825 region. Watch the price action here to see if we break and hold the 7.80 level...or whether its rejected. Hope that helps Carlos!
Long
by FXTraderPaul