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Jul-17 17:01

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EURUSD TECHS: Trend Needle Points North

Jun-17 17:00
  • RES 4: 1.1783 1.764 proj of the Feb 28 - Mar 18 - 27 price swing
  • RES 3: 1.1696 1.618 proj of the Feb 28 - Mar 18 - 27 price swing
  • RES 2: 1.1685 76.4% retracement of the Jan ‘21 - Sep ‘22 downleg
  • RES 1: 1.1631 High Jun 12
  • PRICE: 1.1549 @ 15:17 BST Jun 17
  • SUP 1: 1.1419 20-day EMA
  • SUP 2: 1.1278/1.1210 50-day EMA and a pivot level / Low May 29
  • SUP 3: 1.1131 Low May 16 
  • SUP 4: 1.1065 Low May 12 and a reversal trigger 

The trend set-up in EURUSD remains bullish and the pair continues to trade closer to its recent highs. A key resistance at 1.1573, the Apr 21 high, has been breached. This strengthens the bullish theme and confirms a resumption of this year's uptrend. Sights are on 1.1696 next, a Fibonacci projection. Initial firm support is at 1.1419, the 20-day EMA. The 50-day EMA lies at 1.1278. Short-term weakness is considered corrective.      

OPTIONS: Notable Bobl Put, Euribor Call Ladder Buying

Jun-17 16:52

Tuesday's Europe rates/bond options flow included:

  • OEQ5 117p, bought for 18.5 in ~11.2k
  • RXN5 130/129.50ps, sold at 9.5 in 2k
  • ERU5 98.25/98.37cs, bought for 1 in 10k
  • ERZ5 98.25/98.50/98.625c ladder, bought for 3.75 in 3.5k
  • ERZ5 98.25/98.375/98.50c ladder, bought for half in 2k
  • ERZ5 98.25/98.50cs vs 98.00p, bought the cs for 2.25 in 5k
  • 2RU5 97.93/97.75ps 1x2, bought for 0.75 in 2.5k
  • SFIZ5 96.50/96.70cs, bought for 4 in 5.3k
  • SFIH6 95.70/95.40ps 1x2, sold the 1 at -0.25 in 4k

FED: US TSY 4Y-10M TIPS AUCTION: NON-COMP BIDS $53 MLN FROM $23.000 BLN TOTAL

Jun-17 16:45
  • US TSY 4Y-10M TIPS AUCTION: NON-COMP BIDS $53 MLN FROM $23.000 BLN TOTAL