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21 September 2017
By Kyle Shortland
Please click on this link to access MNI's daily European FI Technical Analysis
Pdf - http://tinyurl.com/nhjogts
BUND TECHS: (Z17) 160.50-76 Support Region Key
*RES 4: 161.51 Hourly resistance Sept 15
*RES 3: 161.42 High Sept 18
*RES 2: 161.22 Hourly support Sept 20a now resistance
*RES 1: 161.01 Hourly support Sept 20 now resistance
*PREVIOUS CLOSE: 160.97
*SUP 1: 160.76 Low Sept 19
*SUP 2: 160.60 55-DMA, 100-DMA
*SUP 3: 160.50 Low Aug 16
*SUP 4: 159.79 Low Aug 2
*COMMENTARY: The correction from 163.43 continues to dip below the bull channel
base (161.10) with the 160.50-76 support region key. Bears need a close below
160.50 to confirm breaks of key supports, ending bullish hopes and hinting at a
test of 2017 lows with below 159.58 confirming. The Bolli base (160.85) is the
key concern for bears. Bulls still need a close above 161.51 to ease bearish
pressure and above 162.15 to shift focus higher, initially targeting 162.89.
BOBL TECHS: (Z17) Bears Need Close Below 130.90
*RES 4: 131.32 Low Sept 14 now resistance 
*RES 3: 131.27 High Sept 20 
*RES 2: 131.20 Hourly support Sept 20a now resistance 
*RES 1: 131.14 Hourly support Sept 20 now resistance
*PREVIOUS CLOSE: 131.07
*SUP 1: 131.02 Low Sept 20
*SUP 2: 130.91 55-DMA
*SUP 3: 130.90 Low Aug 16
*SUP 4: 130.68 Low Aug 3
*COMMENTARY: The contract now remains capped ahead of 131.32 with layers of
resistance building and weighing. Bears continue to look for a close below
130.90 to confirm a break of the 55-DMA, ending bullish hopes and shifting
immediate focus to 130.53-68. O/S studies and the Bollinger base (131.085) are
key concerns for bears. Bulls now need a close above 131.14 to gain breathing
room and above 131.32 to shift focus to 131.51-64.
SCHATZ TECHS: (Z17) 112.110-171 Resistance Region Key
*RES 4: 112.205 High Sept 14 
*RES 3: 112.171 21-DMA 
*RES 2: 112.145 High Sept 19 
*RES 1: 112.110 Hourly support Sept 20 now resistance
*PREVIOUS CLOSE: 112.095
*SUP 1: 112.080 Bollinger band base 
*SUP 2: 112.070 Low Sept 20 
*SUP 3: 112.017 55-DMA 
*SUP 4: 112.015 Low Aug 17
*COMMENTARY: Bears took comfort in a close below the 21-DMA Friday that shifted
focus lower with bears now targeting 112.015-017 where the 55-DMA is noted. The
Bolli base is the key concern for bears and limits follow through. Layers of
resistance are weighing and adding to bearish confidence. Bull now need a close
above 112.110 to ease immediate bearish pressure and above the 21-DMA to shift
focus back to 112.277-285 where the 100-DMA and Sept highs are noted.
GILT TECHS: (Z17) 124.65-125.21 Resistance Region Key
*RES 4: 125.21 High Sept 15 
*RES 3: 124.91 Low Sept 14 now resistance 
*RES 2: 124.65 High Sept 19 
*RES 1: 124.36 High Sept 20
*PREVIOUS CLOSE: 124.11
*SUP 1: 123.82 Low Sept 20 
*SUP 2: 123.17 Low Feb 2 
*SUP 3: 122.60 2017 Low Jan 26 
*SUP 4: 121.64 Low June 23 2016
*COMMENTARY: Layers of resistance are again accumulating and weighing on the
contract with bears currently focused on tests of 2017 lows. O/S daily studies
and the Bollinger base (123.98) remain concerns for bears. Bulls now need a
close above 124.65 to ease bearish pressure and above 125.21 to shift focus back
to 125.89-126.18 where 55 & 100-DMAs are situated.
SHORT-STERLING TECHS: (H18) 99.230 Support Now Key
*RES 4: 99.450 Low Sept 13 now resistance
*RES 3: 99.410 High Sept 15
*RES 2: 99.390 Monthly Lows June 30 now resistance
*RES 1: 99.360 Highs Sept 18 & 19
*PREVIOUS CLOSE: 99.340
*SUP 1: 99.310 Low Sept 20
*SUP 2: 99.230 High June 21 2016 now support
*SUP 3: 99.110 Monthly Low June 23 2016
*SUP 4: 99.040 Monthly Low May 31 2016
*COMMENTARY: Losses have continued for the H18 contract this week with bearish
focus now on 99.230 with a close below needed to target 98.980-99.040 where Apr
& May 2016 lows are situated. Very O/S studies and the Bollinger base (99.320)
remain key concerns for bears. Initial resistance is noted at 99.360 with bulls
needing a close above to gain breathing room. A close above 99.410 shifts focus
back to the 200-DMA (99.510).
