CORRECTED-MNI: Fed's Hammack-Near Or At Time To Slow Rate Cuts

MNI BRIEF: Fed's Goolsbee Sees Rates Fair Bit Lower In A Year

CANADA JOBLESS RATE +6.8% VS FORECAST +6.6%, PRIOR +6.5%

MNI China Daily Summary: Friday, December 6

MNI: PBOC Net Drains CNY288.1 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Lower At 7.1848 Fri; -1.64% Y/Y

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT PRELIMINARY DEC INDEX 74.0

CANADA NOV IVEY PURCHASING MANAGERS INDEX 52.3 SA

EZ/UK Bond Supply Calendar: Austria, UK Auction on Tuesday

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

EUROSTOXX50 TECHS: (U4) Monitoring Resistance At The 50-Day EMA

EUROSTOXX50 TECHS
Fixed Income Technical AnalysisForeign Exchange Technical AnalysisEquitiesCEEMEABulletGlobalFixed Income BulletsForeign Exchange BulletsRegionMarkets

             

  • 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: 4863.45/4998.00 50-day EMA / High Sep 3 and a bull trigger   
  • PRICE: 4846.00 @ 06:27 BST Sep 17
  • SUP 1: 4729.00 Low Sep 10
  • SUP 2: 4686.53 61.8% retracement of the Aug 5 - Sep 3 bull cycle 
  • SUP 3: 4612.94 76.4% retracement of the Aug 5 - Sep 3 bull cycle
  • SUP 4: 4558.00 Low Aug 6  

Eurostoxx 50 futures are holding on to their recent gains. Despite the latest recovery, a bear threat is still present. The sell-off between Sep 3 - 6, resulted in a move below both the 20- and 50-day EMAs. A resumption of the bear leg would signal scope for weakness towards 4686.53, a Fibonacci retracement point. First resistance is at 4863.45, the 50-day EMA. A clear break of this average would strengthen a bullish condition.

152 words

To read the full story

Close

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.

             

  • 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: 4863.45/4998.00 50-day EMA / High Sep 3 and a bull trigger   
  • PRICE: 4846.00 @ 06:27 BST Sep 17
  • SUP 1: 4729.00 Low Sep 10
  • SUP 2: 4686.53 61.8% retracement of the Aug 5 - Sep 3 bull cycle 
  • SUP 3: 4612.94 76.4% retracement of the Aug 5 - Sep 3 bull cycle
  • SUP 4: 4558.00 Low Aug 6  

Eurostoxx 50 futures are holding on to their recent gains. Despite the latest recovery, a bear threat is still present. The sell-off between Sep 3 - 6, resulted in a move below both the 20- and 50-day EMAs. A resumption of the bear leg would signal scope for weakness towards 4686.53, a Fibonacci retracement point. First resistance is at 4863.45, the 50-day EMA. A clear break of this average would strengthen a bullish condition.