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CAC 40 and EURO STOXX 50 - Technical Trade Note


Double Technical Take

CAC 40 and EURO STOXX 50

Barry Dumas gives two technical takes on these Index's.

1. Trade idea on CAC 40

I am looking to trade the French market (known as the CAC 40) today. I have spotted a breakout from the sideways consolidation as shown in chart with dotted red lines. I am Looking to enter the CAC 40 at current levels or at 5552.

Trade: CAC 40

  • Entry (Buy): 5552
  • Stop loss: 5511
  • Target price: 5621


Source - Bloomberg

2. Trade idea on EURO STOXX 50

I am looking to the Eurozone this week and have spotted a consolidation breakout, seen in the chart below. The purple zone marked below illustrates this consolidation zone on the Euro Stoxx 50 index. It seems the trend is up for now and I am looking to enter at current levels or at 3680.

Trade: EURO STOXX 50

  • Entry (Buy): 3680
  • Stop loss: 3650
  • Target price: 3725


Source - Bloomberg



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