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Price Signal Summary - Bund Futures Remain Vulnerable

MARKET INSIGHT
  • On the equity front, S&P E-minis are lower and continue to extend this week's corrective pullback. Support to watch is 4472.97, the 20-day EMA. The underlying trend condition is bullish and a resumption of strength would open 4591.25, 1.00 projection of Jul 19 - Aug 16 - 19 price swing. EUROSTOXX 50 futures have again traded lower this morning. Trend conditions remain bullish but watch support at 4138.50, Aug 26 low. It has been probed, a clear break would expose 4078.00, Aug 19 low and a key support.
  • In the FX space, EURUSD remains below Friday's high of 1.1909 having traded lower this week. The next support lies at 1.1794, Sep 1 low. Key resistance is unchanged at 1.1909, the Jul 30 high and Sep 3 high. GBPUSD maintains a short-term bullish tone but has pulled away from recent highs. Watch support at 1.3680, Aug 27 low. A break would threaten recent bullish signals. This morning's recovery appears promising for bulls. DXY key support lies at 91.78, Jul 30 low. This level remains intact and a stronger reversal would highlight a potential base. A break of 91.78 is required to strengthen the case for bears.
  • On the commodity front, Gold has pulled back from recent highs. The near-term outlook remains bullish with the key trigger for an extension higher at $1834.1, Jul 15 high. Support to watch is $1774.5, Aug 19 low. WTI futures remain in a bull mode. The focus is on $70.74, 76.4.% retracement of the Jul 30 - Aug 23 sell-off.
  • In FI, Bund futures remain vulnerable following Tuesday's sharp sell-off. The focus is on 171.30, 2.382 projection of the Aug 5 - 11 - 17 price swing. Gilt futures are weaker following yesterday's breach of support at 128.03, the Jul 6 low (cont). This opens 127.65, 61.8% of the Jun 3 - Aug rally (cont).
Fixed Income Technical AnalysisForeign Exchange Technical AnalysisHomepagemarkets-real-timeAT&T Market NewsBank of America Market NewsBulletMarketsFixed Income BulletsForeign Exchange Bullets
Fixed Income Technical AnalysisForeign Exchange Technical AnalysisHomepagemarkets-real-timeAT&T Market NewsBank of America Market NewsBulletMarketsFixed Income BulletsForeign Exchange Bullets

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