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Price Signal Summary - Equities Remain Above Support

MARKET INSIGHT
  • In the equity space, S&P E-minis near-term resistance has been defined at $4185.00, May 21 high. A break would open 4238.25, May 10 high. Key trend support lies at 4029.25, the May 13 low.
  • In the FX space, EURUSD traded higher last week to a high of 1.2245 on May 19. A break of this level would confirm a resumption of the uptrend and open 1.2285, Jan 8 high. GBPUSD remains bullish and attention is on 1.4237, Feb 24 high and this year's high. USDJPY support remains 108.34, May 7 low. A bullish theme dominates while this support holds and attention is on 109.79, May 13 high. A break of 108.34 however would highlight a trendline break drawn off the Jan 6 low and risk a deeper pullback.
  • On the commodity front, Gold remains bullish. The focus is on $1892.7, 76.4% retracement of the Jan 6 - Mar 8 sell-off. Oil bounces off recent lows. Brent (N1) is off recent lows however, the contract remains in a corrective bearish cycle. Key S/T support lies at $63.93, Apr 26 low. WTI (N1) key support lies at $60.55, Apr 22 low.
  • In the FI space, Bunds (M1) traded lower last week and cleared support at 168.59, May 13 low. This confirmed a resumption of the underlying downtrend and opens 168.09, 0.764 projection of the Jan 27 - Feb 25 - Mar 25 price swing. The bear trigger is 168.29, May 19 low. Near-term risk in Gilts (M1) is still skewed to the downside. The key support and bear trigger is 126.79, Mar 18 low.
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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