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
Instrument: EU50.I
Price target:
Market price:

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
trading4fun trading4fun
steve, could you pls update the call, especially after todays decline going into NFP?
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.
trading4fun trading4fun
tks steve, your insight appreciated, as always


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