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TECHS: Price Signal Summary - Bund Extend Bounce

MARKET INSIGHT
  • E-mini S&P futures are consolidating. The trend outlook remains bullish following last week's breach of resistance at 3824.50, Jan 8 high. The focus is on 3900.00 next.
  • In FX, recent gains in EURUSD are considered corrective. Levels to watch are:
    • Support at 1.2054, Jan 18 low and trigger for 1.2011, Sep 1 high.
    • Resistance is at 1.2230, Jan 11 high.
  • USDJPY is still trading below the bear channel top drawn off the Mar 24 high that intersects at 104.02 today. A break is required to signal a reversal.
    • Last week's move lower has exposed 103.28 and 103.02, 61.8% and 76.4 % of the Jan 6 - 11 rally.
  • The EURGBP outlook remains bearish. Last week's key development was the breach of 0.8867 and 0.8861, the Nov 23 and Nov 11 lows. Resistance to watch is 0.8925, Jan 18 high. Scope is seen for a move to 0.8808,
  • On the commodity front, the Gold outlook appears bullish following the Jan 20 rally that signals a possible reversal of the Jan 6 - 18 sell-off. Price has tested the 20- and 50-day EMAs where a clear break would open $1900.3, 76.4% of the Jan 6 - 11 rally. Clearance of support at $1832.6, Jan 20 low would expose recent lows. Oil contracts remain above support. Brent (H1) support to watch is $54.29, the 20-day EMA and WTI (H1) support is at $51.14, also the 20-day EMA.
  • In the FI space:
    • Bunds (H1) are firm this morning and have extended Friday's recovery from the day low of 176.63. A clear breach of 177.56, Jan 21 high would expose 177.96, Jan 14 high and a key resistance.
    • Key resistance to watch in Gilts (H1) remains the 20- and 50-day EMAs. They intersect at 134.47/60.
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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