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The Asia-Pacific session saw investors step in to pull the Nikkei 225 index out of a week of declines in which it briefly breached the 22,000 level. EURUSD, meanwhile, continues to look robust despite a lack of support from other major dollar pairs.
Day trade
Trade view / 27 July 2016 at 6:59 GMT

Making sense of recent movements in Eurostoxx

partner and technical analyst / 3 c analysis
United Kingdom
Instrument: EU50.I
Price target:
Market price:
Background
Tuesday’s bearish signals were confirmed with initial losses of 26 Pts. However, the dip has been bought, sentiment recovering to close little changed on the day, the 2nd unchanged daily close in a row. Bulls are cautious with futures trading close to their 100 day average rate and ahead of a weekly bear trend, but pullbacks continue to attract buyers and this is the dominating trend for signals. 

Management and risk description
Buy the dip only and raise the stop to the entry point if the 1st target is met

Parameters

Entry: buy at 2955
Stop: 2928, last Wednesday's low
Target: 3010, the weekly bear trend and 3050, the 23rd June close
Time horizon: today only


Source: CQG Create your own charts with Saxo Trader click here to learn more

Eurostoxx 4 hourly - pullback to gains
 Source: CQG

Eurostoxx Weekly - bear trend
 Source: CQG

Eurostoxx Quarterly - lower highs
 Source: CQG

— Edited by Clemens Bomsdorf

Non-independent investment research disclaimer applies. Read more
1y
Steve Lucas Steve Lucas
Update - take some profit, raise stop to entry

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