EURO STOXX 50 index review | 17 Tháng mười một 2017

EURO STOXX 50 index review

Wave Analysis:

Despite breaking above 3683.3, this index pulled back lower than expected and lost almost 98% the value it gained last week. This is an extreme drop and indicates a possible rise in the number of sellers in this market. Thus, during this week, we expect further momentum to the lower side but only after a pullback to the upper side. If you're not short , you could wait for a clear breakout below the support line 3595.7, then pick a short position towards. As it is on the daily chart above, I advice waiting for a clear direction:

Trade Signal

Flat

Bitcoin retracing

Technical observation:

As I said on the previous analysis, Bitcoin pulled back downwards, and could still plummet this week. I expect further decline in price towards 5452.3 or even lower to 4864.73 where I'll be looking for a buy position. As it is on the daily chart above, only a buy position can be recommended but only after a bounce from the daily support zone 5452.3-4864.73. If this supportive zone can clearly be breached, then further decline towards 3337.97 is expected. My advice, remain flat fow now and only buy a bounce from 5452.3-4864.73 with your take profit at 7336.5.

Trade Signal.

Flat for now

ASX Review

Technical observation:

Last week, SP/ASX 200 index traded with an extreme bullish bias and even broke out above the resistance line 5995.1 with a big green candle. This a bullish dominance signal, and unless the price gets back below 5995.1 with big red candle, (similar to the one it broke above with), I expect a rise to the upper side with an ultimate target at 6135.3. In the meantime, I'm patiently waiting for a pullback to the just broken line to the pick a low risk buy position towards 6135.3. If you are not long already, you could wait for this pullback.

Trade signal

Wait and buy ASX around 5995.1 towards 6135.3

Imelda Maseno

Analyst of «FreshForex» company

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EURO STOXX 50 index review | 17 Tháng mười một 2017

Imelda Maseno

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