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Price Signal Summary - Equities Head North

MARKET INSIGHT
  • In the equity space, S&P E-minis trend needle still points north and the contract continues to climb. Price is approaching the next objective of 4591.25, the 1.00 projection of the Jul 19 - Aug 16 - Aug 19 price swing. EUROSTOXX 50 futures have also rallied and are fast approaching key resistance at 4223.00, the Sep 6 high. This also represents the bull trigger and a break would confirm a resumption of the broader uptrend and open 4290.50, 1.00 projection of the Jul 19 - Sep 6 - Oct 6 price swing.
  • In FX, EURUSD continues to consolidate and in pattern terms, the recent pause appears to be a bull flag. A bullish focus remains in place and sights are set on the 50-day EMA at 1.1691. Key short-term support is unchanged at 1.1572, Oct 18 low. GBPUSD is off its recent high however short-term bullish conditions remain intact and corrections are shallow. The focus is on 1.3913, Sep 14 high and a key resistance. USDJPY maintains a bullish tone. Scope is seen for a climb towards 114.99, 1.50 projection of the Apr 23 - Jul 2 - Aug 4 price swing. Initial support is at 112.89, the 20-day EMA. A break is required to signal scope for a deeper corrective pullback.
  • On the commodity front, Gold spiked higher Friday and cleared $1800.6, Oct 14 high. Yesterday's gains highlight a short-term positive tone and attention is on $1834.0, the Sep 3 high. WTI trend conditions are unchanged and remain bullish. $85.01, 1.00 projection of the Sep 21 - Oct 6 - 7 price swing has been probed. The focus is on $86.00 next.
  • In the FI space, trend conditions remain bearish and short-term gains are considered corrective. Bund futures sights are set on 167.79, 2.50 projection of the Sep 9 - 17 - 21 price swing. Key resistance is at 169.92, Oct 14 high. Initial resistance is at 169.34, the 20-day EMA. Gilt futures path of least resistance remains down and recent weakness has opened 123.16, Feb 27, 2019 low (cont). Key resistance is unchanged at 125.27, the Oct 14 high. 124.77, the 20-day EMA marks initial resistance.
Fixed Income Technical AnalysisForeign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsFixed Income BulletsForeign Exchange Bullets
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