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EUFN: European financials are in danger hereI think we can get a retracement in the financial sector, and Europe is in worse shape than the US in general. It wouldn't surprise me to have some negative news pop out, surrounding Italy's referendum, Deutsche Bank, Italian Banks, UK banks, Brexit, etc. Quite a few potential catalysts for volatility, so, if we see this ETF break the linear regression channel support, we will probably see a rapid selloff. Keep your eyes open, it might be safer to stand aside, and book succesful long trades, or maybe even take a couple strategic shorts. Good luck, Ivan Labrie.
NASDAQ:EUFNShort
by IvanLabrie
Eurostoxx 50 : Bearish dynamic & resistance areas, better shortThe EU stocks index Eurostoxx 50 (MOY0) has made a nice rise since the Brexit (end June), but the buyers are currently facing some difficulties to go higher. In fact, the european stock market is inside a bearish dynamic since early 2015, as characterized by the downside trendline resistance (blue) and the bearish 200 days moving average. In this case, the sellers are likely to become majoritary again due the the following reasons : - Proximity with the downside trendline resistance - Beginning of a retreat at 3100 points, first resistance - This resistance area matches with the 50% retracement of the violent drop we have seen in december - february. Both the long term dynamics and levels should prevent the buyers to go further and initiate a pull back to where markets were in september. Here is the precise strategy : - Open short at the current price (3080 points on Friday close) - Stop @ 3120 pts (above the resistance for market noise) - First target @ 3025 points (close 50% of the position, reward/risk = 1.38) - Second target @ 2940 points (close the other 50% of the position, reward/risk = 3.5)
INDEX:SX5EShort
by AlexandreNygal
DAX COMES INTO BIG RESISTANCE ZONEThe DAX has shown some weakness and Closed Lower yesterday. It now comes into a Big Resistance level where a lot of zones and trendlines come together. It is possible we can go a bit higher first. However we have to wait untill confirmation before we go SHORT. The price has to break the 10680 Level to give a clear sign of further correction. After the break of this level small support can be found around 10475 and after that 10325 .
FX:GER30Short
by Forextra_official