empty
06.11.2023 06:07 PM
Technical analysis on Eurostoxx50 for November 6th, 2023.

This image is no longer relevant

Red lines- bearish channel

Blue lines- Fibonacci retracement levels

Eurostoxx50 index has started the week on a negative note. In previous posts we warned traders that the bounce in the Eurostoxx50 index has reached very important channel resistance. Price was challenging the upper channel boundary and today we have rejection signs. Price got rejected at the channel resistance and is pulling back. Eurostoxx50 is currently trading around 4,160 and has the potential to make a pull back towards 4,100 for a higher low and gather momentum for the next upside move. Resistance remains key at 4,190 and as long as we trade below this level, the index will remain vulnerable to more downside.

Summary
Urgency
Analytic
Alexandros Yfantis
Start trade
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

Recommended Stories

US stock market: rate cut opens door to new record highs

The US stock market has entered a new phase following the Federal Reserve's first rate cut of the year. The decision to lower the federal funds rate by 25 basis

Anna Zotova 15:46 2025-09-18 UTC+2

Stock Market on September 18: S&P 500 and Nasdaq regain losses amid Fed' decision

US stock indices closed mixed at the end of yesterday's session. The S&P 500 fell by 0.10%, while the Nasdaq 100 declined by 0.43%. The Dow Jones Industrial Average, however

Jakub Novak 11:53 2025-09-18 UTC+2

Stock Market on September 17: S&P 500 and Nasdaq return to earth

US equity indices closed lower yesterday, with the S&P 500 down 0.13% and the Nasdaq 100 slipping 0.07%. The Dow Jones Industrial Average fell 0.27%. Futures on major indices

Jakub Novak 10:39 2025-09-17 UTC+2

S&P 500 Forecast for September 17, 2025

A month ago, on August 19, we expected a US stock market reversal based on the completion of five DeMark sequences. However, that reversal didn't materialize—there was only a five-day

Laurie Bailey 08:15 2025-09-17 UTC+2

Stock Market on September 16: S&P 500 and NASDAQ set new all-time highs

US equity indices closed higher yesterday, with the S&P 500 up 0.47% and the Nasdaq 100 adding 0.44%. The Dow Jones Industrial Average gained 0.11%. Indices continued to notch record

Jakub Novak 11:23 2025-09-16 UTC+2

Stock Market on September 15: S&P 500 and NASDAQ remain near record highs

Last Friday, US equity indices closed mixed. The S&P 500 edged down 0.05%, while the Nasdaq 100 gained 0.49%. The Dow Jones Industrial Average slipped 0.49%. At the start

Jakub Novak 10:44 2025-09-15 UTC+2

Stock market on September 12: S&P 500 and NASDAQ set new all-time highs

Yesterday, US stock indices closed higher. The S&P 500 rose by 0.85%, while the Nasdaq 100 added 0.72%. The Dow Jones Industrial Average fell by 1.36%. Relatively moderate inflation readings

Jakub Novak 09:26 2025-09-12 UTC+2

Stock market on September 11: S&P 500 and NASDAQ ease slightly ahead of key data

Yesterday, US stock indices closed mixed. The S&P 500 rose by 0.30%, while the Nasdaq 100 added 0.03%. The industrial Dow Jones fell by 0.48%. Futures on US and European

Jakub Novak 08:42 2025-09-11 UTC+2

Stock market on September 10: S&P 500 and NASDAQ hit new record highs

Yesterday, US stock indices closed higher. The S&P 500 rose by 0.27%, while the Nasdaq 100 gained 0.37%. The industrial Dow Jones strengthened by 0.43%. The indices reached record highs

Jakub Novak 08:46 2025-09-10 UTC+2

Stock market on September 9: S&P 500 and NASDAQ rebound on tech strength

US stock indices closed higher yesterda. The S&P 500 rose by 0.21%, while the Nasdaq 100 gained 0.41%. The industrial Dow Jones strengthened by 0.25%. On Tuesday, global indices continued

Jakub Novak 08:45 2025-09-09 UTC+2
Can't speak right now?
Ask your question in the chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.