Technical forecast for Eurostoxx

eurtoxx

Euro Stoxx failed at 2725/29 resistance & took a huge tumble breaking 2669/65 to bottom at 2648. If we continue lower today we meet very good support at 2638/32 which should offer a good buying opportunity with the 200 week moving average at 2625 so we need stops below 2620.

If we can hold 2670/65 we meet trend line resistance at 2695/99 but above 2710 could signal
further gains to 2725/29. A high for the day is likely here but a break higher could target
2748/50 & possibly 2768/72.

Jason Sen began his career in the options pits on the trading floor of LIFFE in 1987 at the age of 19, making markets on his own account. In 2001 when the trading floor closed he successfully made the transition to day trading on computer screens. Jason always had an interest in technical analysis throughout his trading career but began to study this area in depth from 2006. www.daytradeideas.com has established itself as the leading provider of... More