Annual Forecast for France 40 (FR40EUR) (2021): FR40EUR Is Expected To Decline in the First Quarter

Annual Forecast for France 40 (FR40EUR) (2021): FR40EUR Is Expected To Decline in the First Quarter

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

In the first quarter of 2020, France 40 crashed, reaching a low of level 3700. The index crashed and then pulled back. In the second quarter, the bulls buy the dips as the market resumed its upward move. In December, the index has recovered as it trades above level 5500. Also, it is approaching the overhead resistance at level 6000. Nonetheless, the overhead resistance at level 6000 has not been broken since 2017.

FR40EUR – Monthly Chart

France 40 (FR40EUR) Price Predictions: Monthly Chart
In the first three months, the index has a breakdown before the resumption of another uptrend. France 40 is struggling and has broken above level 5500 resistance. The further upward movement is expected.

FR40EUR – Weekly Chart

France 40 (FR40EUR) Price Predictions: Weekly Chart
The index has been trading below level 6000. Each time the overhead resistance is retested the market will fall. Since 2017 the overhead resistance has not broken. The market has continued to fluctuate below the 6000 price level.

Conclusion
According to reports, the French government has cut its 2021 growth outlook after the COVID-19 resurgence. The government has imposed a second locked down. The current uptrend may reach overhead resistance by the end of 2020. In 2021, the index may fall in the first quarter of the year.


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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.