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Euro Stoxx 50: Break Higher Targets 3045/50

Published 09/29/2016, 03:15 AM
Updated 07/09/2023, 06:31 AM
STOXX50
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Euro Stoxx 50 Weekly Forecast

Euro Stoxx 50 open above 3010 is obviously positive and targets 3015 then minor trend line resistance at 3025/28. This should be the main challenge for bulls today but a break higher targets 3045/50.

Back below 2995 risks a slide to 2979/75 before good support at 2960/55. A break lower today meets more important support at 2936/2930. We have Fibonacci support at 2928 just below so this should 8 tick area be good support as it was earlier this week. A break lower today however could then test the September low at 2908.

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