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Late Risk Appetite Gathers Momentum

USDCAD TECHS

Fresh Bear Cycle Low

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AUDUSD TECHS

Bullish Extension

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Probes Key Resistance

EUROSTOXX50 TECHS
  • RES 4: 3630.53 0.618 proj of Mar 16 - Jul 21 rally from Oct 29 low
  • RES 3: 3553.05 High Feb 27
  • RES 2: 3498.07 76.4% retracement of the Feb - Mar sell-off
  • RES 1: 3460.08 High Nov 9
  • PRICE: 3442.62 @ Close Nov 10
  • SUP 1: 3396.02 High Sep 3
  • SUP 2: 3311.59 Former channel top drawn off the Jul 21 high
  • SUP 3: 3305.77 High Oct 12
  • SUP 4: 3217.40 Intraday low

EUROSTOXX 50 gains Monday and yesterday's follow through has resulted in a probe of the Jul 21 high of 3451.16 key resistance. Clearance of this resistance would confirm a resumption of the broader recovery since March The first objective would be 3498.07, the 76.4% retracement of the Feb - Mar sell-off. A move through this retracement would expose 3600.00 further out. 3396.02 is first support

MNI London Bureau | +44 203-586-3805 | taso.anastasiou.ext@marketnews.com

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