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MARKET INSIGHT

Price Signal Summary - EURUSD Bear Flag?

PORTUGAL T-BILL AUCTION RESULT

3/11-month BTs

GERMAN AUCTION RESULTS

New 0% Aug-31 Bund

SHORT-STERLING OPTIONS

Vol short cover

FOREX

FX SUMMARY- All eyes on Fed

(H1) Focus Is On Trendline Support

BUND TECHS
  • RES 4: 178.89 1.00 proj of Nov 11 - 30 rally from Dec 2 low
  • RES 3: 178.77 High Dec 11
  • RES 2: 178.31 High Dec 16
  • RES 1: 177.79 50% of Wednesday's range
  • PRICE: 177.77 @ 04:37 GMT Dec 18
  • SUP 1: 177.26 Trendline support drawn off the Nov 11 low
  • SUP 2: 177.14 76.4% retracement of the Dec 2 - 11 rally
  • SUP 3: 176.83 Low Dec 3
  • SUP 4: 176.63 Low Dec 2 and the near-term bear trigger

Bund futures sold off sharply Wednesday as the contract retraces the recent rally between Dec 2 - 11. The 20-day EMA has been breached, placing on hold a recent bullish view. Further weakness would open 177.26, a trendline support drawn off the Nov 11 low and 177.14, 76.4% retracement of the Dec 2 - 11 rally. Clearance of these levels would open 176.63, the Dec 2 low. On the upside, initial firm resistance is at Wednesday's 178.31 high.

MNI London Bureau | +44 203-586-3805 | taso.anastasiou.ext@marketnews.com