EURO50 Shorting hard with Lagard
The market has opened today Thursday with a restrained opening dominated by the mood that may be caused by ECB President Lagarde today at noon, in its monetary policy with the aim of cutting interest rates. Interest rates are likely to remain on hold until the summer where both the Fed and the ECB will continue to make a measured monetary policy move, as the ECB is detecting some economic weakness in Europe's major markets.
The EuroStoxx 50 index yesterday advanced a fall prominently marked by the telecoms sector with results showing weakness unlike the financial services sector which was strong with Societe Generale leading the way with 3.4% growth following the sale of its corporate finance facility to competitor BPCE for €1100m as part of a wider divestment strategy.
Focusing on the chart, we have been reporting the possibility of a breakout in previous publications of the 5,000 point zone. This occurred on March 13 and continued up to a high of 5,130.41 points last week, triggering a rebound with the weak results of the euro zone, which led to the fracture of the strongest resistance zone yesterday. It is expected that the index will continue its downward movement in the direction of 4,941.17 to test and then if it fractures we will see if it returns in the direction of 4,913.40 points.
We will have to be attentive to the results publications of the companies that compose the index to see its evolution.
EUROSTOXX link: qontigo.com/index/sx5e/
Top 10 of the index:
ASML HLDG, LVM MOET HENNESSY, SAP, TOTALENERGIES, SIEMENS, SCHNEIDER ELECTRIC, ALIANZ, AIRBUS, SANOFI, L'OREAL.
As can be seen, companies from France, Germany and the Netherlands lead the way in this index.
The EuroStoxx 50 index yesterday advanced a fall prominently marked by the telecoms sector with results showing weakness unlike the financial services sector which was strong with Societe Generale leading the way with 3.4% growth following the sale of its corporate finance facility to competitor BPCE for €1100m as part of a wider divestment strategy.
Focusing on the chart, we have been reporting the possibility of a breakout in previous publications of the 5,000 point zone. This occurred on March 13 and continued up to a high of 5,130.41 points last week, triggering a rebound with the weak results of the euro zone, which led to the fracture of the strongest resistance zone yesterday. It is expected that the index will continue its downward movement in the direction of 4,941.17 to test and then if it fractures we will see if it returns in the direction of 4,913.40 points.
We will have to be attentive to the results publications of the companies that compose the index to see its evolution.
EUROSTOXX link: qontigo.com/index/sx5e/
Top 10 of the index:
ASML HLDG, LVM MOET HENNESSY, SAP, TOTALENERGIES, SIEMENS, SCHNEIDER ELECTRIC, ALIANZ, AIRBUS, SANOFI, L'OREAL.
As can be seen, companies from France, Germany and the Netherlands lead the way in this index.
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