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Price Signal Summary - EUROSTOXX 50 Futures Remain Above Support At The 50-Day EMA

OUTLOOK
  • In the equity space, a strong sell-off in S&P E-Minis this week has resulted in a break of both the 20- and 50-day EMAs. The breach of the 50-day EMA strengthens short-term bearish conditions and signals scope for an extension lower, towards 4061.11 next and 4018.75, the 38.2 and 50.0% retracement points of the Mar 13 - Apr 18 bull leg. On the upside, the 20-day EMA at 4120.83 marks initial resistance, a clear break above this EMA would ease bearish pressure.
  • A key short-term support in EUROSTOXX 50 futures at 4282.10 remains intact - for now. This is the 20-day EMA where a break is required to signal a short-term top and highlight potential for a deeper pullback - towards 4206.30, the 50-day EMA. Trend conditions remain bullish and attention is on the bull trigger at 4363.00, Apr 21 high. A break would open 4381.50, Jan 5 2022 high (cont).
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeEquitiesBulletMarketsFixed Income BulletsForeign Exchange Bullets
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeEquitiesBulletMarketsFixed Income BulletsForeign Exchange Bullets

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