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Price Signal Summary - USD Uptrend Extends

MARKET INSIGHT
  • In the equity space, S&P E-minis remain vulnerable following Tuesday's sharp move lower. The contract remains below the 50-day EMA - the average intersects at 4405.51 and represents initial resistance. A deeper sell-off would expose key support at 4293.75, Sep 20 low. EUROSTOXX 50 futures remain below recent highs. A deeper pullback would expose key support at 3974.00, Sep 20 low. 4113.30, the 50-day EMA is initial resistance.
  • In FX, EURUSD remains in a downtrend. The pair has cleared key support at 1.1664, Aug 20 low to confirm a resumption of its downtrend. The focus is on 1.1581, Jul 24, 2020 low and 1.1493, 50.0% retracement of the Mar '20 - Jan '21 bull phase. GBPUSD remains under pressure following this week's sell-off. The focus is on 1.3354 next, Dec 23, 2020 low. USDJPY has traded through key resistance at 111.66, Jul 2 high and the bull trigger. The clear break strengthens a bull case and opens 112.23, Feb 20, 2020 high.
  • On the commodity front, Gold traded lower again yesterday and the trend needle still points south. The focus is on $1690.6, Aug 9 low and the bear trigger. WTI futures remain below Tuesday's high of $76.67. Dips are considered corrective and firm support is seen at $73.58, Jul 6 high and a recent breakout level.
  • In FI, Bund futures remain in a clear downtrend with the focus on 169.46, 1.50 projection of the Sep 9 - 17 - 21 price swing. Short-term gains are considered corrective. Gilt futures remain heavy despite the rebound from Tuesday's low of 124.84. Resistance is seen at 126.44, Sep 24 high. Treasuries remain in a downtrend. Scope is seen for weakness towards 131-03+, Jun 25 low. Gains are also 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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