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Key Support Zones: 5400, 5300, 5200
France 40 (FR40EUR) Long-term Trend: Bearish
Since on March 16, the index support at 3750 has been holding as the bulls make an upward move. The index was also oversold . The bulls that were not available previously were on hand to push the coin upward. The upward move has commenced since on March 19 and it is still ongoing. Currently, the market has reached a high of 4359. The bulls can reach a high of 5500 before facing any resistance.
Daily Chart Indicators Reading:
The index is currently above 20% range of the daily stochastic. FR40EUR is in a bullish momentum as the market currently makes an upward move. The stochastic bands are ranging and horizontally flat. This is because the coin has stayed long in the oversold region.
France 40 (FR40EUR) Medium-term Trend: Bearish
On the 4- hour chart, the index is in a descending channel. The bulls have broken the resistance line of the channel and closed above it. This indicates the resumption of an uptrend.
4-hour Chart Indicators Reading
FR40EUR is currently at level 56 of the Relative Strength Index period 14. The index is in an uptrend zone and the market will rise. Also, it is above the centerline 50. The 21-day SMA and the 50-day SMA are sloping upward indicating an uptrend.
General Outlook for Italy France 40 (FR40EUR)
FR40EUR is in a bullish trend. The bulls have started emerging at the oversold region to push the coin upward. The downward movement may have subsided as the bulls emerge. The bear market is likely to turn bullish as the bulls take control.
Instrument: France 40 (FR40EUR)
Order: Buy
Entry price: 4359
Stop: 4300
Target: 4559
Note: Learn2Trade.com is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results
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