IEV Europe broke down from 50, a previous top several times. If it will not reclaim 50 next week, it may go down again to retest the previous breakout from a BIG 2007 triangle at around 45, which is also the
FIBO 0.382 level. If 45 will not hold, then the FIBO 0.618 at around 40 will be the ultimate low.
Not trading advice
IEV retraced half of the distance between 50 & 35. (Resistance & support)
It made a very long hammer in this monthly chart, bounced off cloud, ma100 & & then
crossed over ma50 to stop at ma20 which is also the mid of upchannel. (All in a single candle)
It also came down & retested the BIG TRIANGLE from 2007.
A safer entry is to wait for ma20 cross & hold 50 for a...
The European equity index is a tough one to analyses. The index has had a strong recovery, however, there are still structural headwinds that the EU faces. Interest rates in the EU zone are unlikely to rise anytime soon whilst the Euro is likely to be deflationary going forward.
The trading signals suggest that the index has reached a high point and needs a...
I spy an inverse H&S pattern. Bullish on Europe. Technicals look good. Check out my blog for more information. klendathucapitalist.com
klendathucapitalist.com
Today I’m looking at the chart for IEV - the iShares Europe ETF. European stocks have been performing quite well due to the asset purchase program the European Central Bank announced earlier this year. This has driven yields on European debt into the negative, forcing investors to search for value elsewhere. Equities have been the beneficiary of this new inflow...