EURIBOR TECHS: (H18) Below 55-DMA To Pressure 100-DMA
*RES 4: 100.330 - High Oct 19 
*RES 3: 100.325 - 2017 High Sept 5-8 
*RES 2: 100.320 - Repeated Daily highs 
*RES 1: 100.313 - 21-DMA
*PREVIOUS CLOSE: 100.305
*SUP 1: 100.305 - Repeated daily lows Aug
*SUP 2: 100.300 - Alternating daily support/resistance
*SUP 3: 100.297 - 55-DMA
*SUP 4: 100.285 - 100-DMA
*COMMENTARY: Topside hesitation ahead of recent 2017 highs took its toll with a
close below 100.310 that confirmed an easing of bullish pressure and sees focus
on the 55-DMA. Bears look for a close below the 55-DMA to initially pressure the
100-DMA and below 100.275 to shift focus to the 200-DMA (100.256). Bulls need a
close above the 21-DMA to return initial focus to 100.320-325. The Bollinger
base (100.304) is the key concern for bears.
US 10-YR FUTURE TECHS: (Z17) Bears Focused On July Low
*RES 4: 126-010 - 55-DMA 
*RES 3: 125-300 - Low Sept 19 now resistance 
*RES 2: 125-270 - 100-DMA 
*RES 1: 125-230 - Hourly resistance Sept 20
*PRICE: 125-200 @ 0430GMT
*SUP 1: 125-170 - Low Aug 8 & Sept 20
*SUP 2: 125-040 - Low July 26 
*SUP 3: 125-030 - Daily Bear channel base
*SUP 4: 124-280 - Low July 12
*COMMENTARY: The sell-off from 127-280 continues with the close below the
100-DMA & 55-WMA (125-260) confirming immediate focus on the 125-170 support and
overall focus on 124-140 July lows. O/S daily studies and the Bollinger base
(125-180) remain key concerns for bears. In saying that, layers of resistance
continue to build with bulls now needing a close above 125-300 to ease bearish
pressure and above 126-090 to hint at a correction to 126-270.
US 10-YR YIELD TECHS: 2.290 Resistance Now Key
*RES 4: 2.337 - Repeated Daily Highs July 
*RES 3: 2.331 - 200-DMA 
*RES 2: 2.290 - High Aug 4 
*RES 1: 2.287 - High Sept 20
*PRICE: 2.275 @ 0430GMT
*SUP 1: 2.266 - Hourly support Sept 20 
*SUP 2: 2.246 - High Sept 19 now support 
*SUP 3: 2.222 - Low Sept 19 
*SUP 4: 2.208 - Low Sept 18
*COMMENTARY: The closes above 55 (2.232) & 100 (2.238) DMAs adds to bullish
confidence with immediate pressure now on 2.290. Bulls need a close above to
confirm immediate focus on 2.331-337 where the 200-DMA and daily highs are
located. O/B studies and the Bollinger top (2.276) are key concerns for bulls.
Layers of support are accumulating with bears now needing a close below 2.246 to
ease bullish pressure and below 2.208 to shift focus lower.
EUROSTOXX50 TECHS: Below 3497.29 To Shift Focus Lower 
*RES 4: 3581.43 High June 26 
*RES 3: 3555.37 High June 29 
*RES 2: 3539.48 Monthly High July 13 
*RES 1: 3537.22 High Sept 18
*PREVIOUS CLOSE: 3525.55
*SUP 1: 3520.72 Low Sept 20 
*SUP 2: 3506.61 Low Sept 13 
*SUP 3: 3497.29 High Aug 16 now support 
*SUP 4: 3480.60 Hourly support Sept 11
*COMMENTARY: Hesitation ahead of 3539.48 and O/B studies are concerns with bulls
continuing to look for a close above 3539.48 to shift initial focus to 3615.06
and overall focus to 2017 highs (3666.80). Layers of support remain and add
support to the bullish case. Bears now need a close below 3520.72 to ease
immediate pressure on 3539.48 and below 3497.29 to shift initial focus back to
3439.79-3470.42 where key DMAs are clustered.
--MNI Beijing Bureau; tel: +44 207-862-7435; email: kyle.shortland@mni-news.com
[TOPICS: MTABLE]

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