France 40 (FR40EUR) Is Falling After a Retest at Level 5600

France 40 (FR40EUR) Is Falling After a Retest at Level 5600

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

France 40 (FR40EUR) Long-term Trend: Bearish
France’s 40 index is in a downward move. FR40EUR has fallen since January 11. Today, the market has fallen from level 5689 to level
5411.50. A further downward movement is expected.

FR40EUR – Daily Chart

Daily Chart Indicators Reading:
The index is currently at level 36 of the Relative Strength Index period 14. It is in a downtrend zone and above the centerline 50. The 21-day SMA and the 50-day SMA are sloping upward indicating an uptrend.

France 40 (FR40EUR) Medium-term Trend: Bearish
On the 4- hour chart, France 40 is in an downward move. A retraced candle body tested the 61.8% Fibonacci retracement level. The retracement indicates that the index will fall to level 1.618 Fibonacci extension, Which is the low of 5307.50.

FR40EUR – 4 hour

4-hour Chart Indicators Reading
France 40 is currently below the 40% range of the daily stochastic. The index is in bearish momentum. The moving averages are still sloping sideways indicating the sideways market.


General Outlook for France 40 (FR40EUR)
France 40 is now in a downtrend. The downward move has reached the oversold region of the market. Buyers will emerge at the oversold region of the market/.


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Author : Azeez Mustapha

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Azeez Mustapha is an experienced author, trader, markets analyst, signals strategist, and funds-manager.