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Price Signal Summary - USD Trend Outlook Remains Bullish

MARKET INSIGHT
  • In the equity space, the outlook is unchanged in the S&P E-minis and a bullish theme remains intact. The contract has recovered from recent lows and attention is on a climb towards 4717.00 next, 1.50 projection of the Jul 19 - Aug 16 - Aug 19 price swing. Initial support to watch is 4599.19, the 20-day EMA. EUROSTOXX 50 futures uptrend remains intact and the contract has registered a fresh trend high today of 4373.00, reinforcing bullish conditions. Attention is on the 4400.00 handle.
  • In FX, a sharp sell-off in EURUSD last week confirmed a resumption of the downtrend and conditions remain bearish. The focus is on 1.1375 next, 1.382 projection of the Jan 6 - Mar 31 - May 25 price swing. GBPUSD remains vulnerable following the sharp sell-off on Nov 10. The break of 1.3412, Sep 29 low, opens 1.3334 next, 1.00 projection of the Sep 14 - 29 - Oct 20 price swing. The Nov 10 candle pattern in USDJPY is a bullish engulfing reversal. This pattern signals scope for a climb towards key resistance at 114.70, Oct 20 high. Key support has been defined at 112.73, Nov 9 low.
  • On the commodity front, Gold maintains a firmer tone and is trading near recent highs. The focus is on $1877.7 next, Jun 14 high ahead of the $1900.00 handle. WTI key resistance remains at $85.41, Oct 25 high where a would confirm a resumption of the uptrend. On the downside, key S/T support to watch is $78.25, Nov 4 low.
  • In the FI space, Bund futures maintain a bullish short-term tone . The focus is on 171.95, 61.8% of the Aug - Nov sell-off. Gilts also maintain a firmer tone. The focus is on a climb towards 127.69 next, Sep 21 high. The recent pullback is considered corrective.
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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