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EuroSTOXX 50 Future Upside Bias to Range Theme

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EuroSTOXX 50 Future Upside Bias to Range Theme

A solid Friday recovery effort through resistance we had highlighted, leaves a still positive tone for Monday, having stated that "we see an upside bias for 3539; break here aims for 3560, maybe 3586".

The erratic Thursday rebound for a Dragonfly Doji rejected a more bearish shift and leaves a range environment still into mid-May, with an upside bias for Monday.

For Today:

We see an upside bias for 3620; break here aims for 3659, maybe 3678, even 3713.

But below 3601 opens risk down to 3561, which we would look to try to hold..

Short/ Intermediate-term Range Parameters: We see the range defined by 3727 and 3441.

Range Breakout Challenge

Upside: Above 3727 aims higher for 3769 and 3835.

Downside: Below 3441 sees risk lower for 3366, 3349 and 3310.


If you want to see more, you can view the full EuroSTOXX future report with screencasts, levels and day trade views - click here
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2 Hour EuroSTOXX 50 Future Chart (June Contract)


Daily EuroSTOXX 50 Future Chart (June Contract) 


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Steve Miley is The Market Chartist and has over two decades of financial market experience with him. He spent 2009-2012 as a Director of the FX Technical Analysis Research Strategy team at Credit Suisse and was previously at Merrill Lynch for 15 years; 10 years as a technical analyst, 5 years in Fixed Income sales.

He was 2013 winner of the Technical Analyst Magazine Award for Best Independent Fixed Income Research & Strategy, Runner Up for the same award in 2014 and was the winner of Best FX Research & Strategy 2012 (at Credit Suisse).

Steve is a Member of the Society of Technical Analysts (MSTA) and holds a Masters Degree in Politics, Philosophy & Economics from Lincoln College, Oxford University.

Steve has covered all major asset classes including Rates & Credit, G10 & EM currencies, Equity Indices & Sectors and Commodities and has strong relationships across the institutional financial trading spectrum, including Central Banks, Real Money accounts, Hedge Funds and other Global Corporates.



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