Technical Analyst, Saxo Bank Group
AEX 25. 712 is a key support for AEX after the Index bounced a second time in a few days. If AEX can close above 739 the Index has put the downtrend on pause. A close above 747 and the trend has reversed to an uptrend.
If sellers come back in to push AEX25 back below 712 and takes out 710 there is great likelihood they will succeed in extending the downtrend to support at around 688
NETH25 opened just below support at around 712 only for buyers to lift it higher. NETH25 could test 734. A close above 740 will reverse the downtrend short-term and if NETH25 can close above 55 daily MA the road towards previous peaks is paved.
BEL 20 has bounced from below the support at around 3,569 touching the 0.618 retracement at 3,534.
At the time of writing the Index has formed Hammer like candle. If the day ends doing that (drawing a Hammer candle) it indicates a likely bottom and reversal. That could be short-lived however. If closing above 3,569 the Belgian Index could enjoy a nice rebound higher towards strong resistance at around 3,700. A close above 3,747 the Index has reverse the short-term downtrend to 3,800-3,820.
CAC 40 is in a downtrend after closing below support at around 6,946 last week. Trying to get back above today. If CAC can move higher to close above 7,105 the Index has resumed uptrend.
A close back below 6,946 is likely to push the Index lower towards 6,600-6,400
FRA40 cfd has bounced from the 0.618 retracement and is at the time of writing back above 6,945. A close above 7,105 will reverse the current downtrend and FRA40 could eye all-time highs around 7,400. A close back below 6,944 is likely to give sellers renewed energy and extend the down trend towards 6,600. Strong support at around 6,383
Quarterly Outlook
Chief Investment Strategist
Quarterly Outlook
Head of Fixed Income Strategy
Quarterly Outlook
Chief Investment Strategist
Quarterly Outlook
Chief Investment Strategist
Quarterly Outlook
Head of Commodity Strategy
Quarterly Outlook
Chief Investment Strategist
Quarterly Outlook
Chief Investment Strategist
Quarterly Outlook
Chief Investment Strategist
Quarterly Outlook
Head of Fixed Income Strategy
Quarterly Outlook
Head of Commodity Strategy
Disclaimer
The Saxo Bank Group entities each provide execution-only service and access to Analysis permitting a person to view and/or use content available on or via the website. This content is not intended to and does not change or expand on the execution-only service. Such access and use are at all times subject to (i) The Terms of Use; (ii) Full Disclaimer; (iii) The Risk Warning; (iv) the Rules of Engagement and (v) Notices applying to Saxo News & Research and/or its content in addition (where relevant) to the terms governing the use of hyperlinks on the website of a member of the Saxo Bank Group by which access to Saxo News & Research is gained. Such content is therefore provided as no more than information. In particular no advice is intended to be provided or to be relied on as provided nor endorsed by any Saxo Bank Group entity; nor is it to be construed as solicitation or an incentive provided to subscribe for or sell or purchase any financial instrument. All trading or investments you make must be pursuant to your own unprompted and informed self-directed decision. As such no Saxo Bank Group entity will have or be liable for any losses that you may sustain as a result of any investment decision made in reliance on information which is available on Saxo News & Research or as a result of the use of the Saxo News & Research. Orders given and trades effected are deemed intended to be given or effected for the account of the customer with the Saxo Bank Group entity operating in the jurisdiction in which the customer resides and/or with whom the customer opened and maintains his/her trading account. Saxo News & Research does not contain (and should not be construed as containing) financial, investment, tax or trading advice or advice of any sort offered, recommended or endorsed by Saxo Bank Group and should not be construed as a record of our trading prices, or as an offer, incentive or solicitation for the subscription, sale or purchase in any financial instrument. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, would be considered as a marketing communication under relevant laws.
Please read our disclaimers:
- Notification on Non-Independent Investment Research (https://www.home.saxo/legal/niird/notification)
- Full disclaimer (https://www.home.saxo/en-gb/legal/disclaimer/saxo-disclaimer)