Euro STOXX50 - new high?

Hi out there,

the european economic data of doesn't look as good as it could have been, but what do you think - could the Euro STOXX50 rise up to a new high if you watch the long time development? Perhaps as like as the positive prediction of the german DAX going up?

I'll wait for any answers!

browser  

Hi,

In my opinion the situation is critical.
Long time without consolidations. I mentioned it in my answer for the FDAX.

But economic data need not to have impact on the chart. Example: a company publishes its earnings - plus 80% before tax. Under rational thinking you would say "perfect". But the market participants have several opinions about a "perfect" earning. Some may say ok, others would tend to think "not that I've expected" (too low). Consequence: even the chart is driven by subjective opinions.

So it's hard to make conclusions between economic data and charts.

Best regards
MrFib  

Hi browser,

european data is not good enough?
give an example, so I can understand

 

Hi browser,

short-term trend rating is bearish. According to the oversold hourly pattern some rebound is expected.

Regards
Rob  

Hi to you,

I expect short-term trend rating bearish, too. minimal to 3.906/02er fibonacci support, then down to 3.847/43 zone, max fesx will test 3.805.



 

Hi to you,

I expect short-term trend rating bearish, too. minimal to 3.906/02er fibonacci support, then down to 3.847/43 zone, max fesx will test 3.805.