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TECHS: Price Signal Summary - Risk On?

MARKET INSIGHT
  • In the equity space, S&P E-minis have traded lower this week and remain below resistance at 4183.50, Apr 16 high. Support levels to watch are seen at 4101.25, Apr 13 low and 4068.31, the 20-day EMA.
  • In the FX world, a gravestone doji in EURUSD warns of a possible top. Key short-term resistance is at yesterday's high of 1.2080. A deeper pullback would expose 1.1943, Apr 19 low. Gains above 1.2080 would resume the uptrend. GBPUSD traded higher yesterday but did find resistance at the former bear channel base drawn off the Nov 2, 2020 low. Yesterday's high of 1.4009 marks a key short-term resistance. Support is at 1.3810, Apr 19 low. USDJPY has this week traded through 108.41, Mar 23 low and 108.13, the 50-day EMA. The next key support and pivot level is 107.64, a trendline support drawn off the Jan 6 low.
  • On the commodity front, Gold maintains a bullish tone. The focus is on $1805.7, Feb 25 high. Brent (M1) stalled at yesterday's high of $68.08. Key support to watch is $64.93, the 20-day EMA. WTI (M1) has found resistance at $64.38, yesterday's high. The 20-day EMA at $61.48 is seen as a firm intraday support.
  • In the FI space, Bunds (M1) remain vulnerable with support at 170.52, Mar 18 low cleared. This opens 170.05 next, 76.4% of the Feb 25 - Mar 25 rally. Support to watch in Gilts (M1) remains 127.81, Apr 14 low. Initial firm resistance is 128.93, Mar 25 high.
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