-
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
12 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) 161.03 & 161.82 Levels Remain Key
*RES 4: 162.07 High Sept 13
*RES 3: 161.82 High Oct 4
*RES 2: 161.68 High Oct 10
*RES 1: 161.40 High Oct 11
*PREVIOUS CLOSE: 161.17
*SUP 1: 161.11 Low Oct 11
*SUP 2: 161.03 Hourly support Oct 6
*SUP 3: 160.85 Hourly resistance Oct 6 now support
*SUP 4: 160.59 Low Oct 6
*COMMENTARY: The follow on from Friday's lack of follow through sees Z17
hesitating ahead of layers of 161.82-162.15. Bulls need 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 continue to look for a close below 161.03 to
add weight to their case and below 160.25 to initially pressure 159.58-79. Very
narrowed Bollinger bands suggest a break out in the near future.
BOBL TECHS: (Z17) Looking A Little Heavy
*RES 4: 131.36 High Oct 10
*RES 3: 131.34 Daily Bear channel top
*RES 2: 131.27 High Oct 11
*RES 1: 131.24 Bollinger band top
*PREVIOUS CLOSE: 131.18
*SUP 1: 131.13 Low Oct 11
*SUP 2: 131.08 Hourly resistance Oct 6 now support
*SUP 3: 131.04 Bollinger band base
*SUP 4: 130.96 Low Oct 6
*COMMENTARY: Bears take comfort in the failure ahead of the bear channel top
Tuesday as very narrowed Bollinger bands suggest a break out in the near future.
The 131.34-64 region is now key resistance. Bulls need a close above 131.360 to
confirm a break of the bear channel top and above 131.64 to end bearish hopes
and target 131.83.98. Bears now look for a close below 131.13 to reconfirm focus
on 130.90-96.
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: 112.185 High Oct 10
*RES 1: 112.165 Hourly resistance Oct 10
*PREVIOUS CLOSE: 112.135
*SUP 1: 112.125 Low Oct 9
*SUP 2: 112.109 55-DMA
*SUP 3: 112.105 Low Oct 6
*SUP 4: 112.090 Low Sept 28
*COMMENTARY: Topside and downside follow through were lacking last week as the
contract gravitated back towards the 112.140-160 region. Layers of resistance
remain 112.165-230. Bulls look for a close above 112.185 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 remains 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: 124.05 High Oct 9
*PREVIOUS CLOSE: 123.79
*SUP 1: 123.52 Low Oct 10
*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 confirm a break of the 21-DMA (124.11) & gain breathing room
with above 124.65 to shift immediate focus to 125.21. Bears still need a close
below 123.32 to retain focus on 123.12 and overall focus on 122.60 2017 lows.
SHORT-STERLING TECHS: (H18) Bulls Need Close Above 99.360
*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: 99.330 Lows Oct 4 - 6 & 9 - 11
*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: Sideways trading 99.310-360 continues with bears needing a close
below 99.330 to pressure 99.310 and below this level to reconfirm a bearish bias
and target 99.110-230. 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 99.484-520 where 55, 100 & 200-DMAs are clustered.
EURIBOR TECHS: (H18) 100.300 & 100.315 Levels Remain Key
*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: 100.315 - High Sept 25 & 26, Oct 4 & 9, Bollinger top
*PREVIOUS CLOSE: 100.310
*SUP 1: 100.305 - Repeated Daily Lows Oct
*SUP 2: 100.300 - Alternating daily support/resistance
*SUP 3: 100.293 - 100-DMA
*SUP 4: 100.285 - Repeated daily lows
*COMMENTARY: Although the contract closed marginally below the 55-DMA (100.307)
last week, bears need a close below 100.300 to confirm a break and initially
pressure 100.285-293. The contract managed closes above the 21-DMA (100.308)
with bulls still 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 (100.261).
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: 125-180 - 21-DMA
*RES 1: 125-140 - High Oct 5 & 10
*PRICE: 125-080 @ 0430GMT
*SUP 1: 125-050 - Hourly support Oct 11
*SUP 2: 124-310 - Hourly support Oct 9
*SUP 3: 124-240 - Bollinger band base
*SUP 4: 124-220 - Low Oct 6
*COMMENTARY: The lack of downside follow-through on fresh 3mth lows Friday was a
concern for bears and resulted in a correction back to layers of resistance
125-140/230. Bulls continue to look for a close above 125-230 to initially shift
focus to tests of 126-030/090. Layers of support remain with bears still 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: 2.423 - Monthly High Aug May 11
*RES 3: 2.402 - High Oct 6
*RES 2: 2.372 - Hourly resistance Oct 6
*RES 1: 2.355 - Hourly resistance Oct 11
*PRICE: 2.346 @ 0430GMT
*SUP 1: 2.330 - Hourly support Oct 10
*SUP 2: 2.319 - Low Oct 5 & 10, 200-DMA
*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 was
less than ideal. Bulls look for a close above 2.372 to gain breathing room and
above 2.437 to return overall focus to 2017 highs. Bears still need a close
below 2.319 to ease bullish pressure and below 2.284 to shift focus to
2.208-2.245 where 55 (2.232) & 100 (2.236) DMAs are located.
EUROSTOXX50 TECHS: Supported On Dips For Now
*RES 4: 3656.44 Daily Bull channel top
*RES 3: 3635.40 Bollinger band top
*RES 2: 3618.34 High Oct 9
*RES 1: 3610.50 Hourly resistance Oct 9
*PREVIOUS CLOSE: 3607.39
*SUP 1: 3589.98 Low Oct 10
*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: The lack of topside follow-through on recent 5mth highs is a
concern for bulls given daily studies looking to correct from O/B. Bears look
for a close below 3582.07 to confirm a correction with immediate focus shifting
to 3555.90-3564.49 where the bull channel base and 21-DMA are situated. A close
below the channel base then targets 3495.95-3409.40 where 55 & 100-DMAs are
noted. Bulls need a close above 3618.34 to reconfirm the bullish bias.
--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.