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TECHS: Price Signal Summary - E-Minis S&P Futures Eyeing 4000.00

MARKET INSIGHT
  • Equity indices remain bullish, E-mini S&P futures have edged higher and are moving towards the psychological 4000.00 handle. An initial objective is at 3988.40, 2.236 projection of the Sep 24 - Oct 12 - Oct 30 price swing last year.
  • In the FX space, EURUSD trades above the recent range highs and attention is on 1.2190, Jan 22 high. The key support to watch in the USD Index is 90.05, Jan 21 low. A break would negate the recent reversal pattern and strengthen a USD bearish argument. USDJPY key resistance is at 105.77, Feb 5 high. EURGBP outlook remains bearish with scope for an extension below 0.8700. The next objective is 0.8691, May 5 low, 2020.
  • On the commodity front, Gold stalled at $1855.5, last week. Key support lies at $1785.0, Feb 4 low. Oil contracts are firm. Brent (J1) targets $64.58, Jan 22 high, 2020 (cont). WTI (H1) bulls eye $61.11, 1.500 projection of Apr - Aug rally from the Nov 2 low
  • In the FI space, Bunds (H1) are heavy and target 175.07 1.50 projection of the Jan 4 - 12 sell-off from the Jan 27 high. Gilts (H1) have gapped lower and target 131.01 2.50 projection of the Dec 11 - 24 sell-off from the Jan 4 high. Treasuries key support and the bear trigger is at 136-01, Jan 12 low. A break would reinforce the bearish theme open 135-25+, 76.4% of the rally between Mar - Aug 2020.
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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