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Equities are breaking through support

CROSS ASSET
  • VGZ3 is led lower by the Cash market, seems to be more of a technical move for the Risk Off, with {SX5E Index} breaking through the August low, and now at its lowest level since late March.VGZ3 has dropped a 26 points in the past 30 minutes.
  • Next support in SX5E is at the 4158.42 area.
  • VGZ3 has cleared the support that was at 4204.00 Low Sep 22, and next downside target is at 4163.00 1.00 proj of the Aug 10 - 18 - 30 price swing.
  • ESZ3 is testing immediate support at 4352.50 Low Jun 8.
  • Below the latter, sees 4318.00 Low Jun 2.
  • The leg lower in Risk, helps the Dollar to new intraday high against the EUR, GBP, SGD, AUD, NOK, CNH, CNY, NZD.
  • And edging higher versus the Yen, on the back of the higher Yields.
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