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Price Signal Summary - EUROSTOXX 50 Recovery Extends

EUROSTOXX50 TECHS
  • In the equity space, S&P E-Minis traded higher last week and the contract is holding on to its gains. The rally last week resulted in a break of the 50-day EMA. This highlights a stronger reversal and signals the end of the corrective cycle between Jul 16 - Aug 5. Sights are on 5600.75, Aug 1 high. A break would open key resistance and the bull trigger at 5721.25, the Jul 16 high. Initial support lies at 5363.8, the 50-day EMA.
  • EUROSTOXX 50 futures traded sharply higher last week, extending the recovery that started Aug 5. The contract has traded through the 20-day EMA and attention is on resistance at the 50-day EMA, at 4866.49. A clear break of this average would undermine the recent bearish theme and highlight a stronger reversal. This would open 4951.00, the Jul 31 high. For bears, a reversal lower would refocus attention on the bear trigger at 4494.00, the Aug 5 low. Initial support is at 4665.00, the Aug 9 low.
Fixed Income Technical AnalysisForeign Exchange Technical AnalysisHomepagemarkets-real-timeEquitiesBulletMarketsFixed Income BulletsForeign Exchange Bullets
Fixed Income Technical AnalysisForeign Exchange Technical AnalysisHomepagemarkets-real-timeEquitiesBulletMarketsFixed Income BulletsForeign Exchange Bullets

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