Your Daily Game Plan: Eurex

MTS
November 21, 2012

Market: Eurex EURO STOXX 50 Index Futures, $FESX_F

Trading Levels: 2480/2510

Target: 2430

Daily Game Plan Chart 1
Daily Game Plan Chart 1


Yesterday the $FESX_F was rejected by our resistance at 2510, and an initial weakness is expected after the Eurogroup meeting failure, although buyers could step in around the 2480 mark.

Daily Game Plan Chart 2
Daily Game Plan Chart 2


The lighthouse will be the $EURUSD, which plunged from 1.2800$ to 1.2750$ during the Asian session. If the cross regains the 1.2800$, shorts have to be avoided. Probabilities of a good short setup will increase when the common currency will trade out of the up-rising channel toward the 1.2700$.

Daily Game Plan Chart 3
Daily Game Plan Chart 3