MNI BRIEF: China Ready To Safeguard Interests After EU Tariffs

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

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

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MNI BRIEF: China To Aid Outdated New-Energy Capacity Clear-out

Wage Growth Expectations Unsurprisingly Revised Higher

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

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 

25 July 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: (U18) 162.70 Resistance Key
*RES 4: 162.95 Hourly support July 20 now resistance
*RES 3: 162.70 Low July 19 now resistance
*RES 2: 162.59 21-DMA
*RES 1: 162.33 High July 24
*PREVIOUS CLOSE: 162.27
*SUP 1: 162.00 Hourly support July 24
*SUP 2: 161.75 Low July 11
*SUP 3: 161.26 Low June 21
*SUP 4: 161.14 55-DMA
*COMMENTARY: The 161.75 support confirmed significance with a bounce from ahead
of this level Tuesday. Bears continue to look for a close below 161.75 to shift
initial focus back to 161.14-26 where the 55-DMA is noted. Below the 55-DMA is
needed to target 159.37-160.22 with the 100-DMA at 159.83 The 162.70 resistance
remains key. Bulls still need a close above 162.70 to shift focus back to
163.39-164.19.
     BOBL TECHS: (U18) 131.770 Support Reconfirms Significance
*RES 4: 132.330 High July 2 
*RES 3: 132.290 High July 20 
*RES 2: 132.120 21-DMA 
*RES 1: 132.040 High July 23
*PREVIOUS CLOSE: 131.920
*SUP 1: 131.770 High June 18 now support, Low June 29
*SUP 2: 131.602 55-DMA
*SUP 3: 131.500 Low June 15
*SUP 4: 131.191 High June 13 now support
*COMMENTARY: The 131.770 support reconfirmed significance with a bounce from
this level Wednesday. Bears continue to look for a close below 131.770 to break
the recent 131.770-132.330 range and shift immediate focus to 131.500-602 where
the 55-DMA is noted. Bulls still need a close above 132.050 to gain breathing
room and above 132.330 to target 132.660-970.
     SCHATZ TECHS: (U18) Bounces From Key Support
*RES 4: 112.085 Lows July 2 & 3 now resistance 
*RES 3: 112.045 21-DMA 
*RES 2: 112.010 High July 23 
*RES 1: 111.986 55-DMA
*PREVIOUS CLOSE: 111.980
*SUP 1: 111.945 Low July 24 
*SUP 2: 111.940 High June 13 now support 
*SUP 3: 111.889 100-DMA 
*SUP 4: 111.865 Monthly Low June 14
*COMMENTARY: Pressure returning to the key 111.940 support has so far failed to
produce a break lower with the pair bouncing to pressure the 55-DMA. Bulls
continue to look for a close above 112.010 to confirm traction above the 55-DMA
and shift initial focus to 112.045-085 where the 21-DMA is situated. Bears still
need a close below 111.940 to shift initial focus to 111.865-889 where the
100-DMA is located.
     GILT TECHS: (U18) Bulls Need Close Above 123.41
*RES 4: 124.67 High May 29 
*RES 3: 124.27 High July 20 
*RES 2: 123.84 Hourly support July 19 now resistance 
*RES 1: 123.41 Hourly resistance July 23
*PREVIOUS CLOSE: 123.31
*SUP 1: 122.94 Low July 17 
*SUP 2: 122.76 Low July 9 
*SUP 3: 122.55 Low June 22 
*SUP 4: 122.41 55-DMA
*COMMENTARY: Bears have so far failed to capitalise on the break of the rising
TL (125.33) off May lows with U18 recovering from its lows Tuesday. Layers of
support remain 122.28-76 with bears needing a close below 122.28 to end bullish
hopes and shift initial focus to 121.33-80 where the 100-DMA is noted. Bulls now
look for a close above 123.41 to gain breathing room and above 123.84 to focus
on 124.27-67.
     SHORT-STERLING TECHS: (U18) Bulls Need Close Above 200-DMA
*RES 4: 99.208 55-DMA
*RES 3: 99.192 Daily Bear channel top off May 30 high
*RES 2: 99.167 200-DMA
*RES 1: 99.150 Lows July 5 & 23 now resistance
*PREVIOUS CLOSE: 99.140
