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Major Support & Resistance (pivot points – explained):
Pivot Point: 6838; Support 1, 2 & 3: 6814, 6794, 6772; Resistance 1, 2 & 3: 6857, 6879, 6899
After the narrow range of Monday and since the break below 6830 yesterday we may be in another of those ‘wait-and-see’ holding patterns that traders and markets tend to adopt ahead of key news – in this case the ECB policy update tomorrow and the latest US jobs report on Friday – especially when so close to recent highs. Watch levels are 6815 and 6840 for a breakout or breakdown.
That’s not to say there are no potential catalysts for a break higher or lower today with ECB talk a plenty, Eurozone GDP and PPI which could put pressure on the central bank to act as well as the US ADP warm-up for Friday’s Non-Farm Payrolls and US Services sector updates (ISM and PMI).
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Solid Green line
Possible support
Solid Red line
Possible resistance
Important: The information provided above does not constitute advice or opinion and must only be regarded as technical observations.
Click here for help with Support & Resistance Click here for help with technicals
Solid Green line
Possible support
Solid Red line
Possible resistance
Important: The information provided above does not constitute advice or opinion and must only be regarded as technical observations.
Click here for help with Support & Resistance Click here for help with technicals
Solid Green line
Possible support
Solid Red line
Possible resistance
Important: The information provided above does not constitute advice or opinion and must only be regarded as technical observations.
Click here for help with Support & Resistance Click here for help with technicals
Solid Green line
Possible support
Solid Red line
Possible resistance
Important: The information provided above does not constitute advice or opinion and must only be regarded as technical observations.
Click here for help with Support & Resistance Click here for help with technicals
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