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Price Signal Summary - Risk-Off Mood Dominates

MARKET INSIGHT
  • In the equity space, S&P E-minis are holding above Friday's low of 4260.00. The outlook is unchanged and remains bearish with scope seen for weakness towards 4214.50, Jul 19 low. Short-term gains are considered corrective. EUROSTOXX 50 futures outlook remains bearish too. A resumption of weakness opens 3902.50, Jul 20 low.
  • In FX, EURUSD remains bearish and has resumed its downtrend this morning, confirming a recent bear flag formation. The focus is on 1.1493 next, 50.0% of the Mar '20 - Jan '21 bull phase. 3902.50, Jul 20 low. GBPUSD remains vulnerable following last week's sell-off and despite the recent strong corrective bounce. The pair has reversed lower this morning having found resistance at the former triangle support. Attention is on the 1.3412, Sep 29 low where a break would open 1.3354, Dec 23, 2020 low. Initial resistance is at yesterday's high of 1.3648. The recent corrective pullback in USDJPY has found support at 110.82, Oct 4 low and the focus is on the bull trigger at 112.08, Sep 30 high. A break would confirm a resumption of the uptrend and open 112.23/40, the Feb 20 and 24 highs.
  • On the commodity front, Gold remains in a downtrend and attention is on $1690.6, the Aug 9 low and the bear trigger. Note though that the Sep 30 price pattern is a bullish engulfing candle. This highlights the potential for a stronger corrective bounce and defines an initial support at $1721.7, the Sep 29 low. A reversal higher would open $1787.4, Sep 22 high. WTI futures continue to climb. The focus is on the psychological $80.00 hurdle next..
  • In the FI space, the primary trend remains down. {GE} Bund futures weakness has exposed 169.01 next, 1.764 projection of the Sep 9 - 17 - 21 price swing. Resistance is seen at170.55, Oct 4 high. Gilt futures remain heavy too and have gapped lower today. The focus is on 123.79, 1.764 projection of the Aug 31 - Sep 17 - 21 price swing.
Fixed Income BulletsFixed Income Technical AnalysisForeign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets
Fixed Income BulletsFixed Income Technical AnalysisForeign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets

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