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Euro Stoxx Daily Forecast - July 7, 2020

By Jason SenStock MarketsJul 07, 2020 06:12AM ET
www.investing.com/analysis/eurostoxx-daily-forecast--07-jul-2020-200529936
Euro Stoxx Daily Forecast - July 7, 2020
By Jason Sen   |  Jul 07, 2020 06:12AM ET
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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
EuroStoxx Chart

Trends

  • Weekly outlook is positive
  • Daily outlook is neutral
  • Short Term outlook is neutral
Euro Stoxx Daily Forecast - July 7, 2020
 

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Euro Stoxx Daily Forecast - July 7, 2020

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Comments (1)
Steen Pagan
Steen Pagan Jul 07, 2020 6:16AM ET
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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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