FINLAND T-BILL AUCTION PREVIEW: On offer next week

• RES 4: 94.50 High Apr 7 and key resistance   
• RES 3: 94.00 Round number resistance       
• RES 2: 93.44 76.4% retracement of the Apr 7-9 sell-off 
• RES 1: 93.34 High Apr 25                           
• PRICE: 93.15 @ Close Apr 25
• SUP 1: 92.22 20-day EMA                                      
• SUP 2: 91.73/91.43 Low Apr 17 / 15 
• SUP 3: 90.47/89.99 Low Apr 11 / 9     
• SUP 4: 89.68 Low Jan 15 (cont) 

Gilt futures traded higher last week. The climb marks an extension of the recovery that started Apr 9 and the rally cancels a recent bearish theme. 92.63, the Apr 8 high, has been breached, exposing 93.44, the 76.4% retracement of the Apr 7-9 sell-off. A break of this level would strengthen the current bull cycle and expose 94.50, the Apr 7 high and a key resistance. Support to watch is 92.22, the 20-day EMA.

• RES 4: 147.26 50-day EMA   
• RES 3: 146.54 Low Mar 11  
• RES 2: 144.47 20-day EMA
• RES 1: 144.03 High Apr 25
• PRICE: 143.49 @ 06:56 BST Apr 28
• SUP 1: 141.49 Low Apr 23   
• SUP 2: 139.79 1.382 proj of the Feb 12 - Mar 11 - 28 price swing
• SUP 3: 138.82 1.500 proj of the Feb 12 - Mar 11 - 28 price swing
• SUP 4: 138.07  Low Jul 28 ‘23

Recent gains in USDJPY are considered corrective. Resistance to watch is 144.47, the 20-day EMA. A clear break of this level would signal scope for a stronger recovery. Resistance at the 50-day EMA, is at 147.26. Moving average studies are in a bear-mode position highlighting a dominant downtrend. A resumption of the trend would open 139.79 next, a Fibonacci projection. 

• RES 4: 5341.00 High Mar 27  
• RES 3: 5263.01 76.4% retracement of the Mar 3 - Apr 7 bear leg 
• RES 2: 5165.00 High Apr 3
• RES 1: 5101.10/5140.00 50-day EMA / High Apr 25             
• PRICE: 5108.00 @ 06:36 BST Apr 28 
• SUP 1: 4959.00/4812.00 Low Apr 23 / 16 and a key support                      
• SUP 2: 4664.00 Low Apr 10
• SUP 3: 4444.00 Low Apr 7 and the bear trigger         
• SUP 4: 4336.00 Low Nov 28 ‘23 (cont)     

Eurostoxx 50 futures are holding on to their recent gains. The contract has cleared the 20-day EMA and pierced resistance at the 50-day EMA, at 5101.10. A clear break of this average would strengthen the current bull cycle and signal scope for a continuation of the corrective uptrend. This would open 5165.00 next, the Apr 3 high. On the downside, support to watch lies at 4812.00, the Apr 16 low. Clearance of this level would highlight a reversal.