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Euro Stoxx: Forecast For February 12, 2015

Published 02/12/2015, 01:56 AM
Updated 07/09/2023, 06:31 AM

Euro Stoxx Weekly Chart

Euro Stoxx key to direction is 3385/80. Holding above here targets this week's high at 3404 then 3415 and perhaps as far as a retest of 3427/3430 highs. Try shorts with stops above 3438. However a break higher is obviously positive and targets and 3472/74, then important strong longer term, Fibonacci resistance at 3520.

Failure to hold 3385/80 targets 3365/62. Longs need stops below 3355 for a move towards good support at 3328/23. Longs need stops below last January lows at 3310/3309. Obviously a break below here would trigger more selling pressure this week to target 3295/94 and perhaps as far as strong short term support at 3265/60. Try longs with stops below 3250.

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