France 40 (FR40EUR) Consolidates Above Level 5500, It Is Likely to Resume Upward

31 December 2020 | Updated: 31 December 2020

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

France 40 (FR40EUR) Long-term Trend: Ranging
France 40 index is in a sideways move below level 5600. The bulls are yet to break the resistance at level 5600. On December 21, the bulls were repelled as the index dropped to level 5300 and move up. A break above the resistance will signal the resumption of the uptrend.

FR40EUR – Daily Chart

Daily Chart Indicators Reading:
The index is currently at level 58 of the Relative Strength Index period 14. It is in an uptrend 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: Ranging
On the 4- hour chart, France 40 is in an upward move. The index is in a range bound movement below 5600. The price is falling after failing to penetrate the resistance at level 5600. The price will fall to level 5500 and resume upward.

FR40EUR – 4 Hour Chart

4-hour Chart Indicators Reading
France 40 is currently below the 80% 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 sideways trend. In November, the bulls fail to break the resistance at level 5600. Presently, the index is still fluctuating below the overhead resistance.


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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.