France 40 (FR40EUR) Resumes Uptrend, Battles Level 4600 Resistance

Azeez Mustapha

Updated:

UNLOCK DAILY FOREX SIGNALS

Select a Plan

£40

 1-month subscription

Select

£30

 3-month subscription

Select

£21.5

 6-month subscription

Select

£399

 lifetime subscription

Select

£50

 Separate Swing Trading Group

Select

Or

Get VIP forex signals, VIP crypto signals, swing signals, and forex course free for lifetime.

Just open an account with one our affiliate broker and make a minimum deposit: 250 USD.

Email [email protected] with a screenshot of funds on account to get access!

Sponsored by

Sponsored Sponsored

Checkmark

Service for copy trading.

Checkmark

High profitable signals.

Checkmark

24/7 cryptocurrency trading.

Checkmark

10 minute setup with significant benefits.

Checkmark

79% Success rate.

Checkmark

Up to 40 trades per month.

Checkmark

Monthly subscriptions begin at £58.

Key Resistance Zones: 5800, 6000, 6200
Key Support Zones: 5000, 4800, 4600

France 40 (FR40EUR) Long-term Trends: Bearish

France 40 index is currently facing resistance at level 4600. Since March 26, the bulls have failed to break the resistance level. However, on April 29, the bulls broke the resistance but were immediately repelled below the resistance zone. The market fell to level 4362 and resumed upward move. The price has been fluctuating in the last one month below level 4600. In the meantime, the market is going up to retest the resistance.

FR40EUR – Daily Chart

Daily Chart Indicators Reading:
France 40 index has fallen to level 49 of the Relative Strength Index. This implies that the market has reached the downtrend zone. The downtrend  may not continue as there is a bullish signal. The 21-day SMA is a support line for the index. The SMAs are sloping downward.

France 40 (FR40EUR) Medium-term Trend: Bearish
On the 4- hour chart, the market is in the ascending channel. The price fluctuates between the resistance at 4600 and the support line. On May 4, the market fell to the support line but the index reached the oversold region. Buyers are emerging to push the prices upward.

FR40EUR – 4 Hour Chart

4-hour Chart Indicators Reading
The price is presently above the 20% range of the daily stochastic. This indicates that the market is in a bullish momentum. Buyers are emerging as the market was previously oversold. The SMAs is sloping upward.

General Outlook for France 40 (FR40EUR)
France 40 have resumed upward retesting the resistance at 4600. The market is in a sideways trend trading below the current resistance. Possibly, a rebound will break through resistance and resume the upward.

 Note: Learn2.Trade 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

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9
Share with other traders!

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.

Leave a Reply

Your email address will not be published. Required fields are marked *