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CFDs and forex (FX) are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs, FX, or any of our other products work and whether you can afford to take the high risk of losing your money.
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Technical Update - AEX25, BEL20 and CAC40

Equity 3 minutes to read
KCL
Kim Cramer Larsson

Technical Analyst, Saxo Bank

AEX25 seem short-term range bound BEL20 testing key resistance. CAC40 is set to extend uptrend but will it?



AEX25 must break and close above 680 for 700 strong resistance level to be tested. RSI is in positive sentiment indicating more upside potential, but it seems to struggle to get traction. RSI closes below lower rising trendline it could be an indication of short-term key support at 654 to be tested. If AEX closes below 654 bear trend has resumed.
AEX25 d 7nov
Source all charts and data: Saxo Group

BEL20 seems to be having trouble breaking above 100 daily SMA and the minor resistance at 3,619. If rejected downward pressure could resume testing short-term rising trendline. 3,497 is key support.
If BEL20 can close above 3,619 there is upside potential to around 3,740-3,7667. RSI is in positive sentiment but struggles to get upside momentum. If RSI closes below lower rising trendline it could be an indication of support at 3,497 is to be tested and possibly broken.

BEL20 d 7nov

CAC40 closed Friday above resistance at 6,394 and is set to extend the short-term uptrend to 6,609. 6,609 key resistance. A close above and CAC40 has reverse medium-term downtrend.
However, if CAC instead slides back and breaks below steep rising trendline support at 6,183. That level is key support for short-term Bull/Bear trend. A close below and selling pressure is likely to accelerate pushing CAC40 below 6,000.
RSI could be first indicator for that scenario to play out. If RSI closes below its rising trendline

CAC40 d 7nov

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