MNI BRIEF: China To Strengthen Fund Management

MNI BRIEF: China Cancels Decades-old Routine Premier Presser

MNI: PBOC Drains Net CNY319 Bln Via OMO Mon; Rates Unchanged

MNI BRIEF: PBOC To Support Foreign Visitors' Digital Payments

RPT-MNI POLICY: G20 CenBanks Worried By Optimistic Markets

(CORRECTED) MNI: IMF Not Expecting Persistent China Deflation

Unemployment Claims Fall In NSA and SA Terms

BOC CBWatch

CPI Slightly Firmer Than Consensus But Still Below SNB F'cast

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

MNI BRIEF: Lawmakers Signal Tough Hearing For BOC's Macklem

MNI BRIEF:Macklem-Fiscal Policy Turning Unhelpful On CPI Fight

© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

MNI European Morning FI Technical Analysis 

7 May 2018
By Kyle Shortland
Please click on this link to access MNI's daily European FI Technical Analysis
Pdf - http://tinyurl.com/nhjogts
BUND TECHS: (M18) Below 21-DMA To Ease Bullish Pressure
*RES 4: 160.26 Low Dec 13 now resistance
*RES 3: 159.96 Bollinger band top
*RES 2: 159.69 Monthly High Mar 28
*RES 1: 159.55 High Apr 18
*PREVIOUS CLOSE: 159.18
*SUP 1: 158.91 High May 2 now support
*SUP 2: 158.80 21-DMA
*SUP 3: 158.38 Low Apr 30
*SUP 4: 157.90 Hourly resistance Apr 26 now support
*COMMENTARY: Bullish confidence grew with a close above the 21-DMA that sees
immediate focus on 159.69 and bulls now looking for a close above this level to
shift initial focus to 160.26-98 where Dec highs are noted. Bears still need a
close below the 21-DMA to gain breathing room and below 158.38 to target a
correction back to 157.34-43. Daily studies are well placed for a fresh leg
higher and have room to move before O/B is an issue.
     BOBL TECHS: (M18) Bears Need Close Below 131.070
*RES 4: 131.516 200-WMA 
*RES 3: 131.450 High Jan 23 (Cont)
*RES 2: 131.342 Bollinger band top 
*RES 1: 131.310 High Apr 3
*PREVIOUS CLOSE: 131.140
*SUP 1: 131.094 100-WMA
*SUP 2: 131.070 High Apr 30 now support
*SUP 3: 130.880 Low May 3
*SUP 4: 130.780 Hourly resistance Apr 26 now support
*COMMENTARY: Bulls took comfort in the close above the 100-WMA that sees
immediate pressure on the 131.310 Apr high. Bulls look for a close above this
level to target the 131.516-882 region where the 200-WMA and bull channel top
are located. The Bollinger top is likely to limit follow through and is a
concern for bulls. Bears need a close below 131.070 to gain breathing room and
below 130.880 to shift focus to 130.510-680.
     SCHATZ TECHS: (M18) 111.945 Resistance Remains Key
*RES 4: 111.990 Monthly High Mar 28 
*RES 3: 111.947 Bollinger band top 
*RES 2: 111.945 Highs Apr 5 & 6 
*RES 1: 111.940 High May 4
*PREVIOUS CLOSE: 111.920
*SUP 1: 111.875 Low Apr 27 
*SUP 2: 111.830 Low Mar 14 
*SUP 3: 111.805 Low Mar 9 
*SUP 4: 111.715 Low Feb 27
*COMMENTARY: The lack of follow through on dips below the 100-DMA (111.823)
resulted in closes above the 21-DMA (111.895). Bulls need a close above 111.945
to confirm traction above the 21-DMA and shift initial focus back to 111.990.
Bears continue to look for a close below 111.875 to gain breathing room and
below 111.805 to confirm traction below DMAs and initially target 111.715. O/S
studies have corrected back to neutral levels.
     GILT TECHS: (M18) Hesitating Ahead Of Apr High
*RES 4: 123.57 Low Dec 1 now resistance 
*RES 3: 123.03 High Apr 4 
*RES 2: 122.96 Bollinger band top 
*RES 1: 122.94 High May 4
*PREVIOUS CLOSE: 122.56
*SUP 1: 122.08 Hourly resistance May 2 now support 
*SUP 2: 121.58 55-DMA 
*SUP 3: 121.07 Low Mar 26 
*SUP 4: 120.69 Low Mar 21
*COMMENTARY: Support emerging on dips back towards the 55-DMA adds to bullish
confidence with immediate focus back on the 123.03 resistance. Bulls look for a
close above this level to initially target the daily bull channel top around
123.75. Daily studies approaching O/B are a concern for bulls. In saying that,
the 55-DMA support remains key with bears needing a close below to ease bullish
pressure and shift initial focus back to 120.69.
