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Price Signal Summary - Bunds Clear The 50-Day EMA

MARKET INSIGHT
  • In the equity space, S&P E-minis are unchanged and still trading close to the all-time high of 4238.25 May 10 high. This remains the key resistance and the trigger for a resumption of the uptrend. Initial support is at 4165.25, Jun 3 low.
  • In the FX space, EURUSD appears vulnerable following last week's price action. The focus is on 1.2105, the 50-day EMA. GBPUSD is consolidating and remains below 1.4248, Jun 1 high. A deeper pullback would expose 1.4006, May 13 low. Note the 50-day EMA intersects at 1.4024 and also represents a key support level. Recent USDJPY weakness has resulted in a probe of support at 109.33, Jun 1 low. A clear break lower would threaten the recent uptrend and expose 108.56, May 25 low.
  • On the commodity front, Gold key short-term directional triggers are at; $1916.6, the Jun 1 and bull trigger and $1856.2, the Jun 4 low. Trend conditions in oil remain bullish and price has traded higher today. Recent Brent (Q1) gains have opened $73.00 next, a round number resistance. WTI (N1) similarly cleared resistance to hit new cycle highs, clearing the $70.00 psychological level in the process. The focus is on $70.92, 2.764 projection of Mar 23 - 30 - Apr 5 price swing
  • Within FI, Bunds (U1) have topped the 50-day EMA at 172.00 and looks to have made a clear break. This counters the bearish outlook, with support still holding at 170.99. May 31 low. The break higher opens 172.64, 61.8% retracement of the Mar 25 - May 19 sell-off. Gilts (U1) challenged resistance at 127.74/82 this morning - marking the highs between Apr 20 and May 26. A bearish risk remains present. A breach of this resistance zone is required to highlight a base.
Fixed Income Technical AnalysisForeign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsFixed Income BulletsForeign Exchange Bullets
Fixed Income Technical AnalysisForeign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsFixed Income BulletsForeign Exchange Bullets

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