Get 40% Off
⚠ Earnings Alert! Which stocks are poised to surge?
See the stocks on our ProPicks radar. These strategies gained 19.7% year-to-date.
Unlock full list

EuroStoxx Daily Forecast: Increasing To The Downside

Published 02/02/2015, 08:27 AM
Updated 07/09/2023, 06:31 AM

EuroStoxx Weekly Chart

EuroStoxx risks increasing to the downside for this week with 3365/67 the key. Failure to beat this resistance at re-targets 3345/43 then good support at 3328/23. If this does not hold the downside however we should test last week's low at 3310/3309 and obviously a break below here would trigger more selling pressure to target 3295/94. Any further losses meet very strong support at 3265/60.

A break above 3367 is more positive for today at least & could target resistance at 3589/90. We could try shorts with stops above 3405 but above here targets 3419/20 then 3430 highs. Try shorts with stops above 3438. However a break higher is obviously positive this week & targets & 3472/74. Any further gains meet important strong, longer term, Fibonacci resistance at 3520.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.