Day trade
Trade view / 28 July 2016 at 6:06 GMT

SEP'16 EUROSTOXX approaches bullish exhaustion

partner and technical analyst / 3 c analysis
United Kingdom
Instrument: EU50.I
Price target:
Market price:

Wednesday’s forecast was bullish and this was confirmed with gains of 39 points.

However, sellers have returned to the market above the psychological 3000 level which is also close to a weekly bear trend for sentiment to deteriorate and close little changed on the day.

A daily Shooting Star has been formed and this is negative for sentiment. Look to sell into rallies

Management and risk description

Sell the rally only and lower stop to entry if the 1st target is met


Entry: Sell at 3009, just below yesterday's high

3058, June's top

2980, just above Tuesday's close and 2903, last week's base

Time horizon:
Today only

Eurostoxx 8 hourly - pullback to gains
Eurostoxx Weekly - bear trend
Eurostoxx Quarterly - lower highs
 Source: All charts, CQG

— Edited by Adam Courtenay

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Non-independent investment research disclaimer applies. Read more
trading4fun trading4fun
very nice call steve, already worth of 30+pips. was already short from the yesterday morning, squared with small loss frustrated of nearly 4h price slalling and then it moved down but i was already out :) so it pannes well today
Steve Lucas Steve Lucas
pleased it helped...well done


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