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Price Signal Summary - EUROSTOXX50 Pullback Exposes Support At The 50-Day EMA

OUTLOOK
  • In the equity space, the S&P E-Minis outlook remains bullish and the latest pullback is considered corrective - for now. Trend signals highlight an uptrend and the focus is on a climb towards 4244.00, the Feb 2 high and the next important resistance. On the downside, the 20-day EMA has been breached. This exposes the 50-day EMA which intersects at 4124.34 and marks a key support. A break of the 50-day EMA would alter the picture.
  • EUROSTOXX 50 futures traded lower Tuesday and the contract remains softer today. For now, the pullback appears to be a correction and trend signals continue to point north - moving average studies are in a bull mode position. Price has cleared the 20-day EMA, at 4323.50. The clear break exposes the 50-day EMA at 4266.30. Clearance of this EMA would highlight a stronger reversal threat and open 4233.00, the May 4 low. On the upside, the bull trigger is 4409.00, the May 19 high.
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeEquitiesBulletMarketsFixed Income BulletsForeign Exchange Bullets
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeEquitiesBulletMarketsFixed Income BulletsForeign Exchange Bullets

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