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EU50: ⬇️ Sell
– EU50 reversed from multi-month resistance level 5500.00
– Likely to fall to support level 5400.00
EU50 index recently reversed from the resistance area surrounding the key multi-month resistance level 5500.00, which has been repeatedly reversing the price from February.
This resistance area was further strengthened by the nearby upper daily Bollinger Band.
Given the strength of the resistance level 5500.00 and the overbought daily Stochastic, EU50 index can be expected to fall to the next support level 5400.00.
Source: https://fxpro.news
