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Price Signal Summary - Equities Remain Firm

MARKET INSIGHT
  • In the equity space, S&P E-minis maintain a bullish tone and attention is on the key resistance at 4238.25 May 10. Key trend support is unchanged at 4029.25, May 13 low. The 20-day EMA represents initial support at 4163.05. EUROSTOXX 50 futures trend conditions remain bullish with the focus on 4099.00,1.00 projection of the Mar - Jul - Oct 2020 price swing.
  • In the FX space, EURUSD found support Friday below the 20-day EMA. The outlook remains bullish and the focus is on 1.2285 next, Jan 8 high. Watch support at 1.2133, May 28 low. GBPUSD is consolidating but remains bullish. The focus is on 1.4237, Feb 24 high and this year's high print. A break would confirm a resumption of the broader uptrend. USDJPY resumed its uptrend last week breaking above 109.79, May 13 high and the bull trigger. 110.15, 76.4% retracement of the Mar 31 - Apr 23 sell-off has also been probed. A clear break would strengthen the bullish case and open 110.97, Mar 31 high. Dips are considered corrective.
  • On the commodity front, Gold remains bullish. The yellow metal cleared $1,900 last week and this opens the Jan 8 high of $1917.6. The trend remains overbought and we are monitoring this technical warning sign. $1872.8, May 25 low is first support. Oil contracts are trading near recent highs. Brent (Q1) key resistance is at $69.90, May 18 high and this marks the bull trigger. WTI (N1) confirmed a fresh trend high print of $67.52 Friday. This marks a resumption of the underlying uptrend. The focus is on $67.95, Oct 29 2018 high (cont).
  • Within FI, Bunds (M1) stalled ahead of the 50-day EMA at 170.44. This signals the end of the recent correction. A clear breach of the average is required to highlight scope for further gains. Support is at 169.02. May 24 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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