Euro Stoxx Daily Forecast - July 7, 2020
Jason Sen | Jul 07, 2020 06:12AM ET
Euro Stoxx 50 September Futures beat first resistance at last week’s high of 3314/18 and strong resistance at 3330/40 but with the stop above 3360, perhaps shorts were saved before we dipped to 3314/18.h3 Today’s Analysis/h3
Euro Stoxx holding first support at 3318/14 tests strong resistance at 3335/55. Shorts need stops above 3365!! A break higher is a buy signal, of course, initially targeting more minor resistance at the June high at 3388/94. A break above here is another buy signal.
First support at 3318/14 but below 3308 risks a slide to 3290/80, perhaps as far as 3264/60. A buying opportunity at 3250/40, with stops below 3225.
- Weekly outlook is positive
- Daily outlook is neutral
- Short Term outlook is neutral
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