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EURUSD TECHS

Channel Top Is Key Resistance

US TSY FUTURES

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(M2)‌‌ Corrective Cycle

US 10YR FUTURE TECHS
  • RES 4: 123-04 High Mar 31 and a key resistance
  • RES 3: 122-12+ High Apr 4
  • RES 2: 121-09 High Apr 14 and key resistance
  • RES 1: 120-19+ 20-day EMA
  • PRICE: 120-00 @ 16:55 BST Apr 27
  • SUP 1: 118-08 Low Apr 22 and the bear trigger
  • SUP 2: 118-02+ 0.618 proj of the Mar 7 - 28 - 31 price swing
  • SUP 3: 117-22+ Low Nov 8 2018 (cont)
  • SUP 4: 116-28 0.764 proj of the Mar 7 - 28 - 31 price swing

Recent gains in Treasuries are considered corrective and the primary downtrend remains intact. Moving average studies continue to point south and fresh cycle lows last week confirmed a resumption of the primary downtrend and an extension of the price sequence of lower lows and lower highs. Scope is seen for a move towards 118-02+ next, a Fibonacci projection. The 20-day EMA is the resistance to watch, at 120-19+.

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  • RES 4: 123-04 High Mar 31 and a key resistance
  • RES 3: 122-12+ High Apr 4
  • RES 2: 121-09 High Apr 14 and key resistance
  • RES 1: 120-19+ 20-day EMA
  • PRICE: 120-00 @ 16:55 BST Apr 27
  • SUP 1: 118-08 Low Apr 22 and the bear trigger
  • SUP 2: 118-02+ 0.618 proj of the Mar 7 - 28 - 31 price swing
  • SUP 3: 117-22+ Low Nov 8 2018 (cont)
  • SUP 4: 116-28 0.764 proj of the Mar 7 - 28 - 31 price swing

Recent gains in Treasuries are considered corrective and the primary downtrend remains intact. Moving average studies continue to point south and fresh cycle lows last week confirmed a resumption of the primary downtrend and an extension of the price sequence of lower lows and lower highs. Scope is seen for a move towards 118-02+ next, a Fibonacci projection. The 20-day EMA is the resistance to watch, at 120-19+.