France 40 (FR40EUR) Is Range-Bound between Levels 4750 and 5250

France 40 (FR40EUR) Is Range-Bound between Levels 4750 and 5250

Key Resistance Zones: 5800, 6000, 6200
Key Support Zones: 5000, 4800, 4600

France 40 (FR40EUR) Long-term Trends: Ranging
France 40 index is currently in a sideways trend. Since June, the index has been consolidating in the middle of the price range. FR40EUR is not trading in a particular direction. It is presently falling and trading at level 5046.0 at the time of writing

FR40EUR – Daily Chart

Daily Chart Indicators Reading:
France 40 index has risen to level 54 of the Relative Strength Index. This implies that the market has reached the uptrend zone. The 21-day and 50-day SMAs are sloping horizontally. The index will resume uptrend if price breaks above the resistance line. The downtrend will resume if price breaks the support line.

France 40 (FR40EUR) Medium-term Trend: Ranging
On the 4- hour chart, the market is in a tight range. The price is fluctuating between levels 4900 and 5100. The index is fluctuating and testing the upper and lower price range. The sideways move is without a particular direction.

FR40EUR – 4 Hour Chart

4-hour Chart Indicators Reading
The price is presently below the 40% range of the daily stochastic. This indicates that the market is in a bearish momentum. The SMAs are sloping horizontally indicating the sideways move.

General Outlook for France 40 (FR40EUR)
France 40 is in a sideways trend. The market is currently in a tight range. The index is not trending as price is in choppy price action. The market is in a sideways move for the past month.

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Author : Azeez Mustapha


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