Global markets are turning to bearish due to Trump's tariff twitter. For short, I believe Eurostoxx 50 is a nice object today. A strong bearish bar has broken the structure. Just wait for a step-back opportunity and sell it.
Entry: 3475
Stop: 3516
TP1: 3434 (We can trail it for more profit.)
I don't say it is something to short, but it is certainly not a good risk/reward to buy or stay long in Eurostoxx50 at these levels.
Weekly parameters:
- Ichimoku setup is neutral.
- EWO is back to neutral
- Heikin-Ashi candle is still bullish, but haOscillator shows an early warning signal of a possible momentum loss ahead in coming weeks.
- Price reached a very...
Monitoring the pullback, possibly to the 50% fib.
Look to short if price resists the resistance area shaded. Previous support area on the daily chart.
Await for the ADX above 25 and stoch to confirm downword momentum again.
Now on a downtrend <daily chart- keeping with the overall trend.
- Bullish trend is broken
- Ichimoku setup is bearish, EWO and MACD are bearish
- HaOscilator suggests there may be some chance for a minor bounce. Chikou Span also hit past Kumo bottom, which means around 3480 there is some resistance. Any retest to 3520-3560 zone is an opportunity to look for a short entry.
I can see a potential Long setup for EUSTX50 index. Couple of things that I observed:
1. Price is currently retesting EMA(200) and this is also a resistance-turned-support zone (back in April 2017).
2. A divergence observed between the chart and RSI(14), as chart is making lower low, whereas RSI(14) is making higher low.
If price can close around 3530 (which I...
- Ichimoku is back to neutral. Price trades in thick Kumo. Warning: Senkou span cross (bearish Kumo twist) 26 weeks ahead!
- Heikin-Ashi shows mixed price action, indecision, consolidation. Warning: haDelta+ and haOscillator may give sell signals.
- MACD shows weakness
- EWO is bearish
I think bulls cannot have much hope on this market now.
Sinewave and Momentum are both having hard time to trigger signals here because of ECB press conference stimulus that has driven sharp and faster price movements. Anyway 3641 is a key level that I had on my charts for weeks.
We're testing it and as it corresponds to the final wave of a potential expanding triangle structure, that would be a shame not trade it and...
The EUSTX50’s underlying instrument is the Euro Stoxx 50 Future. The Euro Stoxx 50 is an index of European listed shares designed by Stoxx Ltd, an index provider owned by Deutsche Börse and SIX Group and contains the largest companies in Europe (i.e. Allianz, Deutsche Bank, Inditex, Repsol, Unilever).
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