EURO STOXX 50, TECHNICAL ANALYSIS – Speaking Factors:
- Euro space shares trending greater on US-China commerce deal, orderly Brexit hopes
- Bearish technical cues made good with swift decline however uptrend intact for now
- Pivotal assist appears to be 3549. Breaking 3734 may neutralize bearish bias
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Eurozone shares have tracked greater alongside a transfer away from dovish extremes on priced-in 2020 Fed coverage bets since September. That transfer – witnessed in a single type or one other throughout most benchmark monetary property – seems to have rising hopes for a “section one” US-China commerce deal. Ebbing issues a couple of no-deal Brexit most likely helped as nicely.
Euro Stoxx 50 chart created with TradingView
That pattern could also be on the cusp of reversal. The benchmark Euro Stoxx 50 index validated preliminary bearish cues in technical positioning identified two weeks ago with a pointy push downward, struggling the most important one-day…