Following yesterday’s turbulence in the financial markets and fall in the world stock indices, including European index EUROSTOXX50, today, indices have regained the losses and are traded in the positive zone.
On the daily chart the price of EUROSTOXX50 has already broken down resistance levels of 2995.0 (ЕМА50), 3010.0 (Fibonacci 38.2% and the upper limit of the descending channel) and continues to rise to 3110.0 (Fibonacci 50%), 3150.0 (ЕМА144) and 3200.0 (ЕМА200 and Fibonacci 61.8%).
In the four-hour chart the price has broken the upper line of the trend and the moving average line ЕМА200 and is going up in the ascending channel with the upper limit above the level of 3110.0. The indicators OsMA and Stochastic are reversing towards the buy positions.
The price can return to the downtrend only after consolidation below the level of 2890.0 (Fibonacci 23.6%).
The targets of decline can be at the levels of 2700.0 (lows of this year) and 2600.0 (bottom limit of the descending channel).
Support levels: 3010.0, 2995.0, 2948.0, 2890.0, 2870.0, 2830.0, 2790.0, 2700.0 and 2650.0.
Resistance levels: 3110.0, 3150.0 and 3200.0.
Sell Stop: 2970.0. Stop-Loss: 3010.0. Take-Profit: 2950.0, 2890.0, 2830.0, 2800.0, 2700.0, 2650.0 and 2600.0.
Buy Stop: 3060.0. Stop-Loss: 2990.0. Take-Profit: 3110.0, 3150.0 and 3200.0.