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Free AccessMNI US Morning FI Technical Analysis
9 July 2018
By Kyle Shortland
Click below for today's MNI US Morning FI Technical Analysis Report -
http://tinyurl.com/h8pyhnq
US 5-YR FUTURE TECHS: (U18) Layers of Support 113-05/13
*RES 4: 120-24 Hourly resistance May 30a
*RES 3: 113-26 High July 6
*RES 2: 113-21+ Hourly resistance July 6
*RES 1: 113-19 Hourly support July 6 now resistance
*PRICE: 113-17+ @ 0930GMT
*SUP 1: 113-13 21-DMA
*SUP 2: 113-12+ Low June 26
*SUP 3: 113-13+ Daily Bull channel base off May low
*SUP 4: 113-08 55-DMA
*COMMENTARY: The lack of topside follow through Friday and failure to gain
traction on the break of 113-25+ leaves the contract looking offered. The
113-26/29+ resistance region is key. Bulls need a close above to initially
target 114-05+/15+ where a bull channel top and May highs are located. Layers of
support remain with bears needing a close below 113-05 to confirm breaks of 21 &
55-DMAs and the bull channel base and hint at a move back to 112-14+ May lows.
US 10-YR FUTURE TECHS: (U18) Bears Need Close Below 120-03
*RES 4: 120-24 Hourly resistance May 30a
*RES 3: 120-20 High July 6
*RES 2: 120-18+ Bollinger band top
*RES 1: 120-13 Hourly resistance June 12
*PRICE: 120-07 @ 0930GMT
*SUP 1: 120-06+ Low July 6
*SUP 2: 120-03 Low July 5
*SUP 3: 119-30 Low July 3
*SUP 4: 119-26+ Low June 26
*COMMENTARY: Pressure on the 120-16 resistance took its toll with a spike higher
Friday only to have follow through impeded by the Bollinger band top. Modestly
O/B studies looking to correct are an issue. Bears now look for a close below
120-03 to ease bullish pressure and below the 100-DMA (119-22+) to shift initial
focus back to 119-13+/14+ with the 55-DMA at 119-14+. Bulls need a close above
120-13 to gain breathing room.
US 30-YR FUTURE TECHS: (U18) 147-03 Resistance Key
*RES 4: 147-03 Monthly high Apr (Cont)
*RES 3: 147-01 Daily Bull channel top off May low
*RES 2: 146-23 Weekly Bear channel top off Sept high
*RES 1: 146-11 High July 6
*PRICE: 145-15 @ 0930GMT
*SUP 1: 144-30 Daily Bull channel base off May low
*SUP 2: 144-16 Low July 3
*SUP 3: 144-09 21-DMA
*SUP 4: 143-30 Low June 26
*COMMENTARY: The contract is looking offered having stalled ahead of the bear
channel top off Sept highs coming in around 147-01 today. Bulls need a close
above 147-03 to confirm a break and shift focus to 150-10 (Oct Low). Correcting
modestly O/B studies are a concern for bulls. Layers of support are noted
143-30/144-30. Bears need a close below 143-30 to confirm breaks of the channel
base and 21-DMA, shifting focus back to 143-01/06 where 55 & 100-DMAs are noted.
US EURODOLLAR FUTURE TECHS: (U18) 97.520 & 100-DMA Key Levels
*RES 4: 97.640 Monthly high May 30
*RES 3: 97.595 High May 31
*RES 2: 97.562 100-DMA
*RES 1: 97.560 Repeated Daily highs June
*PRICE: 97.540 @ 0930GMT
*SUP 1: 97.528 55-DMA
*SUP 2: 97.520 Repeated Daily lows June
*SUP 3: 97.500 Low June 14
*SUP 4: 97.475 2018 Low Apr 25, May 8 & June 13
*COMMENTARY: Hesitation ahead of the 100-DMA continues with the 55-DMA having
supported the past couple of weeks. Bears need a close below 97.520 to confirm
breaks of 21 (97.535) & 55-DMAs, easing bullish pressure and hinting at a close
below 97.500 to pressure the key 97.475 support with below 97.500 to add weight
to the case. Above the 100-DMA ends bearish hopes and shifts initial focus to
97.560 and overall focus to 97.640.
--MNI Beijing Bureau; tel: +44 207-862-7435; email: kyle.shortland@mni-news.com
[TOPICS: MTABLE]
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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.