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Price Signal Summary - USD Extends Gains

MARKET INSIGHT
  • In the equity space, S&P E-minis continue to head north. The focus is on 4322.15, 0.764 projection of Mar 25 - May 10 - 13 price swing. EUROSTOXX 50 (U1) attention is on the bearish engulfing candle from Jun 18 that continues to warn of a short-term top in the trend. A break of 4015.00, Jun 21 low would reinforce the importance of the engulfing line and signal scope for a deeper pullback potentially below 4000.00 towards 3914.00, May 20 low.
  • In FX, the USD remains firm. EURUSD has cleared 1.1837, 76.4% of the Mar 31 - May 25 rally. The break opens 1.1795, Apr 6 low. GBPUSD is trading below 1.3787, Jun 21 low. The break signals scope for weakness towards 1.3717, Apr 16 low. USDJPY remains firm and has cleared 111.30, Mar 26, 2020 high. The focus turns to 111.71/86, Mar 24, 2020 high and 1.0% 10-dma envelope. Scope also exists for a climb towards 112.23, Feb 20, 2020 high.
  • On the commodity front, Gold broke lower Tuesday and breached support at $1761.1, Jun 18 low. The break highlighted resumption of the downtrend that started Jun 1 and note, the move also confirmed a bear flag that developed during the most recent consolidation phase. The focus is on $1733.5, 76.4% retracement of the Mar 8 - Jun 1 rally. Resistance to watch is at $1795.0, Jun 23 high. The Oil market trend condition remains bullish. Brent (U1) focus is $77.86, 1.382 projection of Mar 23 - May 18 - May 21 price swing. Support lies at $73.21, the 20-day EMA. WTI (Q1) sights are set on $77.35, 1.618 projection of Mar 23 - May 18 - May 21 price swing. Watch support at $71.72, the 20-day EMA.
  • Within FI, Bund futures are firmer. Key short-term directional triggers are unchanged at; support at 171.67, Jun 22 low and resistance at 173.16, Jun 11 high. Key support in Gilt futures are approaching key resistance at 128.39, Jun 11 high. A break would open 128.50, 1.00 projection of the May 13 - 26 - Jun 3 price swing. Key pivot support is at 126.70, Jun 3 low.
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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