France 40 (FR40 EUR) Reaches Bearish Exhaustion, Upward Move Likely

France 40 (FR40 EUR) Reaches Bearish Exhaustion, Upward Move Likely

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

France 40 (FR40EUR) Long-term Trend: Bullish
France 40 was earlier in an uptrend. The index rose to level 5123.80 and was resisted. France 40 is presently on a downward move. The downward move may reach the low of level 5200 if the selling pressure persists.

FR40EUR – Daily Chart

Daily Chart Indicators Reading:
At the moment, the index has fallen to level 53 of the Relative Strength Index period 14. It is in an uptrend trend zone but above the centerline 50. The 21-day SMA and 50-day SMA are sloping upward indicating the previous trend. The selling pressure will persist if the price breaks below the trend line.

France 40 (FR40EUR) Medium-term Trend: Ranging
On the 4- hour chart, the index is in a sideways trend. The market is fluctuating between level 4800 and 5100. The pair has fallen but is finding support at the 26-day EMA. However, if the 26-day EMA support holds, it appears the uptrend will resume.

FR40EUR – 4 Hour Chart

4-hour Chart Indicators Reading
France 40 is below 25% range of the daily stochastic. The pair is approaching the oversold region of the market. In the meantime, the price action is indicating a bullish signal. This indicates the emergence of bulls. The EMAs are sloping horizontally indicating the sideways move.


General Outlook for Italy France 40 (FR40EUR)
FR40EUR downward move is over as the index finds support at the 26-day EMA. The market is now in an upward move. The index is likely to retest the resistance at level 5100.



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