ES is a little congested on our 60 mins time frame, so as mentioned yesterday, we would rather focus on the daily chart, which is bearish while sitting on a support level right now. Having said that the 30mins chart is following a Fib pattern from yesterday’s high and reached a target on 1086. Bearish energy is fading a little but erosion should continue today anyway, particularly if prices stay now below 1093. We’re still on a low to mid 1070s target on the daily chart for now, where a strong bounce can occur. We’ll update this outlook in due course.
TF is on a salient support level on 610, but here again selling pressure should allow it to break at some point. There may be some short term congestion though.
EURUSD: nothing new really. We’re still on a target near range lows i.e. around 1.404
This is a strong support area on higher time frames, and while we don’t see a bounce coming right now, such a setup may be forming soon. We’ll check it out over the next few days.
( Poster 7:40 AM UK )
