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EuroStoxx 50 Daily Forecast - Dec 31, 2019

Published 12/31/2019, 02:07 AM
Updated 07/09/2023, 06:31 AM

Euro Stoxx less than positive Doji in overbought conditions triggered more significant losses than expected. We broke first support at 3755/45 but held a tick above the next support at 3720/10

Euro Stoxx hit and held support at 3720/10. Stop below 3700. A break lower targets 3690 and 3675 with a buying opportunity at 3565/55.

Longs at 3720/10 target 3740/43 and resistance at 3752/56. Shorts need stops above 3760 to re-target 3786/90 then 3798/3802.

Trends

Weekly outlook is positive

Daily outlook is positive

Short Term outlook is neutral

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