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TECHS: Price Signal Summary - USD Remains Soft

MARKET INSIGHT
  • In the equity space, S&P E-minis have traded to fresh cycle highs and maintain a clear bullish tine. The focus is on 4239.26, 1.764 projection of the Feb 1 - Feb 16 - Mar 4 price swing and the 4300.00 handle. EUROSTOXX 50 futures have cleared the psychological hurdle of 4000.00. The trend remains up and the focus is on 4099.00 1.00 projection of the Mar - Jul - Oct 2020 price swing.
  • In FX, EURUSD maintains a firmer tone following Friday's gains and the break of 1.2150, Apr 29 high. The focus is on 1.2184, Feb 26 high and 1.2243, Feb 25 high. GBPUSD is firm today and extending Friday's rally. A number of immediate resistance levels have been cleared. The focus is on 1.4103, 76.4% retracement of the Feb 24 - Apr 12 downleg. USDJPY short-term support has been defined at Friday's low of 108.34. A bullish theme remains intact while this level holds and attention is on 109.70, May 3 high. A break of support would highlight a move below the trendline drawn off the Jan 6 low and risk a deeper pullback.
  • On the commodity front, the Gold outlook is bullish and the uptrend has resumed. This has opened $1851.5, 61.8% retracement of the Jan 6 - Mar 8 sell-off. Oil is off recent highs but the uptrend remains intact. The {7I} Brent (N1) focus is on the psychological $70.00 level and $71.75, Jan 8 2020 high (cont). WTI bulls are eyeing the key resistance at $67.29, Mar 8 high.
  • In the FI space, Bunds (M1) have recently breached 170.05, 76.4% of the Feb 25 - Mar 25 rally. This opens 169.24, Feb 25 low and the bear trigger. Near-term risk in Gilts is still skewed to the downside. The next support and intraday bear trigger is at 127.32, Apr 1 low.
Fixed Income Technical AnalysisForeign Exchange Technical AnalysisHomepagemarkets-real-timeAT&T Market NewsBank of America Market NewsBulletMarketsFixed Income BulletsForeign Exchange Bullets
Fixed Income Technical AnalysisForeign Exchange Technical AnalysisHomepagemarkets-real-timeAT&T Market NewsBank of America Market NewsBulletMarketsFixed Income BulletsForeign Exchange Bullets

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