Technical Update - European stocks pointing lower. EuroStoxx50, DAX, AEX25, BEL20, CAC40 and SMI20

Technical Update - European stocks pointing lower. EuroStoxx50, DAX, AEX25, BEL20, CAC40 and SMI20

Equities 5 minutes to read
KCL
Kim Cramer Larsson

Technical Analyst, Saxo Bank Group

Summary:  EuroStoxx50 / EU50 cfd
DAX / GER40 cfd
AEX25 / NETH25 cfd
CAC40 / FRA40 cfd
BEL20/BELG20 cfd
SMI20 / SWISS20 cfd


EuroStoxx50/EU50 cfd was rejected at the upper falling trendline and send back below resistance at around 4,210. Downtrend is still intact and is likely to move lower towards 4,035 possibly down to 3,980 support.

For EuroStoxx50 to reverse the trend a close above 4,335 is needed. If closing above 4,235 it will be in neutral

Source all charts and data: Saxo Group

DAX failed Friday to close above resistance at 15,483. Downtrend is intact and DAX seems likely to slide lower to test support at around 14,933. A close below could fuel a sell-off down to around 14,500-14,400.
For DAX to resume uptrend a close above 16K is needed. A close above 15,575 could fuel a short rally towards 15,750

GER40 closed below key resistnace at 15,517. Downtrend intact .

Support at 14,765 and 14,457

AEX 25/ NETH25 cfd  traded last week above the resistance at around 730 only to be rejected at the 55 daily Moving Average. RSI was rejected at the 60 threshold thus still in negative sentiment

AEX seems set for lower levels. A close below 730 is likely to fuel a sell-off down below last week’s low at around 715. 700 could be tested

A close above 750 will demolish the bearish picture

BEL20/BELG20 cfd rejected at 3,579/3,571 resistance resuming down and is likely to take out October trough at around 3,445. A bearish move to 3,378 seems likely. Negative sentiment with no divergence on RSI is supporting the bearish scenario

A daily close above 3,575 could fuel a short rally to 3,632 but for BEL 20 resume uptrend a close above 3,730 is needed. The area around 3,650 is a strong resistance area

CAC40/FRA40 cfd didn’t even test the resistance at around 7,204 before sellers took back control closing the gap created 4th October.
Down trend has resumed and CAC40/FRA40 is likely to slide lower to support area at around 6,900-6,800. For CAC to resume to uptrend a close above 7,300 is needed.

 

SMI20/SWISS20 cfd resuming downtrend and is likely to close the gap i.e., close below 10,873 followed by a move lower.
If closing below 10,749 SMI20/SWISS20 selling pressure could accelerate towards 10,600-10,500 i.e., March lows

To reverse the down trend a close above 11,070 is needed


Quarterly Outlook

01 /

  • Equity outlook: The high cost of global fragmentation for US portfolios

    Quarterly Outlook

    Equity outlook: The high cost of global fragmentation for US portfolios

    Charu Chanana

    Chief Investment Strategist

  • Commodity Outlook: Commodities rally despite global uncertainty

    Quarterly Outlook

    Commodity Outlook: Commodities rally despite global uncertainty

    Ole Hansen

    Head of Commodity Strategy

  • Upending the global order at blinding speed

    Quarterly Outlook

    Upending the global order at blinding speed

    John J. Hardy

    Global Head of Macro Strategy

    We are witnessing a once-in-a-lifetime shredding of the global order. As the new order takes shape, ...
  • Asset allocation outlook: From Magnificent 7 to Magnificent 2,645—diversification matters, now more than ever

    Quarterly Outlook

    Asset allocation outlook: From Magnificent 7 to Magnificent 2,645—diversification matters, now more than ever

    Jacob Falkencrone

    Global Head of Investment Strategy

  • Macro outlook: Trump 2.0: Can the US have its cake and eat it, too?

    Quarterly Outlook

    Macro outlook: Trump 2.0: Can the US have its cake and eat it, too?

    John J. Hardy

    Global Head of Macro Strategy

  • Equity Outlook: The ride just got rougher

    Quarterly Outlook

    Equity Outlook: The ride just got rougher

    Charu Chanana

    Chief Investment Strategist

  • China Outlook: The choice between retaliation or de-escalation

    Quarterly Outlook

    China Outlook: The choice between retaliation or de-escalation

    Charu Chanana

    Chief Investment Strategist

  • Commodity Outlook: A bumpy road ahead calls for diversification

    Quarterly Outlook

    Commodity Outlook: A bumpy road ahead calls for diversification

    Ole Hansen

    Head of Commodity Strategy

  • FX outlook: Tariffs drive USD strength, until...?

    Quarterly Outlook

    FX outlook: Tariffs drive USD strength, until...?

    John J. Hardy

    Global Head of Macro Strategy

  • Fixed Income Outlook: Bonds Hit Reset. A New Equilibrium Emerges

    Quarterly Outlook

    Fixed Income Outlook: Bonds Hit Reset. A New Equilibrium Emerges

    Althea Spinozzi

    Head of Fixed Income Strategy

None of the information provided on this website constitutes an offer, solicitation, or endorsement to buy or sell any financial instrument, nor is it financial, investment, or trading advice. Saxo Capital Markets UK Ltd. (Saxo) and the Saxo Bank Group provides execution-only services, with all trades and investments based on self-directed decisions. Analysis, research, and educational content is for informational purposes only and should not be considered advice nor a recommendation. Access and use of this website is subject to: (i) the Terms of Use; (ii) the full Disclaimer; (iii) the Risk Warning; and (iv) any other notice or terms applying to Saxo’s news and research.

Saxo’s content may reflect the personal views of the author, which are subject to change without notice. Mentions of specific financial products are for illustrative purposes only and may serve to clarify financial literacy topics. Content classified as investment research is marketing material and does not meet legal requirements for independent research.

Before making any investment decisions, you should assess your own financial situation, needs, and objectives, and consider seeking independent professional advice. Saxo does not guarantee the accuracy or completeness of any information provided and assumes no liability for any errors, omissions, losses, or damages resulting from the use of this information.

Please refer to our full disclaimer for more details.

Saxo
40 Bank Street, 26th floor
E14 5DA
London
United Kingdom

Contact Saxo

Select region

United Kingdom
United Kingdom

Trade Responsibly
All trading carries risk. To help you understand the risks involved we have put together a series of Key Information Documents (KIDs) highlighting the risks and rewards related to each product. Read more
Additional Key Information Documents are available in our trading platform.

Saxo is a registered Trading Name of Saxo Capital Markets UK Ltd (‘Saxo’). Saxo is authorised and regulated by the Financial Conduct Authority, Firm Reference Number 551422. Registered address: 26th Floor, 40 Bank Street, Canary Wharf, London E14 5DA. Company number 7413871. Registered in England & Wales.

This website, including the information and materials contained in it, are not directed at, or intended for distribution to or use by, any person or entity who is a citizen or resident of or located in the United States, Belgium or any other jurisdiction where such distribution, publication, availability or use would be contrary to applicable law or regulation.

It is important that you understand that with investments, your capital is at risk. Past performance is not a guide to future performance. It is your responsibility to ensure that you make an informed decision about whether or not to invest with us. If you are still unsure if investing is right for you, please seek independent advice. Saxo assumes no liability for any loss sustained from trading in accordance with a recommendation.

Apple, iPad and iPhone are trademarks of Apple Inc., registered in the U.S. and other countries. App Store is a service mark of Apple Inc. Android is a trademark of Google Inc.

©   since 1992