Market Report (Update) for April 26th 2011

by bv on April 26, 2011

Daily morning market report on futures and forex: ES, TF, EURUSD and US (T-Bond Fut.)
Update: please also refer to : http://www.foretrade.com/blog/reportd/market-report-for-april-22nd-2011/

 

- ES is weakening a bit to now test (2H-) resilence level (1326-1328). The (4H+) outlook remains of a bullish congestion, however the range may expand to allow a retracement to lower Fid (1319).

 

- TF is still subject to significant slowdown on strong 843 resistance. Resilience level should be tested again and here as well, a lower Fib to 833 cannot be excluded.

 

- EURUSD is currently attempting to break 452-453 resilience and may well shed another 40 to 50 pips if the Euro does not creep back above quickly. At this time, a bounce is likely, yet the resistance level above 460 hit last week is so strong that profit taking would make a lot of sense.

 

- US: same bullish congestion to high 121s. One cannot discard a breakout scenario, eventhough (D/W) are not exactly in a bullish configuration.

 

( Posted 7:20 AM UK )

 

 

 

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