Technical forecast for Eurostoxx

Euro Stoxx Sep13 edged higher to 2673 but failed to make a sustained break above 2670 so we still have an eye on the head & shoulders topping pattern forming. We are overbought short term so only a sustained break above 2670 sees 2685/87 & possibly a move towards very strong resistance at 2709/12 for a selling opportunity.

More likely is a drift lower to 2640 then Fibonacci support at 2630. A low for the day is possible here but longs need stops below 2623 for a test of the next support at 2602 & a buying opportunity.