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Free AccessMNI 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: (H18) Long Term Support Still Intact, 116-067 Resistance
*RES 4: 116-190 Dec 13 high
*RES 3: 116-147 Hourly recovery high Dec 14
*RES 2: 116-117 Dec 18 high
*RES 1: 116-067 Dec 18 low, now resistance
*PRICE: 116-002 @1055GMT
*SUP 1: 115-287/292 Hourly support
*SUP 2: 115-270 Dec 26 low
*SUP 3: 115-197 5 year bear channel base projection
*SUP 4: 115-055 3 month bear channel base projection
*COMMENTARY* Fresh downside pressure last week following the inability to
traverse the 50% Fibo retrace level at 116-192 earlier in the month. A low of
115-270 before finding some support, ahead of the longer term supports between
115-197/115-055. Meanwhile, 116-067 still provides resistance. Above and
congested 116-117/116-147 lies ahead of any attempt at a real recovery.
US 10YR FUTURE TECHS: (H18) Attempting Recovery After Hold Above 123-115
*RES 4: 124-210 Dec 13 high
*RES 3: 124-135 Dec 18 high
*RES 2: 124-070 Dec 15 low, now resistance
*RES 1: 124-025 Dec 29 high
*PRICE: 123-235 @1100GMT
*SUP 1: 123-170 Jan 2 low
*SUP 2: 123-115/125 Mar 17, Dec 21 lows
*SUP 3: 123-100 3 month bear channel base
*SUP 4: 122-205 Mar 10, Mar 14 lows
*COMMENTARY* 123-290/123-295 support gave way late last month. The subsequent
fall breaking below the long term 76.4% Fibo retrace level at 123-235. A low of
123-125 seen so far, just above the Mar 17 low at 123-115 and also the 3 month
bear channel base at 123-100 today. The subsequent recovery has moved above
123-290/123-295 but still needs through 124-025/124-070 before the chance of
seeing a better recovery. Nearest support moves up to 123-170.
US 30YR FUTURE TECHS: (H18) Recovery So Far Lacks A 153-17 Break
*RES 4: 154-26/27 Nov 8, Nov 28 highs
*RES 3: 154-15/18 Dec 15, Dec 6 highs
*RES 2: 153-15/17 Dec 19 high, 76.4% Fibo of 154-15/150-14
*RES 1: 153-03/04 Dec 29, Dec 27 highs
*PRICE: 151-28 @1106GMT
*SUP 1: 151-12 Jan 2 low
*SUP 2: 151-07/08 Dec 22, Dec 21 highs, now support
*SUP 3: 150-14 Dec 20 low
*SUP 4: 150-07/10 May 11, Oct 27 lows
*COMMENTARY* The decline at the back end of last month found support from
150-14, keeping us above the key 150-10/150-07 lows from October and May last
year. The subsequent recovery has been impressive, reaching above 152-30
resistance, but with a high of 153-04, so far remains below the next resistance
of note, the 76.4% Fibo retrace level at 153-17. As a result, support moves to
151-12 and then more importantly 151-08/151-07.
US EURODOLLAR TECHS: (H18) 98.200 Support Holds Under Close Investigation
*RES 4: 98.345 Oct 6 low, now resistance
*RES 3: 98.325 Nov 15 high
*RES 2: 98.290 Nov 14 low, Nov 22, 24, 28 & 29 highs
*RES 1: 98.250 Dec 14 high
*PRICE: 98.220 @1109GMT
*SUP 1: 98.200/205 Jan 26 high, Mar 15 low & Dec 21-26 lows
*SUP 2: 98.185 61.8% Fibo of 97.535-98.240
*SUP 3: 98.165 Mar 30 2015 high, now support
*SUP 4: 98.080 Dec 2015 low
*COMMENTARY* The 98.200-98.205 area came under severe examination at the end of
last month but has so far rebuffed all challenges. The subsequent recovery is so
far embryonic in nature, requiring a move back above 98.250 before the impetus
will be seen for an assault back on 98.290. Will require a break back above here
however, before starting to consider higher corrective potential of the fall
seen from the Sep 8 high at 98.585. Loss of 98.200 will disappoint now.
--MNI London Bureau;tel: +44 207-862-7495; email: les.castell@marketnews.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.