France 40 (FR40 EUR) Consolidates Sideways Between Levels 4800 and 5200


Key Resistance Zones: 5900, 6000, 6100
Key Support Zones: 5400, 5300, 5200

France 40 (FR40EUR) Long-term Trend: Ranging
France 40 is trading in a sideways trend. The upward move has been terminated at level 5250 since June. Consequently, the index has been trading below the resistance. Also, between June and today, the current resistance level has not been broken. The index uptrend will resume once level 5250 is breached.

FR40EUR – Daily Chart

Daily Chart Indicators Reading:
At the moment, the index has risen to level 61 of the Relative Strength Index period 14. It is in the uptrend zone but above the center line 50. The 21-day SMA and 50-day SMA are sloping upward indicating the uptrend.

France 40 (FR40EUR) Medium-term Trend: Ranging
On the 4- hour chart, the index is in a sideways trend. The market is fluctuating between levels 4800 and 5200. Nevertheless, the fluctuation has no specific pattern. The price movement can be in the middle of the range. The upper and lower price range have not been tested nor broken. The index will continue its consolidation until these levels are broken.

FR40EUR – 4 Hour Chart

4-hour Chart Indicators Reading
France 40 is above 80% range of the daily stochastic. The pair is approaching the overbought region of the market. The market will fall as soon as price reaches the overbought region. Therefore the upward move may be short-lived. The EMAs are sloping horizontally indicating the sideways move.

General Outlook for Italy France 40 (FR40EUR)
FR40EUR has been consolidating above level 4800. The market has not trended since June. On the upside, if level 5200 is breached the market will resume the uptrend. The index consolidates in the middle of the range. Presently, SMAs are sloping horizontally. It indicates that the market is consolidating.

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Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.