MNI: PBOC Conducts CNY2 Bln Via OMO Thurs; Liquidity Unchanged

MNI: PBOC Sets Yuan Parity Lower At 7.1122 Thurs; -1.79% Y/Y

MNI BRIEF: Aussie Unemployment Prints Tighter At 4% In May

CHINA PBOC INJECTS CNY2 BILLION VIA 7-DAY REVERSE REPOS THURS

CHINA SETS YUAN CENTRAL PARITY AT 7.1122 THURS VS 7.1133

MNI BRIEF: China To Aid Outdated New-Energy Capacity Clear-out

MNI: SPAIN MAY HICP +0.2% M/M, +3.8% Y/Y

Australia May Unemployment Rate 4.0%

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

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

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

MNI European Morning FI Technical Analysis 

22 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) 159.69 Resistance Key Today
*RES 4: 160.26 Low Dec 13 now resistance
*RES 3: 159.69 Monthly High Mar 28
*RES 2: 159.58 Bollinger band top
*RES 1: 159.55 High Apr 18
*PREVIOUS CLOSE: 159.39
*SUP 1: 158.88 Hourly support May 21
*SUP 2: 158.52 21-DMA
*SUP 3: 157.61 Low May 15
*SUP 4: 157.43 Low Mar 24
*COMMENTARY: Gains continue with immediate bullish focus on 159.69 today. Daily
studies are well placed for a fresh leg higher with the Bollinger top the key
concern for bulls. Bulls need a close above 159.69 to confirm a break of the
200-WMA (159.64) and to shift immediate focus to 160.26-98. Initial support is
noted on the hourlies at 158.88 with bears needing a close below to gain
breathing room and below the 21-DMA to shift focus back to 157.34-61.
     BOBL TECHS: (M18) 200-WMA Capping For Now
*RES 4: 131.820 2018 High Jan 8 (Cont) 
*RES 3: 131.453 200-WMA 
*RES 2: 131.450 High Jan 23 (Cont) 
*RES 1: 131.430 High May 21
*PREVIOUS CLOSE: 131.350
*SUP 1: 131.250 Hourly support May 21
*SUP 2: 131.150 High May 18 now support
*SUP 3: 131.010 High May 17 now support
*SUP 4: 130.750 Low May 17
*COMMENTARY: The recovery that began last week with support emerging ahead of
the 100-DMA (130.583) now sees pressure on the 200-WMA with the 2018 high noted
above. Bulls need a close above the 200-WMA to add support to the case for a
test of 131.820. Daily studies have room to move with the Bollinger top
(131.346) the key concern. Bears now need a close below 131.250 to gain
breathing room and increase correction risk.
     SCHATZ TECHS: (M18) Immediate Focus On 55-WMA
*RES 4: 112.115 High Dec 18 (Cont) 
*RES 3: 112.065 Monthly Low Sept 21 now resistance (Cont) 
*RES 2: 112.051 55-WMA 
*RES 1: 112.050 2018 High Mar 5 (Cont)
*PREVIOUS CLOSE: 111.995
*SUP 1: 111.945 Highs Apr 5 & 6 now support 
*SUP 2: 111.930 High May 17 now support 
*SUP 3: 111.870 Hourly resistance May 15 now support 
*SUP 4: 111.845 Low May 15
*COMMENTARY: Pressure on 111.945 finally took its toll with an aggressive break
higher that now sees immediate focus on the 55-WMA. Bulls then look for a close
above 112.065 to target 112.111-115 where the 100-WMA is noted. The 111.945
level now becomes initial support. Bears now need a close below this level to
ease bullish pressure and below 111.930 to shift focus back to 111.845-870.
     GILT TECHS: (M18) Bulls Need Close Above 121.93
*RES 4: 122.94 High May 4 
*RES 3: 122.75 Bollinger band top 
*RES 2: 122.50 High May 10
*RES 1: 121.93 High May 21
*PREVIOUS CLOSE: 121.72
*SUP 1: 121.41 High May 17 now support 
*SUP 2: 120.89 Low May 17 
*SUP 3: 120.69 Low Mar 21 
*SUP 4: 120.48 Low Feb 27
*COMMENTARY: The contract continues to trade sideways in a broad 120.69-123.03
range. The rally to start the week saw pops above 55 & 100-DMAs (121.84) with a
close above 121.93 now needed to shift focus back to the upper end of the
defining 120.69-123.03 range. While 121.93 caps bears retain the advantage.
Overall a close below 120.69 is needed to end broad sideways trading to the
downside and initially target 119.29 Feb lows.
     SHORT-STERLING TECHS: (M18) Bears Need Close Below 99.325
