fbEU50 Price Bias Is Still Bearish | IFCM

EU50 Price Bias Is Still Bearish

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    2020/09/21
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The EU50, D1 price forecast in our July 28, 2020 technical analysis was bearish.

  • Market data after EU50, D1 July 28, 2020 technical analysis still indicate bearish bias.
  1. EU50, D1 has closed 3.4% lower on July 31, 2020.
  2. Euro-zone economy contracted by 12.1% in the second quarter of 2020.

Here is what indicators show as of August 3, 2020:

  • The Parabolic Indicator gives a bearish signal.
  • The Bollinger Bands give a neutral signal.
  • The MACD indicator gives a bearish signal.
  • The RSI oscillator gives a bearish signal.
  • The Fractals give a bearish signal.
  • The MA(200) Indicator gives a bearish signal.

So the bearish forecast still stands for the EU50, D1.

OrderSELL
Sell stopBelow 3183.20
Stop lossAbove 3468.29

Eurostat’s July 31, 2020 preliminary report

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