MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

MNI: UK NOV FINAL MANUF PMI 48.0 (FLASH 48.6); OCT 49.9

MNI: EUROZONE NOV FINAL MANUF PMI 45.2 (FLASH 45.2); OCT 46.0

MNI: PBOC Net Drains CNY216 Bln via OMO Monday

MNI: PBOC Sets Yuan Parity Lower At 7.1865 Mon; -1.50% Y/Y

MNI: China CFETS Yuan Index Up 0.01% In Week of Nov 29

MNI: EUROZONE OCT UNEMPLOYMENT RATE 6.3%

MNI: GERMANY NOV FINAL MANUF PMI 43.0 (FLASH 43.2); OCT 43.0

MNI: FRANCE NOV FINAL MANUF PMI 43.1 (FLASH 43.2); OCT 44.5

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

MNI EXCLUSIVE: German Turmoil Dashes EU's Joint-Funding Hopes -Officials

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

OUTLOOK: Price Signal Summary - EUROSTOXX 50 Futures Remain Above Support

OUTLOOK
BulletMarketsFixed Income BulletsForeign Exchange Bullets
  • In the equity space, a bull cycle in S&P E-Minis remains intact and the latest shallow pullback is considered corrective. Recent gains reinforce a bullish theme and note that moving average studies are in a bull-mode setup, highlighting a dominant uptrend. Scope is seen for a climb towards 5868.50, a 1.00 projection of the Apr 19 - Jul 16 - Aug 5 price swing, and 5900.00 further out. On the downside, initial support  to watch is 5726.75, the 20-day EMA.
  • EUROSTOXX 50 futures traded sharply higher last week resulting in a clear break of  5024.00, the Sep 3 high. This confirms a resumption of the bull leg that started Aug 5 and cancels a recent bearish theme. It also suggests that the pullback this week is likely a correction. Key short-term support to watch is 4922.33, the 50-day EMA. A resumption of gains would open 5138.24, a 0.764 projection of the Aug 5 - Sep 3 -  6 price swing. A break of the 50-day average would undermine the bullish theme.
171 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
  • In the equity space, a bull cycle in S&P E-Minis remains intact and the latest shallow pullback is considered corrective. Recent gains reinforce a bullish theme and note that moving average studies are in a bull-mode setup, highlighting a dominant uptrend. Scope is seen for a climb towards 5868.50, a 1.00 projection of the Apr 19 - Jul 16 - Aug 5 price swing, and 5900.00 further out. On the downside, initial support  to watch is 5726.75, the 20-day EMA.
  • EUROSTOXX 50 futures traded sharply higher last week resulting in a clear break of  5024.00, the Sep 3 high. This confirms a resumption of the bull leg that started Aug 5 and cancels a recent bearish theme. It also suggests that the pullback this week is likely a correction. Key short-term support to watch is 4922.33, the 50-day EMA. A resumption of gains would open 5138.24, a 0.764 projection of the Aug 5 - Sep 3 -  6 price swing. A break of the 50-day average would undermine the bullish theme.