*RES 4: 99.416 100-WMA
*RES 3: 99.390 Lows Dec 5 & 8, Low Feb 8 now resistance
*RES 2: 99.379 Bollinger band top
*RES 1: 99.370 2018 High Jan 3
*PREVIOUS CLOSE: 99.345
*SUP 1: 99.340 Repeated Daily Highs Jan & May now support
*SUP 2: 99.325 Low May 17
*SUP 3: 99.305 Lows May 14 & 15
*SUP 4: 99.286 200-DMA
*COMMENTARY: Pressure on 99.340 has taken its toll with a close above this level
that now sees immediate focus on 99.370 and overall focus on 99.416-465 where
the 100-WMA and weekly bear channel top are located. Initial support is now
noted at 99.340 but bears look for a close below 99.325 to gain breathing room
and below the 200-DMA to hint at a correction back to 99.210-240 where the
100-DMA is situated.
     EURIBOR TECHS: (Z18) Bulls Need Close Above 21-DMA
*RES 4: 100.320 - Repeated Daily highs Dec 
*RES 3: 100.310 - 2018 High Repeatedly May 
*RES 2: 100.305 - Repeated daily lows Apr/May now resistance 
*RES 1: 100.297 - 21-DMA
*PREVIOUS CLOSE: 100.285
*SUP 1: 100.285 - Repeated daily lows may
*SUP 2: 100.275 - High Mar 7 now support
*SUP 3: 100.265 - Repeated daily lows Mar
*SUP 4: 100.255 - 200-DMA
*COMMENTARY: The correction lower from recent 2018 highs has resulted in closes
below the 55-DMA (100.294) and the daily bull channel base off 2018 lows.
Immediate focus is now on 100.275 with a close below needed to target the
200-DMA. Bulls still need a close above the 21-DMA to ease bearish pressure and
above 100.310 to reconfirm focus on 100.320-340.
     US 10-YR FUTURE TECHS: (M18) Bulls Need Close Above 21-DMA
*RES 4: 119-31+ High Apr 4, 55-DMA
*RES 3: 119-07+ 21-DMA
*RES 2: 119-07  High May 15
*RES 1: 118-31  Low Apr 25 now resistance
*PRICE: 118-29+ @ 0430GMT
*SUP 1: 118-19+ High May17 now support
*SUP 2: 118-10+ 2018 Low May 17
*SUP 3: 117-29+ Monthly Low Apr 8 2011
*SUP 4: 117-22+ 2011 Low Feb 9
*COMMENTARY: The bounce to end the week was less than ideal for bulls given
daily studies looking to correct from O/S and increases the risk of a correction
that tests the 21-DMA. In saying that, bulls still need a close above the 21-DMA
to confirm an easing of bearish pressure and to shift initial focus to
119-31+/120-06+ where the 55-DMA is located. Bears now need a close below
118-19+ to gain breathing room.
     US 10-YR YIELD TECHS: Looking Offered
*RES 4: 3.223 - Monthly High July 1 2011 
*RES 3: 3.184 - High July 8 2011 
*RES 2: 3.139 - Daily Bull channel top 
*RES 1: 3.084 - High May 21
*PRICE: 3.050 @ 0430GMT
*SUP 1: 3.011 - Hourly support May 15 
*SUP 2: 3.002 - 21-DMA 
*SUP 3: 2.937 - Low May 7 
*SUP 4: 2.904 - Low Apr 20
*COMMENTARY: The yield is looking offered having sold-off Friday from around the
daily bull channel top. Bears now focus on the 21-DMA with a close below needed
to confirm a break of 3.011 and shift focus back to 2.876-937 where the 55-DMA
(2.897) is located. Bulls now need a close above 3.084 to gain breathing room
and above 3.128 2018 highs to reconfirm the bullish bias and focus on
3.184-3.254 where channel tops and July 2011 monthly high are situated.
     EUROSTOXX50 TECHS: 3600.36 Resistance Key This Week
*RES 4: 3687.22 2018 High Jan 23 
*RES 3: 3662.86 Low Jan 21 now resistance 
*RES 2: 3636.22 Monthly High Feb 1 
*RES 1: 3600.36 Low Jan 31 now resistance, Bollinger top
*PREVIOUS CLOSE: 3572.57
*SUP 1: 3566.53 Low May 18 
*SUP 2: 3549.26 Low May 10 
*SUP 3: 3547.59 21-DMA 
*SUP 4: 3540.14 Low May 7
*COMMENTARY: Lackluster sideways trading came to an end with a rally and bullish
close Thursday that added support to the case for a move targeting 2018 highs
with above 3600.36 needed to confirm. Hesitation ahead of this level is a
concern with bears needing a close below 3549.26 to ease bullish pressure and
below the 200-DMA (3517.70) to shift initial focus back to 3464.35.
--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();
    

});