SX5E: technical analysis
25 January 2019, 10:13
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | BUY |
| Entry Point | 3144.7 |
| Take Profit | 3185.0, 3205.0, 3220.0 |
| Stop Loss | 3105.0 |
| Key Levels | 2985.0, 3010.0, 3090.0, 3185.0, 3205.0, 3220.0 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 3090.0 |
| Take Profit | 3010.0, 2985.0 |
| Stop Loss | 3135.0 |
| Key Levels | 2985.0, 3010.0, 3090.0, 3185.0, 3205.0, 3220.0 |
SX5E, D1
On the daily chart, the instrument is trading in the upper Bollinger band. The price remains just above the EMA65, EMA14 and below the EMA130 and SMA200 that are directed down. The RSI is testing its quite strong resistance. The Composite keeps forming a Bearish divergence with the price.
SX5E, H4
On the 4-hour chart, the instrument is trading on the upper line of the Bollinger Bands. The price remains slightly above its moving averages that start turning up. The RSI is about to retest the border of the overbought zone. The Composite is growing, having broken out its longer MA.
Key levels
Support levels: 3090.0 (local lows), 3010.0 (local lows), 2985.0 (local lows).
Resistance levels: 3185.0 (local highs), 3205.0 (local highs), 3220.0 (local highs).
Trading tips
The upward correction is likely to continue in the short-term.
Long positions can be opened from current prices with targets at 3185.0, 3205.0, 3220.0 and stop-loss at 3105.0. Validity – 3-5 days.
Short positions can be opened from the level of 3090.0 with targets at 3010.0, 2985.0 and stop-loss at 3135.0. Validity – 3-5 days.
On the daily chart, the instrument is trading in the upper Bollinger band. The price remains just above the EMA65, EMA14 and below the EMA130 and SMA200 that are directed down. The RSI is testing its quite strong resistance. The Composite keeps forming a Bearish divergence with the price.
SX5E, H4
On the 4-hour chart, the instrument is trading on the upper line of the Bollinger Bands. The price remains slightly above its moving averages that start turning up. The RSI is about to retest the border of the overbought zone. The Composite is growing, having broken out its longer MA.
Key levels
Support levels: 3090.0 (local lows), 3010.0 (local lows), 2985.0 (local lows).
Resistance levels: 3185.0 (local highs), 3205.0 (local highs), 3220.0 (local highs).
Trading tips
The upward correction is likely to continue in the short-term.
Long positions can be opened from current prices with targets at 3185.0, 3205.0, 3220.0 and stop-loss at 3105.0. Validity – 3-5 days.
Short positions can be opened from the level of 3090.0 with targets at 3010.0, 2985.0 and stop-loss at 3135.0. Validity – 3-5 days.
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