empty
 
 
You are about to leave
www.instaforex.eu >
a website operated by
INSTANT TRADING EU LTD
Open Account

16.03.202315:44 Forex Analysis & Reviews: Risk off for the EUROPEAN indices after the Credit Suisse woes.

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Major European indices are turning around from a multiweek bullish run to an ugly reversal. Pull backs or trend reversals to the downside are usually more aggressive and we are now witnessing such a bearish change in the major indices. Yesterday we talked extensively about DAX (German index), while today we start by taking a closer look at the EUROSTOXX50 with the help of the Ichimoku cloud indicator.

Exchange Rates 16.03.2023 analysis

In Ichimoku cloud terms trend is now neutral as price has enter the Kumo (cloud). Price is below the negatively sloped tenkan-sen (red line indicator) and the kijun-sen (yellow line indicator). The Chikou span (black line indicator) is also now below the candlestick pattern. All the above characteristics are of a bearish trend. If these characteristics are combined with a break below the Kumo, then we will get a sell signal.

Exchange Rates 16.03.2023 analysis

The Spanish IBEX is no different. Price is now in Neutral trend. Price is vulnerable to more downside towards the lower cloud boundary around 4,011. Recapturing the 4,170 level is important for bulls. They need to push price above this level in order to regain control.

Exchange Rates 16.03.2023 analysis

The French CAC40 is of course no different. Same characteristics here as well showing that CAC40 remains vulnerable to more downside. Short-term trend is bearish and with potential to see a move towards the lower cloud boundary at 4,011 is highly probable. Will central banks change their rate policy? Will European banks come under pressure following the recent fall out of SVB and crisis looming above Credit Suisse?
Alexandros Yfantis
Analytical expert of InstaForex
© 2007-2024

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.




You are now leaving www.instaforex.eu, a website operated by INSTANT TRADING EU LTD
Can't speak right now?
Ask your question in the chat.

Turn "Do Not Track" off