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Euro Stoxx Daily Forecast - July 7, 2020

Published 07/07/2020, 06:12 AM
Updated 07/09/2023, 06:31 AM

Euro Stoxx 50 September Futures beat first resistance at last week’s high of 3314/18 and strong resistance at 3330/40 but with the stop above 3360, perhaps shorts were saved before we dipped to 3314/18.

Today’s Analysis

Euro Stoxx holding first support at 3318/14 tests strong resistance at 3335/55. Shorts need stops above 3365!! A break higher is a buy signal, of course, initially targeting more minor resistance at the June high at 3388/94. A break above here is another buy signal.

First support at 3318/14 but below 3308 risks a slide to 3290/80, perhaps as far as 3264/60. A buying opportunity at 3250/40, with stops below 3225.

EuroStoxx Chart

Trends

  • Weekly outlook is positive
  • Daily outlook is neutral
  • Short Term outlook is neutral

Latest comments

expecting 3280 sir to come down..now at 3303..may be little down 3280 or 3290..but 3300 is going to be one of the major support if price goes up today..thanks a lot sir..always stay safe and healthy🙏🙏🙏🙏👍👍👍
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