EuroStoxx Daily Forecast: Increasing To The Downside
Jason Sen | Feb 02, 2015 08:27AM ET
EuroStoxx risks increasing to the downside for this week with 3365/67 the key. Failure to beat this resistance at re-targets 3345/43 then good support at 3328/23. If this does not hold the downside however we should test last week's low at 3310/3309 and obviously a break below here would trigger more selling pressure to target 3295/94. Any further losses meet very strong support at 3265/60.
A break above 3367 is more positive for today at least & could target resistance at 3589/90. We could try shorts with stops above 3405 but above here targets 3419/20 then 3430 highs. Try shorts with stops above 3438. However a break higher is obviously positive this week & targets & 3472/74. Any further gains meet important strong, longer term, Fibonacci resistance at 3520.
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