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EuroSTOXX 50 Future Bear Bias for 3001 and 2992

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EuroSTOXX 50 Future Bear Bias for 3001 and 2992

An unexpected, more significant breakdown Monday through retrace support at 3098 to negate the recovery effort from mid-December and leaves a negative bias to a broader range theme.

Range Parameters: We see the range defined by 2992 and 3175.

Range Breakout Challenge

  • Downside: Below 2992 sees risk lower for 2977 and maybe back to the 2913 low.
  • Upside: Above 3175 aims higher for 3212 and maybe back to the 3276/82 peaks.

For Today:

  • We see a downside bias for 3001 and 2992; break here aims for 2977, maybe 2957.
  • But above 3051 opens risk up to 3106.

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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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