France 40 (FR40EUR) Selling Pressure Continues to Deepen in the Oversold Region


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

France 40 (FR40EUR) Long-term Trend: Bearish
France 40 index is in a downward move after breaking the 5500 support. The bears broke the support, then came back to retest that same level. The market dropped sharply to the low of 3732. Meanwhile, the current index has been oversold since February 26. The bottom line is that buyers ought to emerge to push the coins upward. Buyers have failed to appear that is the reason the index is in the oversold region. The bearish trend is a strong trend that does not respect oversold or overbought regions.

FR40EUR – Daily Chart

Daily Chart Indicators Reading:
The index is currently below 20% range of the daily stochastic indicating that France 40 is in the oversold region of the market. However, the stochastic bands are ranging and horizontally flat. This indicates that the index has overstayed in the region without the presence of buyers.

France 40 (FR40EUR) Medium-term Trend: Bearish
On the 4- hour chart, the index is in a bearish trend. The index is making a lower low and lower high pattern on a downward move. It is currently at the low of 3732.

FR40EUR – 4 Hour Chart

4-hour Chart Indicators Reading
The index is currently at level 32 of the Relative Strength Index period 14. It means that the index is approaching the oversold region. Also, it is below the centerline 50. The 21-day SMA and the 50-day SMAs are sloping southward indicating the downtrend.

General Outlook for Italy France 40 (FR40EUR)
FR40EUR is seriously in an oversold region. The downward movement will continue as buyers have failed to emerge. The stochastic bands are ranging in the oversold region indicating that the bearish trend is ongoing.

Instrument: France 40 (FR40EUR)
Order: Sell
Entry price: 3732
Stop: 3812
Target: 3532

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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.