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of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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EUROSTOXX50 TECHS: (U4) Corrective Cycle Remains In Play
- RES 4: 5132.00 High Jun 6
- RES 3: 5087.00 High Jul 12 and a key resistance
- RES 2: 5012.00 High Jul 16
- RES 1: 4886.63/4998.00 50-day EMA / High Sep 3 and a bull trigger
- PRICE: 4821.00 @ 06:19 BST Sep 6
- SUP 1: 4838.00 Intraday low
- SUP 2: 4805.47 38.2% retracement of the Aug 5 - Sep 3 bull cycle
- SUP 3: 4747.00 50.0% retracement of the Aug 5 - Sep 3 bull cycle
- SUP 4: 4718.00 Low Aug 14
Eurostoxx 50 futures have reversed course this week and a bearish tone - a correction - remains intact for now. The move down has resulted in a break of both the 20- and 50-day EMAs. This paves the way for a pullback towards 4805.47 initially, a Fibonacci retracement. Initial firm short-term resistance has been defined at 4998.00, the Sep 3 high. Clearance of this level would reinstate the recent bullish theme.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.