Eurostoxx, Dax, FTSE 100, E-Mini S&P, EURUSD

Daily Forecast - 31 May 2013

Eurostoxx June contract


Euro Stoxx got closer to 2768/62 support which held as hoped & we bounced from 2771. Resistance at 2810 then held the bounce & could do so again today with the outlook still negative.

Below 2800 look for 2889/86 & then 2768/62 which remains good support & could hold the downside again today. A break lower certainly cannot be ruled out though for a test of last week’s low & the March high at 2751/47. This should hold the downside but any longs need stops below 2740.

Above 2810 meets 2820 & a selling opportunity with stops above 2832 for a retest of this week’s high at 2846/49 & a very good chance of a top here again.

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