Some will say my scenario was off by a day as ES rose to close to 1080 yesterday morning intead of Monday. The 1062 level would have to be tested for support to go higher, which is from unclear (short-term) to unlikely (mid to long term).
ES is almost bound to go back to the lower price segment ([1031-1062]) and even test its lows in a matter of a week or two.
TF only briefly penetrated the 594 key level and should now resume south to the 578 then 562 area. We have a closer target around 583 in the short term.
EURUSD is just about above our support area [1.367-175] provided in previous reports. This is a rather confusing area where short time frames dominate. The longer time frames are still pushing down, but support is quite strong, so sellers may be exhausted after a while. Short time frames now display 1.373 and 1.367 as very strong support levels, yet 1.379 is an important resistance, so there could be quite a bit of yo-yo inside yesterday’s range today.
( Posted 6:40 AM UK )
