-
Policy
Policy
Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
LATEST FROM POLICY: -
EM Policy
EM Policy
Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
LATEST FROM EM POLICY: -
G10 Markets
G10 Markets
Real-time insight on key fixed income and fx markets.
Launch MNI PodcastsFixed IncomeFI Markets AnalysisCentral Bank PreviewsFI PiFixed Income Technical AnalysisUS$ Credit Supply PipelineGilt Week AheadGlobal IssuanceEurozoneUKUSDeep DiveGlobal Issuance CalendarsEZ/UK Bond Auction CalendarEZ/UK T-bill Auction CalendarUS Treasury Auction CalendarPolitical RiskMNI Political Risk AnalysisMNI Political Risk - US Daily BriefMNI Political Risk - The week AheadElection Previews -
Emerging Markets
Emerging Markets
Real-time insight of emerging markets in CEMEA, Asia and LatAm region
-
Commodities
Commodities
Real-time insight of oil & gas markets
-
Credit
Credit
Real time insight of credit markets
-
Data
-
Global Macro
Global Macro
Actionable insight on monetary policy, balance sheet and inflation with focus on global issuance. Analysis on key political risk impacting the global markets.
Global MacroDM Central Bank PreviewsDM Central Bank ReviewsEM Central Bank PreviewsEM Central Bank ReviewsBalance Sheet AnalysisData AnalysisEurozone DataUK DataUS DataAPAC DataInflation InsightEmployment InsightGlobal IssuanceEurozoneUKUSDeep DiveGlobal Issuance Calendars EZ/UK Bond Auction Calendar EZ/UK T-bill Auction Calendar US Treasury Auction Calendar Chart Packs -
About Us
To read the full story
Sign up now for free trial access to this content.
Please enter your details below.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
Real-time Actionable Insight
Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.
Free AccessMNI European Morning FI Technical Analysis
9 October 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) 160.59 & 161.82 Levels Key This Week
*RES 4: 162.07 High Sept 13
*RES 3: 161.82 High Oct 4
*RES 2: 161.66 High Oct 5
*RES 1: 161.36 Hourly resistance Oct 5
*PREVIOUS CLOSE: 161.10
*SUP 1: 161.03 Hourly support Oct 6
*SUP 2: 160.85 Hourly resistance Oct 6 now support
*SUP 3: 160.59 Low Oct 6
*SUP 4: 160.24 Monthly Low Sept 28
*COMMENTARY: The dip Friday lacked follow through with the contract again
finding support on a dip below the 100-DMA (160.81). Layers of resistance remain
161.36-162.15 with bulls still needing a close above 161.82 to gain breathing
room and above 162.15 to target 163.43 Sept highs. While 161.82 caps bears
retain the advantage but need a close below 160.59 to add weight to the bearish
case and below 160.25 to initially pressure the 159.58-79 support region.
BOBL TECHS: (Z17) Supported Below 100-DMA Again
*RES 4: 131.42 Daily Bear channel top
*RES 3: 131.34 High Oct 5
*RES 2: 131.30 21-DMA
*RES 1: 131.24 Hourly resistance Oct 5
*PREVIOUS CLOSE: 131.17
*SUP 1: 131.14 Hourly support Oct 6
*SUP 2: 131.08 Hourly resistance Oct 6 now support
*SUP 3: 130.96 Low Oct 6
*SUP 4: 130.92 Low Sept 28
*COMMENTARY: Downside follow through remains somewhat elusive with the dip below
the 100-DMA (131.07) finding support and recovering for a relatively bullish
close. Layers of resistance are now noted 131.24-131.64. Bulls look for a close
above 131.50 to confirm breaks of the channel top and 21-DMA and above 131.64 to
end bearish hopes and shift focus back to 131.83-98. The 130.90 support remains
key with bears needing a close below to initially target 130.53-68.
SCHATZ TECHS: (Z17) 112.065 & 112.230 Levels Key
*RES 4: 112.215 High Oct 4
*RES 3: 112.195 Hourly support Oct 4a now resistance
*RES 2: 112.180 Hourly support Oct 4 now resistance
*RES 1: 112.165 High Oct 5
*PREVIOUS CLOSE: 112.145
*SUP 1: 112.140 Alternating hourly support/resistance
*SUP 2: 112.105 Low Oct 6
*SUP 3: 112.095 55-DMA
*SUP 4: 112.090 Low Sept 28
*COMMENTARY: Topside and downside follow through were lacking last week as the
contract gravitated back towards the 112.140-180 region. Layers of resistance
remain 112.165-230. Bulls look for a close above 112.165 to gain breathing room
and above 112.230 to end bearish hopes and confirm initial focus on 112.285. The
112.065-105 support region is now key. Bears need a close below 112.065 to
confirm a bearish bias and initially target 111.985-112.015.
GILT TECHS: (Z17) 124.36-65 Resistance Key
*RES 4: 124.65 High Sept 19
*RES 3: 124.36 High Sept 20
*RES 2: 124.22 High Oct 4
*RES 1: 123.97 High Oct 6
*PREVIOUS CLOSE: 123.89
*SUP 1: 123.74 Hourly resistance Oct 6 now support
*SUP 2: 123.29 Hourly support Sept 28
*SUP 3: 123.12 Low Sept 28
*SUP 4: 122.60 2017 Low Jan 26
*COMMENTARY: The 124.36 resistance confirmed significance last Monday with the
contract rallying only to be capped at this level. Bulls still need a close
above 124.36 to gain breathing room and above 124.65 to shift immediate focus to
125.21 although the 21-DMA (124.56) may slow the move. Bears now need a close
below 123.740 to retain focus on 123.12 and overall focus on 122.60 2017 lows.
