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Price Signal Summary - S&P E-Minis Finds Support At The 50-Day EMA

MARKET INSIGHT
  • In the equity space, S&P E-minis tested the 50-day EMA yesterday. The average has provided support and yesterday's strong close signals scope for a resumption of gains. Key support has been defined at 4126.75, Jun 21 low. This level also represents a key short-term pivot support. The bull trigger is 4258.25, last week's t high.
  • In FX, EURUSD remains weak following last week's sharp sell-off and gains are considered corrective. The focus is on 1.1837 next, 76.4% of the Mar 31 - May 25 rally. GBPUSD remains vulnerable following last week's bearish pressure and despite yesterday's gains. The pair has probed 1.3800 and this signals scope for 1.3717 next, Apr 16 low. USDJPY traded higher last week and breached 110.33, Jun 4 high. This reinforces a bullish theme with the focus on 110.97, the year high on Mar 31. Support to watch is at 109.72, yesterday's low.
  • On the commodity front, Gold remains weak and the focus is on $1756.2, low Apr 29. Upticks are considered corrective. {7I} Oil on the other hand has resumed its uptrend. Support in Brent (Q1) has been defined at $72.01, the Jun 17 low. The focus is on $75.60, Apr 25 2019 high (cont). WTI (N1) focus is on $74.47, 3.50 projection of Mar 23 - 30 - Apr 5 price swing. Support to watch lies at $69.77, Jun 17 low.
  • Within FI, Bund futures are trading lower today and have probed support at 171.80, Jun 17 low. A stronger pullback would expose 170.99, Mar 31 low and a key short-term support. 173.16, the Jun 11 high is key resistance. Key support to watch in Gilt futures is unchanged at 126.70, Jun 3 low.
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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