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Price Signal Summary - EUROSTOXX50 Futures Trend Is Up But Remains Overbought

OUTLOOK
  • In the equity space, S&P E-Minis traded higher Thursday and confirmed a resumption of the current uptrend. The breach of resistance paves the way for strength towards 4090.75, the Dec 14 high and leaves the 4100.00 handle exposed. Further out, an extension higher would open 4180.00, the Dec 13 high and a bull trigger. Initial firm support has been defined at 3949.56, the 50-day EMA.
  • EUROSTOXX 50 futures remain above support at 4097.00, Jan 19 low and the contract is trading just ahead of key short-term resistance at 4206.00, the Jan 18 high. A break of this level would confirm a resumption of the uptrend and pave the way for a climb towards 4215.00, a Fibonacci projection. Note that the trend remains overbought. A pullback, if seen, would be seen as a healthy bull trend correction. Support to watch is 4085.4, the 20-day EMA.
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Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsFixed Income BulletsForeign Exchange Bullets

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