SX5E – Going to the top
Updated
Euro Stoxx 50 is a leading blue-chip index for the Eurozone, providing a representation of the leaders in the region. The index covers 50 stocks from 8 European countries.
Technically, following the coronavirus crash in February-March 2020, the price has formed an uptrend that we think will reach the resistance area of 3840-3880. If the price corrects deeper before going to the top, the targets for continuation are the 3400 rectangular area and the blue trendline that connects the low of March 2020 with the retracement of October 2020.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
Technically, following the coronavirus crash in February-March 2020, the price has formed an uptrend that we think will reach the resistance area of 3840-3880. If the price corrects deeper before going to the top, the targets for continuation are the 3400 rectangular area and the blue trendline that connects the low of March 2020 with the retracement of October 2020.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
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Disclaimer
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