European Equity Indices Summary for Jul 03, 2020
Major European Indices Technical Analysis Market Overview Report for Jul 03, 2020 | by Techniquant Editorial Team
With five out of the six Major European Indices closing lower today, the ones that stand out on the negative side are FTSE losing -1.33% and CAC closing -0.84% lower. On the flipside the best performer has been TECDAX closing 0.13% higher.
One of today's most interesting market conditions in the Major European Indices showed up in FTSE: Among the eight market conditions that our pattern recognition engine identified today, the statistics for the OHLC Patterns based market condition "Bearish Outside Bar" stand out. Although it is usually interpreted as bearish, it has actually shown to be bullish for FTSE 100. Out of 114 times, FTSE closed higher 59.65% of the time on the next trading day after the market condition occurred. The optimal exit for swing trading this condition on the long side has been after 10 trading days, showing a win rate of 51.75% with an average market move of 0.13%. Read more