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Key Price Signal Summary - EURUSD At Fresh 2020 Highs

MARKET INSIGHT
  • EURUSD cracked the 1.2011 resistance yesterday, trading to fresh highs for the year. Attention turns to 1.2102, 76.4% of the entire 2018-20 downtrend. USDJPY continues trade between initial support at 103.65, Nov 18 low and resistance at 104.76/86, Nov 4 high . EURGBP has cleared trendline resistance drawn off the Sep 11 high. The focus shifts to 0.9069, Nov 5 high. Cable key resistance is at 1.3482, Sep 1 high.
  • Gold bullish engulfing reversal candle pattern marks yesterday's price action. This signals scope for a climb towards $1845.9, 20-day EMA and the former key support at $1848.80, Sep 28 low. Oil markets focus: Support to watch in Brent (G1) is $45.87, Nov 27 low and in WTI (F1) at $43.33, Nov 11 high and $42.82, Nov 24 low.
  • FI bearish pressure forces prices lower: Bund fut: Key support is at 173.66 Low Nov 11 and the bear trigger. Gilts (H1) Initial support is at 133.44, Nov 16 low. A break would open 133.00. Treasuries (H1) sharp sell-off exposes 137-12 next, 61.8% of the Nov 11 - 30 rally.
  • E-Mini S&P registered a fresh all-time high yesterday. The next objective and key chart point is at 3699.03, 1.382 projection of Sep 24 - Oct 12 rally from Oct 30 high.

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