Euro Stoxx July 22 Forecast
Jason Sen | Jul 22, 2020 02:47AM ET
Euro Stoxx 50 September Futures beat 3400 for another buy signal targeting 3413/16 and 3330/34. However, we unexpectedly collapsed from 3445 losing all the gains and more as we hit 3373.h3 Today’s Analysis/h3
Euro Stoxx reacts to overbought conditions but I think we stick to buying into weakness until we get a strong sell signal. Bulls should be waiting in the wings with first support at 3370 but probably a better buying opportunity at 3353/50. Longs need stops below 3335. A break lower meets a buying opportunity at 3295/85, with stops below 3270.
Minor resistance at 3395/05 but above here is more positive targeting 3420/25 and the 3440/45 high. A break higher can test the March high at 3463/37.
h3 Trends/h3- Weekly Outlook Positive
- Daily Outlook Positive
- Short Term Outlook Neutral
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