Euro Stoxx 50 Daily Forecast - April 7, 2020

Published 04/07/2020, 03:57 AM
STOXX50
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Euro Stoxx 50 unexpectedly shot higher to beat resistance at 2720/30 and then strong resistance at the recovery swing high at 2788/99.

Euro Stoxx bulls obviously want prices to hold above 2788/99. A break above the 2815 high targets 2830 then resistance at 2855/60. This is the best chance of a high for the day. A break above 2880 A break higher targets 2895/2900 and 2825.

A break below 2765 risks a slide to 2735 with a buying opportunity at 2700/2680. Stop below 2670. A break lower is a sell signal.

Trends

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

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