France 40 (FR40EUR) Is in a Sideways Trend as Price Pulls Back Into Range Bound Zone


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 range bound move. The index is currently fluctuating between levels 4800 and 5100. Recently, the price broke the lower price range but pulled back into the range-bound zone. It is moving up to retest the upper price range.

FR40EUR – Daily Chart

Daily Chart Indicators Reading:
The index is currently at level 48 of the Relative Strength Index period 14. It is in a downtrend zone and below the centerline 50. The 21-day SMA and the 50-day SMA are sloping sideways indicating a sideways trend.

France 40 (FR40EUR) Medium-term Trend: Ranging
On the 4- hour chart, the index is in a sideways move. The price has broken the support level and resumed a downward move. The index is rising to reach the previous highs but faces minor resistance at level 4900.

FR40EUR – 4 Hour Chart

4-hour Chart Indicators Reading
The index is currently below the 80% range of the daily stochastic. The index is in a bearish momentum. The moving averages are still sloping horizontally indicating the sideways trend.

General Outlook for Italy France 40 (FR40EUR)
France 40 has resumed upward from the low of 4690. The price has pulled back to the range-bound zone. In recent times, the index is yet to trend as the key levels remain unbroken.

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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.