SX5E trade ideas
Key level for Eurostoxx50 index - at 5 year highEurostoxx 50 has been on a very strong run. Key level being tested on the 5 year weekly chart. The index has already reached a 5 year high but if can break and hold above the resistence line at 3705 it could head up 3824 and anything above that would be the high going all the way back to May 2008
"EuroStoxx moved exactly as expected" by ThinkingAntsOk4H Chart Explanation: "What happened?"
- Price broke the Descending Trendline.
- It started its up move after bouncing on the Support Zone .
- There was a Bearish Divergence on MACD .
- Price reached our target on the Resistance Zone first. After that, it faced a correction towards the Support Zone .
Now, we are waiting to see a new clear setup. Updates coming soon!
Weekly Vision:
Daily Vision:
EUROPE50 STOXX Index SHORT - divergence and momentum resistanceAfter the sharp rise it has slowed down and we can see more bearish bars on the chart. This has also created a divergence on the RSI. The loss of momentum has established a momentum resistance around 65 on the RSI which price doesn't seem to be able to push through and the 9EMA on the RSI has caught up with the signal line.
All this suggest a technical reversal which maybe will re-test the MA200 support.
"EuroStoxx: at an important Resistance Zone" by ThinkingAntsOkDaily Chart Explanation:
- Price bounced from the Support Zone and went towards the Resistance Zone where it is now.
- Bearish Divergence on MACD.
- If price starts its down move from here, it has potential to go towards the Support Zone one more time.
- We are looking for sell setups on lower timefremes.
Weekly Vision:
Updates coming soon!
Euro Stoxx 50 - 240 - Struggling with the upsideTrade idea.
After last week's heavy slide, the index is trying to recover somewhat, but it has got a few strong barriers to overcome first. If it struggles to move back above the 3500 barrier, we may see another round of selling, possibly bringing the price back to the 200-day EMA, or even below that. For now, we remain cautiously-bearish.
Please see the chart for levels, targets and the alternative scenario.
Don't forget your stop-loss.
