Short term
Trade view / 04 July 2016 at 6:16 GMT

Watch for SEP'16 EuroStoxx corrective bounce to continue, for now

partner and technical analyst / 3 c analysis
United Kingdom

Similar to the Dax, initial losses attracted EuroStoxx buyers back to the market last week from close to the previous week’s three year base at 2,645, for sentiment to rally by 232 points from the low.

The market has posted five higher daily lows in a row keeping signals pointing higher. However signals also suggest the move is corrective and temporary, so the call is held with some caution.

Management and risk description

Allow room to buy a dip and raise stop to entry if the first target is met.


Entry: market and 2802, Thursday's low.

Stop: 2710, the window which remains open since Monday's close.

Target: 2976, the June 23 low and 3,058, June's top.

Time horizon: This week until midday on Friday (1100 GMT).

Eurostoxx Weekly - volatile

Eurostoxx Quarterly - lower highs

Charts: CQG. Create your own charts with SaxoTrader; click here to learn more. 

— Edited by Robert Ryan

Non-independent investment research disclaimer applies. Read more
06 July
trading4fun trading4fun
steve, could you pls update the call, especially after todays decline going into NFP?
06 July
Steve Lucas Steve Lucas
This is a weekly call and is long and wrong - if you look at trademaker i was short on Tuesday and today which has alleviated the pain....Still long and wrong on the week...nothing to update, staying long, but wilol close before payroll, as you can see in the text.
06 July
trading4fun trading4fun
tks steve, your insight appreciated, as always


The Saxo Bank Group entities each provide execution-only service and access to permitting a person to view and/or use content available on or via the website is not intended to and does not change or expand on this. Such access and use are at all times subject to (i) The Terms of Use; (ii) Full Disclaimer; (iii) The Risk Warning; (iv) the Rules of Engagement and (v) Notices applying to and/or its content in addition (where relevant) to the terms governing the use of hyperlinks on the website of a member of the Saxo Bank Group by which access to is gained. Such content is therefore provided as no more than information. In particular no advice is intended to be provided or to be relied on as provided nor endorsed by any Saxo Bank Group entity; nor is it to be construed as solicitation or an incentive provided to subscribe for or sell or purchase any financial instrument. All trading or investments you make must be pursuant to your own unprompted and informed self-directed decision. As such no Saxo Bank Group entity will have or be liable for any losses that you may sustain as a result of any investment decision made in reliance on information which is available on or as a result of the use of the Orders given and trades effected are deemed intended to be given or effected for the account of the customer with the Saxo Bank Group entity operating in the jurisdiction in which the customer resides and/or with whom the customer opened and maintains his/her trading account. When trading through your contracting Saxo Bank Group entity will be the counterparty to any trading entered into by you. does not contain (and should not be construed as containing) financial, investment, tax or trading advice or advice of any sort offered, recommended or endorsed by Saxo Bank Group and should not be construed as a record of ourtrading prices, or as an offer, incentive or solicitation for the subscription, sale or purchase in any financial instrument. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, would be considered as a marketing communication under relevant laws. Please read our disclaimers:
- Notification on Non-Independent Invetment Research
- Full disclaimer

Check your inbox for a mail from us to fully activate your profile. No mail? Have us re-send your verification mail