     SHORT-STERLING TECHS: (M18) Hesitating Ahead Of 200-DMA
*RES 4: 99.370 2018 High Jan 3
*RES 3: 99.340 Repeated Daily Highs Jan
*RES 2: 99.310 High Feb 7
*RES 1: 99.294 200-DMA
*PREVIOUS CLOSE: 99.280
*SUP 1: 99.270 Alternating daily support/resistance
*SUP 2: 99.240 Repeated daily lows Apr/May
*SUP 3: 99.230 100-DMA
*SUP 4: 99.210 High Apr 20 now support
*COMMENTARY: The contract found support ahead of the 100-DMA providing the base
for a rally and close above 99.270 Thursday that sees immediate focus on the
200-DMA. Bulls look for a close above the 200-DMA to shift focus to 99.340-370
where 2018 highs are noted. Bears now look for a close below 99.270 to gain
breathing room and below 99.210 to confirm traction below the 100-DMA and
initially target 99.145-160.
     EURIBOR TECHS: (Z18) Bulls Focused On 100.320-340
*RES 4: 100.340 - High Oct 10 2016 
*RES 3: 100.325 - High Oct 19 2016, High Dec 15 
*RES 2: 100.320 - Repeated Daily highs Dec 
*RES 1: 100.310 - 2018 High May 3 & 4
*PREVIOUS CLOSE: 100.305
*SUP 1: 100.300 - 21-DMA
*SUP 2: 100.295 - Repeated daily lows Apr
*SUP 3: 100.287 - Daily Bull channel base off 2018 Low, 55-DMA
*SUP 4: 100.275 - High Mar 7 now support
*COMMENTARY: Having found support at 100.295 bulls took comfort in fresh 2018 &
19mth highs with immediate focus now on 100.320-340. Bulls have room to move
before studies become O/B. Bears now need a close below 100.295 to ease bullish
pressure and to shift initial focus back to 100.272-287 where 55 & 100-DMAs and
the bull channel base off 2018 lows are noted.
     US 10-YR FUTURE TECHS: (M18) Bulls Now Need Close Above 120-06+
*RES 4: 120-20+ Hourly resistance Apr 12
*RES 3: 120-06+ High Apr 19, 55-DMA
*RES 2: 120-02+ Low Apr 18 now resistance
*RES 1: 119-29+ 21-DMA
*PRICE: 119-20 @ 0430GMT
*SUP 1: 119-08  Low May 2
*SUP 2: 118-31  2018 Low Apr 25
*SUP 3: 118-24  Low Apr 13 2011
*SUP 4: 117-29+ Monthly Low Apr 8 2011
*COMMENTARY: Bulls took comfort in support emerging on the dip below 119-09
Wednesday with bears now needing a close below 119-08 to ease renewed bullish
pressure and return initial focus to 2018 lows. Correcting O/S daily studies
remain the key concern for bears. Bulls now look for a close above Y120-06+ to
initially target a correction back to 120-20+/24 and above 120-24 to shift focus
to 121-03+/12 with the 100-DMA at 121-03+.
     US 10-YR YIELD TECHS: Bears Now Need Close Below 55-DMA
*RES 4: 3.041 - 2014 High Jan 2 
*RES 3: 3.035 - 2018 High Apr 25 
*RES 2: 3.018 - Hourly support Apr 26 now resistance 
*RES 1: 2.996 - High May 2
*PRICE: 2.953 @ 0430GMT
*SUP 1: 2.907 - 21-DMA 
*SUP 2: 2.904 - Low Apr 20 
*SUP 3: 2.876 - High Apr 18 now support 
*SUP 4: 2.869 - 55-DMA
*COMMENTARY: Hesitation ahead of 2014 highs & 3.041-073 is a concern given daily
studies correcting from O/B). The 3.041-3.073 resistance region remains key with
bulls needing a close above 3.073 to shift focus 3.183-223 where the weekly bull
channel top is noted. The 55-DMA is key support this week with bears needing a
close below to add weight to the case for a move back to 2.717-748 where the
100-DMA (2.748) is situated.
     EUROSTOXX50 TECHS: Bears Need Close Below 200-DMA
*RES 4: 3667.42 Bollinger band top 
*RES 3: 3557.87 High May 2 
*RES 2: 3549.14 High May 3 
*RES 1: 3535.75 Hourly support May 3 now resistance
*PREVIOUS CLOSE: 3550.59
*SUP 1: 3523.00 Low May 3 
*SUP 2: 3512.63 200-DMA 
*SUP 3: 3502.91 Hourly support Apr 26 
*SUP 4: 3485.95 21-DMA
*COMMENTARY: The marginal dip below 3523.81 lacked follow through Thursday with
bears now needing a close below the 200-DMA to confirm an easing of bullish
pressure and below 3464.35 to shift focus back to 3383.17-3417.29 where the
55-DMA (3427.37) is situated. Bulls continue to look for a close above 3570.95
to reconfirm the bullish bias and above 3600.36 to reconfirm focus on 2018
highs.
--MNI Beijing Bureau; tel: +44 207-862-7435; email: kyle.shortland@mni-news.com
[TOPICS: MTABLE]
To read the full story
Close
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.

