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EuroSTOXX 50 Future Base; Bull Bias for 3177/81 into Midweek

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EuroSTOXX 50 Future Base; Bull Bias for 3177/81 into Midweek

European benchmark completes a stronger base and more bullish shift

·         We have stressed in recent reports to our clients that “into early November, the skewed bias is for a test to the upper end of the range, to 3088 for a bullish shift” and the Friday bull gap driven rally (3054-42) through here has set a more bullish tone.

·         A robust turnaround rebound Thursday from ahead of a retrace support at 2951 has reinforced the bullish breakout and aims still higher into early November.

·         We now see threat to 3132 on the way to a key chart/ retrace area at 3177/81.

·         Overshoot threat for this week is to 3227/28/31, maybe 3249.


·         Below 3042 eases bull risks; through 2954 signals a neutral tone, only shifting negative below 2896.

Download full report, levels & screencast here:


4 Hour Euro STOXX 50 December Future Chart




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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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