BUND TECHS: (Z5) Monitoring Support At The 50-Day EMA
- RES 4: 130.63 1.500 proj of the Sep 3 - 10 - 25 price swing
- RES 3: 130.59 High Oct 17 and the bull trigger
- RES 2: 130.07 High Oct 24
- RES 1: 129.47/129.73 Intraday high / High Oct 28
- PRICE: 129.32 @ 05:49 GMT Nov 5
- SUP 1: 129.06 Low Nov 3
- SUP 2: 128.92 61.8% retracement of the Sep 25 - Oct 17 bull leg
- SUP 3: 128.52 76.4% retracement of the Sep 25 - Oct 17 bull leg
- SUP 4: 128.25 Low Oct 7
Bund futures are trading closer to their recent lows. Short-term conditions remain bearish. Note that the move down that started on Oct 17 still appears corrective and has allowed an overbought trend condition to unwind. Price has pierced a key support at 129.14, the 50-day EMA. A clear break of this EMA would signal scope for a deeper retracement and open 128.92, a Fibonacci retracement. First important resistance is 129.73, Oct 28 high
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USDJPY TECHS: Gaps Higher
- RES 4: 151.62 61.8% retracement of the Jan 10 - Apr 22 bear leg
- RES 3: 151.21 High Mar 28
- RES 2: 150.92 High Aug 1 and a key resistance
- RES 1: 150.44 Intraday high
- PRICE: 150.18 @ 07:02 BST Oct 6
- SUP 1: 149.05 Intraday low
- SUP 2: 147.86 20-day EMA
- SUP 3: 146.53 Trendline support drawn from the Apr 22 low
- SUP 4: 145.49
USDJPY has started the week on a strong bullish note, gapping higher. Today’s rally has resulted in a breach of resistance at 149.96, the Sep 26 high and a key short-term resistance. This paves the way for a test of the key medium-term resistance at 150.92, the Aug 1 high. A break of this hurdle would confirm a resumption of the bull leg that started Apr 22. Today’s intraday low at 149.05 is the first support.
EUROSTOXX50 TECHS: (Z5) Bulls Remain In The Driver’s Seat
- RES 4: 5777.41 1.382 proj of the Aug 1 - 22 - Sep 2 price swing
- RES 3: 5727.18 1.236 proj of the Aug 1 - 22 - Sep 2 price swing
- RES 2: 5700.00 Round number resistance
- RES 1: 5689.00 High Oct 2
- PRICE: 5669.00 @ 06:37 BST Oct 3
- SUP 1: 5621.00/5525.00 Low Oct 2 / High Aug 22
- SUP 2: 5503.06 20-day EMA
- SUP 3: 5440.97 50-day EMA
- SUP 4: 5366.00 Low Sep 17
Eurostoxx 50 futures maintain a bullish theme. Last week’s gains resulted in a breach of key resistance at 5525.00, the Aug 22 high. The break confirms a resumption of the uptrend. The impulsive climb opens the 5700.00 handle next, with potential for a test of 5727.18 further out, a Fibonacci projection. Moving average studies are in a bull-mode position, highlighting a dominant uptrend. Initial firm support is 5525.00, the Aug 22 high.
