European Stocks Rise for Sixth Consecutive Week
European Stocks Rise for Sixth Consecutive Week
According to the Eurostoxx 50 index (Europe 50 on FXOpen) chart:
→ The index has gained over 6% since early February.
→ It is now trading at an all-time high.
Factors driving market optimism:
→ Expectations of a ceasefire in Ukraine.
→ Trump’s decision to delay tariff implementation until April, signalling room for trade negotiations.
Technical Analysis of the Eurostoxx 50 Index (Europe 50 on FXOpen)
Price movements outline an ascending channel (blue), with key observations:
→ The index remains in the upper half of the channel, reflecting strong demand.
→ February’s sharp rally has formed a steeper rising channel (purple).
→ After breaking above resistance at 5,370, a retest (indicated by an arrow) confirmed this level as support.
With the RSI indicator in overbought territory, a potential pullback is plausible—perhaps as investors look to secure profits before the weekend amid a busy news cycle.
In this scenario, the 5,444 level, where the lower purple trendline intersects the blue channel’s median, could act as a support zone.
Trade on TradingView with FXOpen. Consider opening an account and access over 700 markets with tight spreads from 0.0 pips and low commissions from $1.50 per lot.
This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
According to the Eurostoxx 50 index (Europe 50 on FXOpen) chart:
→ The index has gained over 6% since early February.
→ It is now trading at an all-time high.
Factors driving market optimism:
→ Expectations of a ceasefire in Ukraine.
→ Trump’s decision to delay tariff implementation until April, signalling room for trade negotiations.
Technical Analysis of the Eurostoxx 50 Index (Europe 50 on FXOpen)
Price movements outline an ascending channel (blue), with key observations:
→ The index remains in the upper half of the channel, reflecting strong demand.
→ February’s sharp rally has formed a steeper rising channel (purple).
→ After breaking above resistance at 5,370, a retest (indicated by an arrow) confirmed this level as support.
With the RSI indicator in overbought territory, a potential pullback is plausible—perhaps as investors look to secure profits before the weekend amid a busy news cycle.
In this scenario, the 5,444 level, where the lower purple trendline intersects the blue channel’s median, could act as a support zone.
Trade on TradingView with FXOpen. Consider opening an account and access over 700 markets with tight spreads from 0.0 pips and low commissions from $1.50 per lot.
This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.