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Price Signal Summary - EUROSTOXX 50 Futures  Approach Channel Resistance

OUTLOOK
  • In the equity space, the trend condition in S&P E-Minis is bullish and yesterday’s fresh cycle high reinforces current conditions. Price action continues to highlight the fact that corrections are shallow - this is a bullish signal that highlights positive market sentiment. Support to watch is 5065.67, the 20-day EMA. A clear break of this average would signal potential for a deeper retracement towards 4951.27, the 50-day EMA. Sights are on 5200.00 next.
  • A bullish theme in EUROSTOXX 50 futures remains intact and Thursday’s rally and fresh cycle high reinforces this theme. Moving average studies remain in a bull-mode position, highlighting positive market sentiment. Sights are on the psychological 5000.00 handle next. Further out, scope is seen for a climb towards a bull channel top at 5022.10. The channel is drawn from the Oct 27 low. Initial firm support lies at 4841.50, the 20-day EMA.
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Foreign Exchange Technical AnalysisEM BulletHomepagemarkets-real-timeEmerging Market NewsEquitiesBulletMarketsFixed Income BulletsForeign Exchange Bullets

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