    

});

window.REBELMOUSE_TASKS_QUEUE.push(function(){

    
        window.dataLayer.push({
    'event' : 'logedout',
    'loggedOut' : 'loggedOut'
  });
    

});

window.REBELMOUSE_TASKS_QUEUE.push(function(){

    
        (function appendPosts () {  
    var policyPosts = document.getElementsByClassName('policy-posts-wrapper')[0];
    var policyPostsMenu = document.querySelector('.policy-posts-span');
    policyPostsMenu.append(policyPosts);
    policyPosts.style.display = "block";
  
    var empolicyPosts = document.getElementsByClassName('em-policy-posts-wrapper')[0];
    var empolicyPostsMenu = document.querySelector('.em-policy-posts-span');
    empolicyPostsMenu.append(empolicyPosts);
    empolicyPosts.style.display = "block";

    var dataPosts = document.getElementsByClassName('data-posts-wrapper')[0];
    var dataPostsMenu = document.querySelector('.data-posts-span');
    dataPostsMenu.append(dataPosts);
    dataPosts.style.display = "block";
})();
    

});

window.REBELMOUSE_TASKS_QUEUE.push(function(){

    
        document.querySelectorAll(".my-mni").forEach(function(item){
  item.href="/core/users/email_login/";
  item.innerHTML="Log In";
})
    

});

window.REBELMOUSE_TASKS_QUEUE.push(function(){

    
        document.querySelector('.signup-form').addEventListener('submit', () => {
  window.dataLayer = window.dataLayer || [];
  dataLayer.push({
    'event' : 'submission_click',
    'event_category': "Sign Up Button Clicks",
     'event_label': "Posts" 
  });  
  
})
    

});

window.REBELMOUSE_TASKS_QUEUE.push(function(){

    
        REBELMOUSE_STDLIB.createElementChangeListener('.signup-form.authentication--form',function(item){
  item.onsubmit=function(e){
    ga('b.send', 'event', {eventCategory: 'Signup', eventAction: 'CompletedForm', eventLabel:'pageTitle', eventValue:15});
    window.dataLayer = window.dataLayer || [];
    dataLayer.push({
      'event' : 'signup_click',
      'event_category': "Signup",
      'event_action': 'CompletedForm',
       'event_label': 'pageTitle',
      'event_value': 15
    });  
  }
})
    

});

window.REBELMOUSE_TASKS_QUEUE.push(function(){

    
        document.querySelectorAll("img").forEach(function (img) {
    img.addEventListener("contextmenu", function (e) {
      return false;
    });
  });
  document
    .querySelector(".site-logo img")
    .addEventListener("contextmenu", function (e) {
      return true;
    });
    

});

window.REBELMOUSE_TASKS_QUEUE.push(function(){

    
        document.querySelector('.signup-form').addEventListener('submit', () => {
  window.dataLayer = window.dataLayer || [];
  dataLayer.push({
    'event' : 'submission_click',
    'event_category': "Sign Up Button Clicks",
     'event_label': "Posts" 
  });  
  
})
    

});

window.REBELMOUSE_TASKS_QUEUE.push(function(){

    
        REBELMOUSE_STDLIB.createElementChangeListener('.signup-form.authentication--form',function(item){
  item.onsubmit=function(e){
    ga('b.send', 'event', {eventCategory: 'Signup', eventAction: 'CompletedForm', eventLabel:'pageTitle', eventValue:15});
    window.dataLayer = window.dataLayer || [];
    dataLayer.push({
      'event' : 'signup_click',
      'event_category': "Signup",
      'event_action': 'CompletedForm',
       'event_label': 'pageTitle',
      'event_value': 15
    });  
  }
})
    

