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Price Signal Summary - EUROSTOXX50 Futures Trade Through Bull Channel Support

OUTLOOK
  • In the equity space, S&P E-Minis sold off Thursday and the contract has traded lower today. Price has cleared key short-term support at 3925.00, Mar 2 low and this confirms a resumption of the bear cycle that has been in place since the Feb 2 reversal. The move lower signals potential for an extension towards the 3800.00 handle and support at 3788.50, the Dec 22 low. Initial firm resistance is seen at 4015.27, the 50-day EMA. The first objective is 3869.38, 50.0% retracement of the Oct - Feb bull cycle.
  • EUROSTOXX 50 futures have traded lower today. Price has moved below a key support at 4249.30 - the base of a bull channel drawn from the Oct 13 low. A clear break of this channel base would threaten the uptrend that has been in place since late September last year. An initial downside objective would be 4167.40, the 50-day EMA. Key resistance has been defined at the 4328.00, the Mar 6 high and the bull trigger.
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeEquitiesBulletMarketsFixed Income BulletsForeign Exchange Bullets
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeEquitiesBulletMarketsFixed Income BulletsForeign Exchange Bullets

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