stoxx updateindex is expecting to retrace toward trendline then continue its upward move toward 78.6% expansion of fibo level
please see big picture as below
About Euro Stoxx 50 Index
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).
Potential for a reversal ??we may be in a potential reversal setup at price action looks to complete an impulsive 5 waves.
weekly supply at 4369.71/4307.58.
I will be looking a decent reversal signal on the daily and looking to enter on any subsequent short positions on the lower timeframes
Global Recession is triggering As USA federal reserve government .. boost up another high rates.. this effects other big indices markets as well across the world.
The 4th time 75 basis points. This triggering global recession ad seems like it is coming. For EUSTX50 WILL DROP HARD .. should expect the bottom at 3000
If it doesn’t
Possible Sell OffAs it has been weakening for months already, we should expect a proper sell entry on pullback.
EUSTX50 Descending TrianglePrice closed below EMA 10, EMA 20, and Horizontal Support Resistance Level.
Eurstoxx lowerThe rising wedge off a strong rally Eurostoxx50 shows us that the momentum on the higher is declining and inability to push to higher highs as easily.
Market closed below support signalling to further bearishness in the market.
This is a good entry however a pullback is also likely
EUSTX50Long taken on EUSTX50. Broke past high after the vaccine news yesterday and have held so far. Price can hopefully continue up to the next level of past resistance.
EUROSTOXX 50: next week overviewPrice reacted very good to the 2925 impulse. Now we're expeting a push to the high.
3110 coul be a good level to short
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