Euro Stoxx 50 Forecast - April 1, 2020

Published 04/01/2020, 04:39 AM
Updated 07/09/2023, 06:31 AM
STOXX50
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Euro Stoxx 50 trades a range now, (rather than break higher for a buy signal) as expected. We sold off from first resistance at last week’s high of 2790/99 to our targets of 2720/15 & 2675/65. As I write we bottomed exactly here.

Euro Stoxx 50 range trading as we dip back to 2720/15 then 2675/65 before support at 2610/00. A break below 2590 meets good support at 2560/55.

Bulls need prices to hold above minor resistance at 2700/10 for a recovery to 2760/70 before very strong resistance at last week’s high of 2790/99. A break higher targets minor resistance at 2845/55. Be ready to buy a break above 2865 targeting 2890/99, 2925/35 & 2960/70.

Trends

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

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