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MNI US Morning Fixed Income Technical Analysis

By Les Castell
     Click below for today's MNI US Morning FI Technical Analysis Report -
http://tinyurl.com/h8pyhnq
US 5YR FUTURE TECHS: (Z17) Rally Heads Toward Next 119-025/119-045 Target Area
*RES 4: 119-290 1% volatility band
*RES 3: 119-220 50% 121-215/116-155, 61.8% 122-285/116-155
*RES 2: 119-045 50% 8 week bull channel top
*RES 1: 119-025 50% Fibo of 121-215/116-155
*PRICE: 118-315 @1118GMT
*SUP 1: 118-227/247 Hourly support
*SUP 2: 118-195 Sep 6 low
*SUP 3: 118-125/135 8 week rising support line, Sep 5 low
*SUP 4: 118-095 Sep 1 low
*COMMENTARY* Still basically trading within the 8 week bull channel, a high of
119-015 so far, as we now move above the Apr & May highs between
118-310/118-320. The channel top and the 50% Fibo retrace level are in the
slightly higher 119-025/119-045 region today. As a result, support now comes
initially from 118-247/118-195, although the lower 118-135/118-125 area
currently provides a stronger back up below. Loss here would caution.
US 10YR FUTURE TECHS: (Z17) 127-290/128-105 The Next Upside Target Area
*RES 4: 128-280 Median line off March & May lows
*RES 3: 128-155 1% volatility band
*RES 2: 128-105 50% Fibo of 134-070/122-145
*RES 1: 127-290 8 week bull channel top
*PRICE: 127-235 @1137GMT
*SUP 1: 127-120 Hourly support
*SUP 2: 127-085 Hourly high/low Sep 7
*SUP 3: 127-020 Sep 6 low
*SUP 4: 126-300/305 Initial high Sep 5, Sep 3 high, now suppt
*COMMENTARY* Impressive recovery continues, after the test to the base of the 8
week bull channel. The subsequent rise has now broken above the previous 127-190
high. Directly through here and the next barrier is that 8 week channel top at
127-290 and then the 50% Fibo level at 128-105. In the interim, support from
127-120/127-085 initially, with stronger levels currently seen from between
127-020/126-300. The 8 week support line is at 126-220.
US 30YR FUTURE TECHS: (Z17) Heads Toward Next 158-15/158-25 Target Area
*RES 4: 160-01 2% volatility band
*RES 3: 158-25 7 week bull channel top, 8 month res line
*RES 2: 158-15 1% volatility band
*RES 1: 158-04/09 Aug 29, intraday highs
*PRICE: 157-28 @1148GMT
*SUP 1: 156-23/28 Hourly support, 
*SUP 2: 156-07 Sep 6 low
*SUP 3: 155-21/23 Initial rally high Sep 5, Sep 3 high
*SUP 4: 154-30 Sep 1 low
*COMMENTARY* Rallying after last week's drop to the base of the 7 week bull
channel. A high of 158-09 so far, just below  the upper 1% volatility band at
the slightly higher 158-15 level and the channel top at 158-25. With the break
above the Aug 29 high at 158-04 we have removed the ongoing threat of the 'Doji'
candle close on that day. Support now from 156-28/156-23 with 156-07 backing it
up below. Loss of 155-21 would be a concern now.
     US EURODOLLAR TECHS: (Z17) Rally Eyes Return To The May 18 High At 98.655
*RES 4: 98.805 Oct 12 2016 low, now resistance
*RES 3: 98.695 38.2% Fibo of 99.270-98.335
*RES 2: 98.680 May 30 2016 low, now resistance
*RES 1: 98.655 May 18 high
*PRICE: 98.630 @1200GMT
*SUP 1: 98.600 Aug 29 high, now support
*SUP 2: 98.585 Minor congestion area Aug 30-Sep 5
*SUP 3: 98.560 Aug 25 low, Aug 3-4 highs
*SUP 4: 98.545 Congestion area Jul 26-Aug 10
*COMMENTARY* After weeks of consolidation we saw a break above 98.580-98.590
resistance back on Aug 29. This has allowed some further progression and with
the subsequent move through 98.630, this brings the May 18 high at 98.655 back
into view. As a result, support also rises, the Aug 29 high at 98.600 initially,
with 98.585-98.560 currently of more significance below. A sustained break above
98.655 will then see focus return to the 98.680-98.695 region.
--MNI London Bureau;tel: +44 207-862-7495; email: les.castell@marketnews.com
[TOPICS: MTABLE]

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