SX5E: technical analysis
17 January 2019, 10:18
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | SELL |
| Entry Point | 3052.1 |
| Take Profit | 3005.0, 2965.0, 2920.0 |
| Stop Loss | 3100.0 |
| Key Levels | 2920.0, 2965.0, 3005.0, 3100.0, 3145.0, 3205.0 |
| Alternative scenario | |
|---|---|
| Recommendation | BUY STOP |
| Entry Point | 3145.0 |
| Take Profit | 3205.0 |
| Stop Loss | 3100.0 |
| Key Levels | 2920.0, 2965.0, 3005.0, 3100.0, 3145.0, 3205.0 |
SX5E, D1
On the daily chart, the instrument is trading in the upper Bollinger band. The price remains below the EMA65, EMA130 and SMA200 that are directed down. The RSI is turning down, having failed its recent resistance. The Composite is testing from above its longer MA.
SX5E, H4
On the 4-hour chart, the instrument is trading in the lower Bollinger band. The price remains on the level with the EMA14, EMA65 and EMA130 and below the SMA200 that are directed horizontally. The RSI is falling, having broken down its longer MA. The Composite is showing similar dynamics.
Key levels
Support levels: 3005.0 (local lows), 2965.0 (local lows), 2920.0 (local lows).
Resistance levels: 3100.0 (November 2018 lows), 3145.0 (local highs), 3205.0 (local highs).
Trading tips
The fall is likely to continue.
Short positions can be opened from current prices with targets at 3005.0, 2965.0, 2920.0 and stop-loss at 3100.0. Validity – 3-5 days.
Long positions can be opened from the level of 3145.0 with the target at 3205.0 and stop-loss at 3100.0. Validity – 3-5 days.
On the daily chart, the instrument is trading in the upper Bollinger band. The price remains below the EMA65, EMA130 and SMA200 that are directed down. The RSI is turning down, having failed its recent resistance. The Composite is testing from above its longer MA.
SX5E, H4
On the 4-hour chart, the instrument is trading in the lower Bollinger band. The price remains on the level with the EMA14, EMA65 and EMA130 and below the SMA200 that are directed horizontally. The RSI is falling, having broken down its longer MA. The Composite is showing similar dynamics.
Key levels
Support levels: 3005.0 (local lows), 2965.0 (local lows), 2920.0 (local lows).
Resistance levels: 3100.0 (November 2018 lows), 3145.0 (local highs), 3205.0 (local highs).
Trading tips
The fall is likely to continue.
Short positions can be opened from current prices with targets at 3005.0, 2965.0, 2920.0 and stop-loss at 3100.0. Validity – 3-5 days.
Long positions can be opened from the level of 3145.0 with the target at 3205.0 and stop-loss at 3100.0. Validity – 3-5 days.
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