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Price Signal Summary - Bunds Head South

MARKET INSIGHT
  • In the equity space, S&P E-minis recovered yesterday but it remains too early to determine whether a move higher is a correction or the start of a recovery that resumes the uptrend. Attention remains on the key 50-day EMA at 4412.43. This average is an important support. Key resistance is unchanged at 4539.50, Sep 3 high. EUROSTOXX 50 futures remains above 4132.50, Sep 9 low. A break of this support would expose 4078.00, Aug 19 low. The bull trigger is unchanged at 4252.00, Sep 6 high.
  • In FX, EURUSD's sell-off yesterday confirmed a resumption of bearish pressure. The pair has cleared Monday's low of 1.1770 resulting in a print below 1.1758, 61.8% of the Aug 20 - Sep 3 rally. Further weakness would open 1.1735, Aug 27 low. Recent activity in GBPUSD has defined short-term directional parameters at; 1.3913 as resistance, Sep 14 high and support at 1.3727, Sep 8 low. A clear breach of either level would provide a clearer directional signal. {US} The USD Index (DXY) has established a short-term support at 92.32, Sep 14 low. Technical conditions suggest scope for gains near-term.
  • On the commodity front, Gold sold off sharply yesterday and the near-term outlook remains bearish. The focus is on $1724.5, 76.4% retracement of the Aug 9 - Sep 3 rally. WTI futures maintain a bullish outlook. The contract has this week cleared $71.30, the bear channel top drawn from the Jul 6 high. This reinforces current bullish conditions and opens the primary resistance and bull trigger at $74.77, Jul 7 high.
  • In FI, Bund futures continue to weaken. This has opened 170.82 next, 2.764 projection of the Aug 5 - 11 - 17 price swing. Gilt futures are softer too and signal scope for an extension of the current bear cycle. The focus is on 127.09 1.764 projection of the Aug 20 - 26 - 31 price swing and 127.00 appears exposed.
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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