S

&P 500 e-mini futures rallied to 4,180 but failed to clear the 4,200 peak and reversed, extending its losses to a 1-month low at 3,850. If bulls reclaim the 4,000 handle, 4,100 comes back on the radar. Otherwise, bearish bets might rise, bringing 3,800 back in focus. Losing the support would suggest bullish interest may start increasing lower down near 3,720 or 3,640.

S&P 500 Futures

Nasdaq soared from 12,000 to 13,000 before sliding back below the trend’s origin, forming a local low at 11,780. Lack of bullish momentum might send the index towards 11,500, with 11,000 a great opportunity to exit short bets. Bulls have not been successful around 12,000 to regain control of 12,260 but in case momentum accelerates 12,500 is major resistance.

NASDAQ Futures

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DJIA offered ample liquidity at 31,000 to teleport to 32,800 but the trend concluded after a steep drop below the origin. Weak efforts to retain the 31,000 floor might put a dent in short-term sentiment, clearing the path to 30,300 and 30,000. A break below the stronghold might find support at 29,600. Inversely, if 31,600 traps bears, 32,000 is a key level.

Dow Jones Industrial Average Futures

The Russel’s upward trajectory came to a halt at 1,925 and flipped into a reversal after losing 1,845. The low of 1,780 initiated a bounce above 1,800 but the lack of velocity hints at a rangebound price action at best. A break below the low might trigger a fall to 1,730 and 1,695, with a move past the top exposing 1,900 in case momentum gets a bump.

Russell 2000 Futures

The EuroDollar pair stalled at 1,0200 and drifted back below parity, where it found support. The bounce towards 1,0040 printed hastily as the round level attracted enough bulls. With its breach extending prices to 1,0100. Failing to surge above there might encourage renewed profit-taking back to parity, but losing the base might extend the toll towards 0,9864. News of US rate hikes next week, combined with geopolitical uncertainty, and questions as to which European nations will have adequate energy for the coming winter, will generate significant volatility in the coming weeks. The outcome of the midterm elections may play a part too.

Euro/USD Exchange Rate
Posted 
Sep 19, 2022
 in 
Technical Research Briefing
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