EU REAL ESTATE: TAG Immobilien AG: equity raise and tap of convert (x2)

• RES 4: 1.3920 High May 21  
• RES 3: 1.3862 High May 29 
• RES 2: 1.3798 High Jun 23  
• RES 1: 1.3746/74 50-day EMA / High Jul 17 
• PRICE: 1.3719 @ 08:00 BST Jul 21
• SUP 1: 1.3639/3557 Low Jul 08 / 03
• SUP 2: 1.3540 Low Jun 16 and the bear trigger
• SUP 3: 1.3503 1.618 proj of the Feb 3 - 14 - Mar 4 price swing
• SUP 4: 1.3473 Low Oct 2 2024

USDCAD is unchanged and trades closer to its recent highs. Attention is on resistance at 1.3746, the 50-day EMA. It has been pierced. A clear break of it is required to highlight a possible stronger S/T reversal. This would open 1.3798, Jun 23 high. For now, a bear trend remains in place. A resumption of weakness would refocus attention on key support at 1.3540, the Jun 16 low. Clearance of this level would confirm a resumption of the downtrend. 

Futures called 91.35-45 at the open.

The rally in European equity index futures takes the major contracts back towards unchanged levels, although they still operate below Friday’s settlement:

• Euro Stoxx 50 futures: -0.04%
• DAX futures: -0.05%
• CAC 40 futures: -0.07%
• FTSE MIB Futures -0.17%
• FTSE 100 futures: -0.05%
• SMI futures: -0.17%