SHORT-STELRING TECHS: (H18) Key Resistance Capping
*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: 99.350
*SUP 1: 99.330 Lows Oct 4 - 6
*SUP 2: 99.310 Low Sept 20 & 28
*SUP 3: 99.230 High June 21 2016 now support
*SUP 4: 99.110 Monthly Low June 23 2016
*COMMENTARY: Despite looking heavy bears failed to manage the close below 99.310
needed to pressure 99.230. Correcting O/S daily studies remain the key concern
for bears and support a correction. Key resistance is still noted at 99.360 with
bulls needing a close above to gain breathing room. A close above 99.410 is
again needed to shift focus to 99.495-520 where 55, 100 & 200-DMAs are
clustered.
EURIBOR TECHS: (H18) Bears Need Close Below 100.300
*RES 4: 100.325 - 2017 High Sept 5-8
*RES 3: 100.320 - Repeated Daily highs
*RES 2: 100.318 - Bollinger band top
*RES 1: 100.315 - High Sept 25 & 26 & Oct 4
*PREVIOUS CLOSE: 100.305
*SUP 1: 100.305 - Repeated Daily Lows Oct
*SUP 2: 100.300 - Alternating daily support/resistance
*SUP 3: 100.292 - 100-DMA
*SUP 4: 100.285 - Repeated daily lows
*COMMENTARY: Although the contract has closed marginally below the 55-DMA
(100.306), bears need a close below 100.300 to confirm a break and to initially
pressure 100.285-292. The contract is lacking follow through above the 21-DMA
(100.309) with bulls needing a close above 100.315 to return focus to
100.325-300. Overall bears need a close below 100.285 to confirm a break of the
100-DMA and below 100.275 to target the 200-DMA (100.260).
US 10-YR FUTURE TECHS: (Z17) 125-140/230 Resistance Key This Week
*RES 4: 125-230 - Low Sept 25 now resistance
*RES 3: 125-190 - High Oct 4
*RES 2: 125-140 - High Oct 5
*RES 1: 125-070 - Hourly resistance Oct 5
*PRICE: 125-010 @ 0430GMT
*SUP 1: 124-310 - Hourly support Oct 9
*SUP 2: 124-220 - Low Oct 6, Bollinger band base
*SUP 3: 124-140 - Monthly Lows July 6 & 7
*SUP 4: 123-270 - Daily Bear channel base
*COMMENTARY: The lack of downside follow through on fresh 3mth lows Friday is a
concern for bears and hints at a correction back to layers of resistance
125-140/230. Bulls continue to look for a close above 125-230 to hint at a move
back to 126-030/090. Layers of support are starting to build once more with
bears now needing a close below 124-310 to end correction talk and maintain
initial bearish focus on 124-140 July lows.
US 10-YR YIELD TECHS: 2.284 Support Key
*RES 4: 2.437 - High Mar 23
*RES 3: 2.423 - Monthly High Aug May 11
*RES 2: 2.402 - High Oct 6
*RES 1: 2.372 - Hourly resistance Oct 6
*PRICE: 2.368 @ 0430GMT
*SUP 1: 2.344 - Hourly support Oct 5
*SUP 2: 2.319 - Low Oct 5
*SUP 3: 2.296 - Low Sept 29
*SUP 4: 2.284 - Hourly support Sept 27a
*COMMENTARY: Dips attracted bids last week resulting in fresh 7mth highs
although the lack of topside follow through and rejection ahead of 2.437 is less
than ideal. Bulls look for a close above 2.437 to return overall focus to 2017
highs. Resistance layers starting to build is a concern. Bears look for a close
below 2.319 to confirm a break of the 200-DMA (2.321) and below 2.284 to confirm
an easing of bullish pressure & shift focus to 2.208-2.245.
EUROSTOXX50 TECHS: Above 3615.06 Targets 2017 High
*RES 4: 3650.81 High May 11
*RES 3: 3638.29 Daily Bull channel top
*RES 2: 3630.32 Bollinger band top
*RES 1: 3615.06 Monthly High June 2
*PREVIOUS CLOSE: 3603.32
*SUP 1: 3595.50 Low Oct 9
*SUP 2: 3582.07 Hourly resistance Sept 29 now support
*SUP 3: 3575.85 Hourly resistance Sept 29a now support
*SUP 4: 3569.49 Hourly support Sept 29
*COMMENTARY: Bears failed to capitalize on a soft bearish key day reversal last
week with bulls reconfirming dominance with fresh 5mth highs. Bulls need a close
above 3615.06 to shift focus to 3650.81-3666.80 where 2017 highs are located
although the bull channel top may slow the move. Layers of support remain with
bears now needing a close below 3595.50 to gain breathing room and below 3582.07
to hint at a correction back to 3529.19-3556.5.
--MNI Beijing Bureau; tel: +44 207-862-7435; email: kyle.shortland@mni-news.com
[TOPICS: MTABLE]
To read the full story
Sign up now for free trial access to this content.
Please enter your details below.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.