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23.06.202318:53 Forex Analysis & Reviews: Technical analysis on EUROSTOXX50 for June 23rd, 2023.

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.

Exchange Rates 23.06.2023 analysis

Blue line- support trend line

Yellow rectangle- triple top rejection

EURSTOXX50 index remains technically in a bullish trend. Price however formed a triple top rejection at 4,418-4,400 and is now challenging the short-term upward sloping support trend line at 4,234. As long as price is above the blue trend line, bulls continue to have the upper hand. Recent price action implies that there are increased chances of a bigger price reversal and a break below the blue trend line. The RSI has been providing bearish divergence signs over the last few months.

Alexandros Yfantis
Analytical expert of InstaForex
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