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EQUITY TECHS

E-MINI S&P (U2): Gains Considered Corrective

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CORN TECHS

(Z2) Bearish Following Breach Of Key Support

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Needle Still Points North

EURGBP TECHS
  • RES 4: 0.8658 High Sep 29 2021
  • RES 3: 0.8643 High Sep 30 2021
  • RES 2: 0.8619 High May 12 and bull trigger
  • RES 1: 0.8587 High May 24
  • PRICE: 0.8499 @ 06:24 BST May 26
  • SUP 1: 0.8476/8433 20-day EMA / Low May 23
  • SUP 2: 0.8393/ 0.8391 Low May 17 / 61.8% of Apr 14 - May 12 upleg
  • SUP 3: 0.8367 Low May 2 and a key support
  • SUP 4: 0.8337 76.4% retracement of the Apr 14 - May 12 upleg

EURGBP rallied Tuesday and cleared 0.8534, May 16 high. The cross faced resistance Wednesday though and retraced the bulk of Tuesday gains. Despite the move lower, a positive theme remains intact. The break higher this week reinstates a S/T bullish theme and attention is on 0.8619, May 12 high and the next hurdle for bulls. Clearance of this level would resume a 3.5 month uptrend. Initial support lies at 0.8476, the 20-day EMA.

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  • RES 4: 0.8658 High Sep 29 2021
  • RES 3: 0.8643 High Sep 30 2021
  • RES 2: 0.8619 High May 12 and bull trigger
  • RES 1: 0.8587 High May 24
  • PRICE: 0.8499 @ 06:24 BST May 26
  • SUP 1: 0.8476/8433 20-day EMA / Low May 23
  • SUP 2: 0.8393/ 0.8391 Low May 17 / 61.8% of Apr 14 - May 12 upleg
  • SUP 3: 0.8367 Low May 2 and a key support
  • SUP 4: 0.8337 76.4% retracement of the Apr 14 - May 12 upleg

EURGBP rallied Tuesday and cleared 0.8534, May 16 high. The cross faced resistance Wednesday though and retraced the bulk of Tuesday gains. Despite the move lower, a positive theme remains intact. The break higher this week reinstates a S/T bullish theme and attention is on 0.8619, May 12 high and the next hurdle for bulls. Clearance of this level would resume a 3.5 month uptrend. Initial support lies at 0.8476, the 20-day EMA.