*SUP 1: 99.130 Low July 24
*SUP 2: 99.090 High Apr 26 now support
*SUP 3: 99.060 Low Apr 24
*SUP 4: 99.030 Low Apr 18
*COMMENTARY: The break of 99.140 has lacked follow through although bears take
comfort in the marginal close below the 100-DMA. Focus has now shifted to
99.060-090. Initial resistance is now noted at 99.150. Bulls now need a close
above this level to gain breathing room and above the 200-DMA to shift focus
back to the 55-DMA. Daily studies are well placed for a fresh leg lower before
O/S is an issue.
     EURIBOR TECHS: (Z18) Bears Need Close Below 55-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: 100.300 - Highs June 14 & 15, Repeated highs July
*PREVIOUS CLOSE: 100.300
*SUP 1: 100.296 - 21-DMA
*SUP 2: 100.285 - 55-DMA
*SUP 3: 100.275 - Lows June 21-22 & 25
*SUP 4: 100.265 - High June 11 now support
*COMMENTARY: The 100.300-305 resistance remains key. Bulls still need a close
above this region to confirm a bullish bias and initially target 100.320. Daily
studies correcting from O/B is less than ideal for bulls. Bears need a close
below the 55-DMA to ease bullish pressure and below 100.265 to confirm a break
of the 200-DMA (100.274), shifting immediate focus back to 100.245 and overall
focus back to 2018 lows.
     US 10-YR FUTURE TECHS: (U18) Bulls Need Close Above 119-30+
*RES 4: 120-13+ High July 19
*RES 3: 120-06+ Hourly support July 20 now resistance
*RES 2: 119-30  Hourly support July 23 now resistance
*RES 1: 119-26+ Alternating Daily support/resistance
*PRICE: 119-21+ @ 0430GMT
*SUP 1: 119-12+ Low July 24
*SUP 2: 119-06  Low June 14
*SUP 3: 118-29+ Monthly Low June 13
*SUP 4: 118-19  High May 22 now support
*COMMENTARY: Losses continue to define the week with fresh 5 week lows Tuesday,
although follow through has so far been lacking. Bears now look for a close
below 119-12+ to shift overall focus back to tests of May lows (117-30) with
below 118-29+ to add weight to their case. Bulls now need a close above 119-30
to shift focus back to the key 120-13+/20 resistance region.
     US 10-YR YIELD TECHS: 55-DMA Support Key Today
*RES 4: 3.014 - High May 24 
*RES 3: 2.985 - Hourly resistance June 13 
*RES 2: 2.973 - High July 24 
*RES 1: 2.956 - Hourly support July 24 now resistance
*PRICE: 2.934 @ 0430GMT
*SUP 1: 2.923 - 55-DMA 
*SUP 2: 2.902 - Hourly resistance July 23 now support 
*SUP 3: 2.880 - Hourly support July 20 
*SUP 4: 2.860 - Hourly resistance July 20 now support
*COMMENTARY: The recovery from last week's low resulted in a close above the key
2.950 resistance this week confirming traction above the 55-DMA. Bullish focus
has shifted to the 3.014-084 resistance region with a close above 3.084 to
confirm initial focus on 3.128-223 where 2018 highs are noted. Bears need a
close below the 55-DMA to gain breathing room and below 2.880 to shift initial
focus back to 2.807.
     EUROSTOXX50 TECHS: Bulls Need Close Above 200-DMA
*RES 4: 3540.64 High June 15
*RES 3: 3508.16 200-DMA
*RES 2: 3505.02 Low June 15 now resistance
*RES 1: 3502.05 55-WMA
*PREVIOUS CLOSE: 3483.31
*SUP 1: 3469.96 Hourly support July 24 
*SUP 2: 3434.47 21-DMA 
*SUP 3: 3418.06 Low July 12 
*SUP 4: 3389.44 Alternating daily support/resistance
*COMMENTARY: Support emerging on dips back towards the 21-DMA sees pressure on
layers of resistance 3502.05-3508.16 where the 55-WMA and 200-DMA are situated.
Bulls need a close above the 200-DMA to add support to the case for a test of
2018 highs with immediate focus shifting to 3540.03-3566.63 where the weekly
bear channel top of 2018 highs are noted. Bears need a close below 3569.96 to
gain breathing room.
--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();
    

});