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TECHS: Price Signal Summary - E-Mini S&P Back Below 3700

MARKET INSIGHT
  • A risk-off mood dominates the start of this week's market session. TheE-Mini S&P is trading lower with the price below 3700.00. The 20-day EMA at 3646.66 is initial support. A break would open 3620.75, Dec 12 low.
  • On the commodity front, Gold maintains a bullish tone. The focus is on $1918.2 next, 76.4% of the Nov 9 - 30 sell-off. Oil is down sharply today. Brent (G1) is back below $50.00 and eyeing support at $48.99, the 20-day EMA. WTI (G1) is approaching its 20-day EMA at $46.09. The average represents an important S/T support.
  • In the FX space, the USD is firmer this morning. EURUSD key near-term support is seen at 1.2088, the 20-day EMA. Note, a trendline support drawn off the Nov 4 low intersects at 1.2103. Cable together with Brexit matters weighing on sentiment, is approaching key support at 1.3135, Dec 11 low. A break would represent an import bearish development. EURGBP support at 0.8983, Dec 4 / 17 low survived a test last week. This remains a key pivot level - bullish above, bearish below. The cross is approaching key resistance at 0.9230, Dec 11 high. A break would open 0.9292, Sep 11 high.
  • Key support in the Bund (H1) lies at 177.31, trendline drawn off the Nov 11 low. Further gains would open 178.77, Dec 1 high. Gilts (H1) have gapped higher and bulls eye 135.99 key resistance, Dec 11 high. Treasuries are firmer with bulls eyeing resistance at 138-08, Nov 20 / 30 high.
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Fixed Income Technical AnalysisForeign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsFixed Income BulletsForeign Exchange Bullets

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