France 40 (FR40EUR) Resumes Downtrend, Sellers Threaten to Short

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

France 40 (FR40EUR) Long-term Trend: Bullish
France 40 is in a downward move. A correction candle tested the 0.618 Fibonacci retracement level. This indicates that the market will fall to  level 1.618 Fibonacci level. In other words, the market will fall to level 4427.

Daily Chart Indicators Reading:
At the moment, the index has fallen to level 52 of the Relative Strength Index period 14. The index is still in the uptrend trend zone and above the centerline 50. The 21-day SMA and the 50-day SMA are sloping upward. It indicates the previous trend.

France 40 (FR40EUR) Medium-term Trend: Bullish
On the 4- hour chart, the index is in an uptrend. A correction candle tested the 0.618 Fibonacci retracement level. This indicates that the market will fall to the level 1.618 Fibonacci level.

4-hour Chart Indicators Reading
France 40 is above 40% range of the daily stochastic. It indicates that the index is in a bearish momentum. Meanwhile, 21-day and 50-day SMA are sloping downward which indicates the downtrend.

General Outlook for Italy France 40 (FR40EUR)
FR40EUR is a downward move. Initially, the pair moves up to retest level 5000. The market has been retesting that same level since June 16. Today, the index has resumed its downward move.



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