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TECHS: Price Signal Summary - USD Extends Gains

MARKET INSIGHT
  • In the equity space, S&P E-minis are consolidating but remain vulnerable following last week's selling pressure from 3978.50, Mar 18 high. The support to watch is 3875.00, Mar 19 low. A break would confirm a breach of the 20-day EMA and reinforce short-term bearish conditions.
  • In the FX space, EURUSD is weaker again this morning and has breached 1.1836, Mar 19 low. This opens 1.1800 next, the Nov 23 low. GBPUSD is weaker this morning. The pair has this week cleared 1.3779, Mar 5 low and a bear trigger. Note this also confirms a breach of the 50-day EMA and a bull channel base drawn off the Nov 2 low. The focus is on 1.3641, 38.2% retracement of the Sep 23 - Feb 24 bull cycle. USDJPY remains in an uptrend. Attention is still on 109.56, 76.4% of the Mar 2020 - Jan downleg and an important pivot resistance. Watch support at 108.34 Mar 10 low.
  • On the commodity front, a bullish theme in Gold remains in place following the recovery that started Mar 8. The focus is on $1779.3, the 50-day EMA. Support is at $1719.3, Mar 18 low. Oil contracts remain in bear mode. Weakness in Brent (K1) yesterday opens $58.56, 38.2% of the Nov 2 - Mar 8 rally. In WTI (K1), scope is for a move to $55.65, also the 38.2% of the Nov 2 - Mar 8 rally.
  • In the FI space:
    • Bunds (M1) have probed resistance at 172.20, Mar 11 high. A clear break would open 172.51 next, Feb 16 high.
    • Gilts (M1) have cleared resistance at 128.33, Mar 16 high, suggesting scope for an extension higher. The next key resistance is at 129.27, Mar 2 high.
    • Treasuries (M1) remain in a downtrend and gains are considered corrective. Resistance is at 132-09, Mar 17 high and today's intraday high. .
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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