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Price Signal Summary - S&P E-Minis Pivot Support At 50-day EMA

MARKET INSIGHT
  • In the FX space, the USD remains firm and the uptrend has accelerated with DXY extending gains following this week's break of 93.44, the Mar 31 high. EURUSD has cleared 1.1704 this week, Mar 31 low. This signals scope for a move to 1.1621 next, 1.00 projection of the Jan 6 - Mar 31 - May 25 price swing. GBPUSD is lower too and approaching the key support at 1.3572, Jul 20 low and the bear trigger. AUDUSD has cleared the 0.7200 handle and continues to slide. Scope is seen for a move towards 0.7053, 38.2% retracement of the Mar '20 - Feb uptrend. USDCAD has resumed the uptrend that started Jun 1. The pair is approaching 1.2976, 1.00 projection of the Jun 23 - Jul 19 - 30 price swing.
  • On the commodity front, Gold remains firm with the focus on the next important resistance at $1797.1, the 50-day EMA. A break would strengthen bullish conditions. WTI futures support at $64.49, Jul 20 low has been cleared. This strengthens the bearish theme and opens $60.81, 1.236 projection of the Jul 6 - 20 - 30 swing.
  • On the equity front, a short-term corrective cycle remains in play following this week's move lower. S&P E-minis attention is on the key support area highlighted by the 50-day EMA. The average intersects at 4341.81. EUROSTOXX 50 has probed its 50-day EMA. A deeper pullback would expose 4047.50, the Jul 27 low.
  • In FI, support to watch in Bunds is unchanged at 176.21, the Aug 11 low. Trend conditions remain bullish. The bull trigger is 177.61, Aug 05 high . Gilt futures outlook is bullish too and attention is on 130.72, Aug 4 high and the bull trigger. The support to watch is unchanged at 129.07, the 50-day EMA.
Fixed Income Technical AnalysisForeign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsFixed Income BulletsForeign Exchange Bullets
Fixed Income Technical AnalysisForeign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsFixed Income BulletsForeign Exchange Bullets

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