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USDCAD TECHS

Stronger In a Range

AUDUSD TECHS

Weaker In A Range

US TSYS SUMMARY

Ending The Week On A Soft Note

EURJPY TECHS

Bearish Risk Growing

USDJPY TECHS

Stronger, But Still Vulnerable

US

SP500 PE Ratio vs. CPI Inflation

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  • RES 4: 4175.00 Low Nov 26, 2007 (cont)
  • RES 3: 4140.00 High Jan 18, 2008 (cont)
  • RES 2: 4099.00 1.00 proj of of the Mar - Jul - Oct 2020 price swing
  • RES 1: 4036.00 High May 10 and the bull trigger
  • PRICE: 3899.00 @ 05:54 BST May 12
  • SUP 1: 3882.00 Low May 4 and key support
  • SUP 2: 3858.41 50-day EMA
  • SUP 3: 3821.00 High Mar 18 and recent breakout level
  • SUP 4: 3727.00 Low Mar 25

EUROSTOXX 50 futures started the week on a softer note. The contract remains under pressure however, broader trend conditions still highlight a bullish theme and pullbacks are likely corrective. The recent break of 4000 confirmed a resumption of the underlying uptrend opening 4099.00, a Fibonacci projection. Key support to watch is 3882.00, May 4 low. A break would be bearish and signal a top and the start of a deeper correction.