France 40 (FR40EUR) Is in Consolidation Between Levels 4750 and 5250

France 40 (FR40EUR) Is in Consolidation Between Levels 4750 and 5250

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

France 40 (FR40EUR) Long-term Trend: Bullish
France 40 is now is in consolidation after testing the low of 4 750. The price action is indicating the appearance of small body candlesticks. The market is presently fluctuating between levels 4750 and 5250. The small Doji and Spinning tops are describing that buyers and sellers are undecided about the direction of the market.

FR40EUR – Daily Chart

Daily Chart Indicators Reading:
At the moment, the index has fallen to level 54 of the Relative Strength Index period 14. The index is still in the uptrend trend zone and above the centerline 50. The 21-day SMA and the 50-day SMA are sloping upward. It indicates the previous trend.

France 40 (FR40EUR) Medium-term Trend: Bullish
On the 4- hour chart, the index is in an uptrend. A correction candle tested the 0.618 Fibonacci retracement level. This indicates that the market will fall to the level 1.618 Fibonacci level.

FR40EUR – 4 Hour Chart

4-hour Chart Indicators Reading
France 40 is above 40% range of the daily stochastic. It indicates that the index is in a bearish momentum. Meanwhile, 21-day and 50-day SMA are sloping downward which indicates the downtrend.

General Outlook for Italy France 40 (FR40EUR)
FR40EUR is in a downward move. Initially, the pair moves up to retest  level 5000. The market has been retesting that same level since June 16. Today, the index has resumed its downward move. It is targeting level 4500.


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