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Price Signal Summary - Risk-Off Mood Weighs On Equities

MARKET INSIGHT
  • In the equity space, S&P E-minis are under pressure. The contract has cleared the 50-day EMA at 4412.88 and this reinforces the current short-term bearish threat. Attention turns to the next key support at 4339.75, Aug 19 low. EUROSTOXX 50 futures have also started the week on a soft note and cleared former support at 4060.50, Aug 19 low. This signals scope for weakness towards 3962.50, 76.4% retracement of the Jul 19 - Sep 6 rally.
  • In FX,EURUSD remains soft. Today's weakness has resulted in a breach of 1.1722, the 76.4 retracement of the Aug 20 - Sep 3 rally. This opens the key support at 1.1664, Aug 20 low and an important bear trigger. GBPUSD is under pressure too and has cleared support at 1.3727, Sep 8 low. This opens 1.3680, Aug 27 low. The next key support is at 1.3602 Low Aug 20. The USD Index (DXY) gains have exposed the key resistance at 93.73, Aug 20 high and the bull trigger. A break would confirm a resumption of the uptrend that started May 25.
  • On the commodity front, Gold sold off sharply Sep 16 and the near-term outlook remains bearish. The focus is on $1724.5, 76.4% retracement of the Aug 9 - Sep 3 rally. WTI futures maintain a bullish outlook although the contract is facing selling pressure this morning as risk-off sentiment dominates. Initial support is seen at $69.73, the 2-day EMA. Key support has been defined at $67.56, Sep 9 low.
  • In FI,Bund futures are firmer this morning, but remain in a downtrend. Recent weakness signals scope for a move towards 170.52, 3.00 projection of the Aug 5 - 11 - 17 price swing. Gilt futures remain in a bearish cycle. The focus is on 126.83 2.00 projection of the Aug 20 - 26 - 31 price swing.
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Fixed Income Technical AnalysisForeign Exchange Technical AnalysisHomepagemarkets-real-timeAT&T Market NewsBank of America Market NewsBulletMarketsFixed Income BulletsForeign Exchange Bullets

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