Technical forecast for Eurostoxx

Euro Stoxx headed higher as expected but beat our upper resistance at 2702/07 to top at 2719. A sharp sell off followed & we have support at 2678 then 2668/65 for a buying opportunity today. Exit shorts & try longs from here down to the gap at 2659 with a low for the day expected but we need stops below 2647.

Back above 2702 is more positive & the daily chart is quite bullish so we would be looking for a retest of yesterday’s high at 2719 with a break higher very possible. Next target is 2730/34 & we should struggle here today.

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. has established itself as the leading provider of... More