CAC40 still in the red YTD. The index has not closed end-of-week above 2016 opening level at 4563.75. A major resistance with very attractive risk-reward ratio.
The key consideration is that green zone I drew over there as well as the two question marks ?? right below. This green zone is a support.
Price action is a treasure trove about the trend of a currency pair and what the market feels about it i.e. market sentiment. USDJPY example.
Follow Gold price action as we look at its weekly performance, market sentiment. Also I propose 1 red line that may explain gold movement.
Price now > open price, market sentiment is bullish. Price now < open price, market sentiment bearish. Gold now bullish but Silver not.