Important Technical Tests for Europe ETFs

Most European market observers have been critical of European Central Bank President Mario Draghi’s stimulus measures. Specifically, many believe the measures have been too little too late, even after the ECB cut all three key rates this month and expanded quantitative easing.

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Regarding EZU, “those that are bullish can consider a purchase in the $31 to $30 area, with a stop loss below $29.71. This trade assumes that support will hold and that the price will head higher like it did in February. Since the longer-term trend is down, look to exit those trades between $34 and $35. If the price continues below $29.71 the longer-term downtrend is likely continuing, so expect the price to reach $28.50 or lower,” according to Investopedia.

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