SX5E: technical analysis
04 September 2018, 11:11
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | SELL STOP |
| Entry Point | 3375.0 |
| Take Profit | 3340.0, 3310.0 |
| Stop Loss | 3395.0 |
| Key Levels | 3310.0, 3340.0, 3375.0, 3420.0, 3460.0, 3480.0 |
| Alternative scenario | |
|---|---|
| Recommendation | BUY STOP |
| Entry Point | 3420.0 |
| Take Profit | 3460.0, 3480.0 |
| Stop Loss | 3400.0 |
| Key Levels | 3310.0, 3340.0, 3375.0, 3420.0, 3460.0, 3480.0 |
SX5E, D1
On the daily chart, the instrument is trading in the lower Bollinger band. The price remains below its moving averages that are directed down. The RSI is falling towards the border of the oversold zone. The Composite is falling as well, having broken down its longer MA.
SX5E, H4
On the 4-hour chart, the instrument is trading in the lower Bollinger band. The price remains below its moving averages that start turning down. The RSI is turning up, having tested the border of the oversold zone. The Composite is testing from below its longer MA.
Key levels
Support levels: 3375.0 (local lows), 3340.0 (June lows), 3310.0 (local lows).
Resistance levels: 3420.0 (local highs), 3460.0 (local highs), 3480.0 (local highs).
Trading tips
The fall is likely to continue.
Short positions can be opened from the level of 3375.0 with targets at 3340.0, 3310.0 and stop-loss at 3395.0. Validity – 3-5 days.
Long positions can be opened from the level of 3420.0 with targets at 3460.0, 3480.0 and stop-loss at 3400.0. Validity – 3-5 days.
On the daily chart, the instrument is trading in the lower Bollinger band. The price remains below its moving averages that are directed down. The RSI is falling towards the border of the oversold zone. The Composite is falling as well, having broken down its longer MA.
SX5E, H4
On the 4-hour chart, the instrument is trading in the lower Bollinger band. The price remains below its moving averages that start turning down. The RSI is turning up, having tested the border of the oversold zone. The Composite is testing from below its longer MA.
Key levels
Support levels: 3375.0 (local lows), 3340.0 (June lows), 3310.0 (local lows).
Resistance levels: 3420.0 (local highs), 3460.0 (local highs), 3480.0 (local highs).
Trading tips
The fall is likely to continue.
Short positions can be opened from the level of 3375.0 with targets at 3340.0, 3310.0 and stop-loss at 3395.0. Validity – 3-5 days.
Long positions can be opened from the level of 3420.0 with targets at 3460.0, 3480.0 and stop-loss at 3400.0. Validity – 3-5 days.
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