SX5E: technical analysis
14 September 2017, 12:11
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | BUY STOP |
| Entry Point | 3539.0 |
| Take Profit | 3551.0, 3588.0 |
| Stop Loss | 3527.0 |
| Key Levels | 3431.0, 3467.0, 3495.0, 3539.0, 3551.0, 3588.0 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 3495.0 |
| Take Profit | 3467.0 |
| Stop Loss | 3505.0 |
| Key Levels | 3431.0, 3467.0, 3495.0, 3539.0, 3551.0, 3588.0 |
SX5E, D1
On the daily chart, the instrument is trading on the upper line of the Bollinger Bands. The price remains above its moving averages that start turning up. The RSI is approaching the border of the overbought zone. The Composite is trying to turn down.
SX5E, H4
On the 4-hour chart, the instrument is trading in the upper Bollinger band. The price remains above its moving averages that are turning up. The RSI is leaving the overbought zone, having formed a Bearish divergence. The Composite is showing similar dynamics.
Key levels
Support levels: 3495.0 (local lows), 3467.0 (beginning of the week gap), 3431.0 (July lows).
Resistance levels: 3539.0 (July highs), 3551.0 (local highs), 3588.0 (April highs).
Trading tips
The price is about to test a strong resistance near 3539.0. Its breakout would lead to a growth continuation.
Long positions can be opened from the level of 3539.0 with targets at 3551.0, 3588.0 and stop-loss at 3527.0. Validity – 3-5 days.
Short positions can be opened from the level of 3495.0 with the target at 3467.0 and stop-loss at 3505.0. Validity – 3-5 days.
On the daily chart, the instrument is trading on the upper line of the Bollinger Bands. The price remains above its moving averages that start turning up. The RSI is approaching the border of the overbought zone. The Composite is trying to turn down.
SX5E, H4
On the 4-hour chart, the instrument is trading in the upper Bollinger band. The price remains above its moving averages that are turning up. The RSI is leaving the overbought zone, having formed a Bearish divergence. The Composite is showing similar dynamics.
Key levels
Support levels: 3495.0 (local lows), 3467.0 (beginning of the week gap), 3431.0 (July lows).
Resistance levels: 3539.0 (July highs), 3551.0 (local highs), 3588.0 (April highs).
Trading tips
The price is about to test a strong resistance near 3539.0. Its breakout would lead to a growth continuation.
Long positions can be opened from the level of 3539.0 with targets at 3551.0, 3588.0 and stop-loss at 3527.0. Validity – 3-5 days.
Short positions can be opened from the level of 3495.0 with the target at 3467.0 and stop-loss at 3505.0. Validity – 3-5 days.
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