});

window.REBELMOUSE_TASKS_QUEUE.push(function(){

    
        
  let posts = document.querySelectorAll(".all-content-wrapper .widget:not(.stream-story-processed)");
  window.check_story_posts(posts, "streamOfPosts");
    

});

window.REBELMOUSE_LOW_TASKS_QUEUE.push(function(){

    
        function populateInputsWithAPAPI(c) {
  document.querySelectorAll('.signup-form input[name="country"]').forEach(el => {
	el.setAttribute("value", c.country_name);
  });
  document.querySelectorAll('.signup-form .country_name').forEach(el => {
	el.setAttribute("value", c.country_name);
  });

  let country_code =
    c && c.country_code ? c.country_code.toLowerCase() : "auto";
  document.querySelectorAll('.signup-form .country_code').forEach(el => {
	el.setAttribute("value", country_code);
  });
  document.querySelectorAll('.signup-form .selected_country').forEach(el => {
	el.setAttribute("value", country_code);
  });
}

const fetch = function (err, res) {
  var r = new XMLHttpRequest();
  r.open("GET", err, !0),
    (r.responseType = "json"),
    (r.onload = function () {
      var err = r.status;
      res(200 === err ? null : err, r.response);
    }),
    r.send();
};

function setupCountry() {
  if (window.preventDuplicateExec) {
    return;
  }
  window.preventDuplicateExec = true;

  window.REBELMOUSE_STDLIB.onElementInViewport({
    threshold: 0,
    firstOnly: true,
    oneTime: true,
    selector: ".signup-form",
    onIntersect: (entry) => {
      // when you need to get access to that data you call it in that way:
      let ipapiData = localStorage.getItem("ipapiData");
      if (!ipapiData) {
        fetch("https://ipapi.co/json/", function (err, ipData) {
          console.log("populating inputs with data from IP API ");
          localStorage.setItem("ipapiData", JSON.stringify(ipData));
          populateInputsWithAPAPI(ipData);
        });
      } else {
        console.log(
          "populating inputs with data from IP API data stored in local storage"
        );
        populateInputsWithAPAPI(JSON.parse(ipapiData));
      }
    },
  });
}

setupCountry();
    

});

window.REBELMOUSE_LOW_TASKS_QUEUE.push(function(){

    
        /*
const sidebar = document.querySelector('.left-sidebar-container');
const stickyContent = document.querySelector('.sticky-content');
const siteContent = document.querySelector('.all-posts-stream');
if (sidebar && stickyContent && siteContent) {
  if (siteContent.clientHeight > sidebar.clientHeight) {
    console.log('grater -> ', siteContent.clientHeight + ' > ' + sidebar.clientHeight);
    stickyContent.style.height = (siteContent.clientHeight - sidebar.clientHeight) + 'px';
  }
}
*/
    

});

window.REBELMOUSE_LOW_TASKS_QUEUE.push(function(){

    
        function populateInputsWithAPAPI(c) {
  document.querySelectorAll('.signup-form input[name="country"]').forEach(el => {
	el.setAttribute("value", c.country_name);
  });
  document.querySelectorAll('.signup-form .country_name').forEach(el => {
	el.setAttribute("value", c.country_name);
  });

  let country_code =
    c && c.country_code ? c.country_code.toLowerCase() : "auto";
  document.querySelectorAll('.signup-form .country_code').forEach(el => {
	el.setAttribute("value", country_code);
  });
  document.querySelectorAll('.signup-form .selected_country').forEach(el => {
	el.setAttribute("value", country_code);
  });
}

const fetch = function (err, res) {
  var r = new XMLHttpRequest();
  r.open("GET", err, !0),
    (r.responseType = "json"),
    (r.onload = function () {
      var err = r.status;
      res(200 === err ? null : err, r.response);
    }),
    r.send();
};

function setupCountry() {
  if (window.preventDuplicateExec) {
    return;
  }
  window.preventDuplicateExec = true;

  window.REBELMOUSE_STDLIB.onElementInViewport({
    threshold: 0,
    firstOnly: true,
    oneTime: true,
    selector: ".signup-form",
    onIntersect: (entry) => {
      // when you need to get access to that data you call it in that way:
      let ipapiData = localStorage.getItem("ipapiData");
      if (!ipapiData) {
        fetch("https://ipapi.co/json/", function (err, ipData) {
          console.log("populating inputs with data from IP API ");
          localStorage.setItem("ipapiData", JSON.stringify(ipData));
          populateInputsWithAPAPI(ipData);
        });
      } else {
        console.log(
          "populating inputs with data from IP API data stored in local storage"
        );
        populateInputsWithAPAPI(JSON.parse(ipapiData));
      }
    },
  });
}

setupCountry();
    

});