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OUTLOOK: Price Signal Summary - Key Resistance In Bunds Remains Exposed

OUTLOOK
BulletMarketsFixed Income BulletsForeign Exchange Bullets
  • In the FI space, Bund futures have traded higher this week and this confirms a resumption of the bull cycle that started Sep 2. The contract has breached 134.95, 76.4% of the Aug 5 - Sep 2 bear leg, exposing the bull trigger at 135.66, Aug 5 high. Clearance of this level would strengthen a bullish theme. On the downside, initial firm support lies at 134.08, the 20-day EMA.
  • Gilt futures have traded higher this week and the contract remains firm with a bull cycle still in play. 100.30, the Aug 14 high, has been cleared This resumes the uptrend and maintains the price sequence of higher highs and higher lows. 101.78 marks the next objective, a 1.00 projection of the Sep 2 - 6 - 9 price swing. 100.64, the Sep 10 high and a gap low on the daily chart, is first support.
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  • In the FI space, Bund futures have traded higher this week and this confirms a resumption of the bull cycle that started Sep 2. The contract has breached 134.95, 76.4% of the Aug 5 - Sep 2 bear leg, exposing the bull trigger at 135.66, Aug 5 high. Clearance of this level would strengthen a bullish theme. On the downside, initial firm support lies at 134.08, the 20-day EMA.
  • Gilt futures have traded higher this week and the contract remains firm with a bull cycle still in play. 100.30, the Aug 14 high, has been cleared This resumes the uptrend and maintains the price sequence of higher highs and higher lows. 101.78 marks the next objective, a 1.00 projection of the Sep 2 - 6 - 9 price swing. 100.64, the Sep 10 high and a gap low on the daily chart, is first support.