SCHATZ TECHS: (M5) Retracement Mode

• RES 4: 0.8800 Round number resistance      
• RES 3: 0.8781 2.236 proj of the Mar 3 - 11 - 28 price swing
• RES 2: 0.8768 High Nov 20 ‘23
• RES 1: 0.8738 High Apr 11 
• PRICE: 0.8674 @ 06:36 BST Apr 14 
• SUP 1: 0.8520/0.8470 Low Apr 10 / 20-day EMA 
• SUP 2: 0.8405 50-day EMA
• SUP 3: 0.8316 Low Mar 28 and a key near-term support   
• SUP 4: 0.8299 Low Mar 5

A bull trend in EURGBP remains intact and the cross is trading closer to its recent highs. The uptrend has entered an extreme overbought region following the latest impulsive rally. A corrective pullback would allow this condition to unwind. For bulls, sights are on 0.8781 next, a Fibonacci projection point. On the downside, initial firm support lies at 0.8470, the 20-day EMA.

• RES 4: 107.812 0.618 proj of the Mar 6 - Apr 7 - 9 price swing     
• RES 3: 107.800 Round number resistance    
• RES 2: 107.775 High Apr 7 and the bull trigger
• RES 1: 107.680 High Apr 9                   
• PRICE: 107.410 @ 06:12 BST Apr 14     
• SUP 1: 107.130/106.965 20-day EMA / Low Apr 9   
• SUP 2: 106.830 Low Mar 27    
• SUP 3: 106.728 76.4% retracement of the Mar 6 - Apr 7 bull cycle       
• SUP 4: 106.630 Low Mar 18     

Schatz futures remain below last week’s high. For now, the recent pullback appears corrective and has allowed an overbought condition to unwind. The trend condition remains bullish - price has recently traded through a key resistance at 107.120, the Mar 4 high. The break highlights a stronger bull cycle and signals scope for a climb towards 107.800. Initial firm support to watch lies at 106.965, the Apr 9 low.

• RES 4: 120.20 High Dec 12 ‘24 (cont)           
• RES 3: 120.000 Psychological round number          
• RES 2: 119.960 High Apr 7 and the bull trigger
• RES 1: 119.470 High Apr 11                                    
• PRICE: 107.410 @ 06:12 BST Apr 14  
• SUP 1: 118.253/117.680 20-day EMA / Low Apr 9 / 1       
• SUP 2: 117.410 Low Mar 27   
• SUP 3: 117.126 76.4% retracement of the Mar 6 - Apr 7 bull cycle  
• SUP 4: 117.080 Low Mar 25 and a key short-term support    

Bobl futures remain below their recent highs. The latest move down - for now, appears corrective. The early April rally resulted in a break of key resistance at 119.040, the Feb 28 high. This strengthens bullish conditions and signals scope for a continuation. The focus is on the 120.000 handle next. The contract is overbought, a move down is allowing this condition to unwind. Initial firm support lies at 117.680, the Apr 9 low.