EURO STOXX 50 (SX5E) May Drop Soon!

8 ene 2020

Euro stocks index is approaching a 4 years' high!

there is a high chance to see a strong bearish reaction from the underlined weekly resistance,
but because the trend is bullish, I will trade the market only with a good confirmation signal.

On 4H chart, the market is currently forming the right shoulder of a head and shoulders pattern.
I pay close attention to 3725.0 neckline.
Being broken, it will trigger a selling reaction and it will be a perfect signal for us to open short.

The initial target will be 3625.0 level
The second target 3410.0 level.

Stop will be above head!

Good luck!