Technical analysis

EUR50 Wave Analysis 2 April, 2021

EUR50 Wave Analysis 2 April, 2021

• EUR50 broke major resistance level 3865.00

• Likely to rise to resistance level 4000.00

EUR50 index earlier broke above the major resistance level 3865.00 (former monthly high from February) intersecting with the daily up channel from December.

The breakout of this resistance zone is aligned with the predominant uptrend that can be seen on the daily and the weekly EUR50 index charts.

Having recently broken the sharper daily up channel from February – EUR50 is likely to rise further toward the next round resistance level 4000.00.

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