Eurostoxx 50 extended rebound is fading
Nicolas Suiffet June 11, 2020 5:21 PM
In the euro zone, Eurogroup finance ministers will meet to discuss the European Commission's recovery plan.
In the euro zone, Eurogroup finance ministers will meet to discuss the European Commission's recovery plan. While central banks are well on the move all over the world, this crisis also requires appropriate responses from the States.
The current president, Mario Centeno created a surprise on Tuesday when he announced that he would be stepping down next week.
Mario Centeno has chaired since January 2018 the Eurogroup, the meeting of the Finance Ministers of the nineteen Member States of the euro area.
From a chartist’s point of view, the Eurostoxx 50’ extended rebound is fading. Prices fell back within the short term bullish channel. The daily Relative Strength Index (RSI, 14) is reversing down from its overbought territory. Readers may want to consider opening short positions below the resistance at 3395 with 3109 and 3097 as targets. Alternatively, a push above 3395 would call for a new up leg towards 3630.
Source: GAIN Capital, TradingView
From time to time, GAIN Capital Australia Pty Ltd (“we”, “our”) website may contain links to other sites and/or resources provided by third parties. These links and/or resources are provided for your information only and we have no control over the contents of those materials, and in no way endorse their content. Any analysis, opinion, commentary or research-based material on our website is for information and educational purposes only and is not, in any circumstances, intended to be an offer, recommendation or solicitation to buy or sell. You should always seek independent advice as to your suitability to speculate in any related markets and your ability to assume the associated risks, if you are at all unsure. No representation or warranty is made, express or implied, that the materials on our website are complete or accurate. We are not under any obligation to update any such material.
As such, we (and/or our associated companies) will not be responsible or liable for any loss or damage incurred by you or any third party arising out of, or in connection with, any use of the information on our website (other than with regards to any duty or liability that we are unable to limit or exclude by law or under the applicable regulatory system) and any such liability is hereby expressly disclaimed.