NATGAS: Israel Approves Updated Development Plan for Leviathan

• Date $MM Issuer (Priced *, Launch #)
• 07/22 $Benchmark General Electric 5Y +47, +10Y +62
• 07/22 $Benchmark NY Life 3Y +40, 3Y SOFR+66
• 07/22 $1.5B #Wells Fargo 2031-tap +72
• Expected Wednesday:
• 07/23 $Benchmark JFM (Japan Finance Org for Munis) 5Y SOFR+68a

• RES 4: 1.1923 2.000 proj of the Feb 28 - Mar 18 - 27 price swing
• RES 3: 1.1899 2.0% 10-dma envelope
• RES 2: 1.1851 High Sep 10 2021 
• RES 1: 1.1750/1829 High Jul 10 / 01 and the bull trigger 
• PRICE: 1.1707 @ 15:45 BST Jul 22
• SUP 1: 1.1557 Low Jul 17
• SUP 2: 1.1525 50-day EMA
• SUP 3: 1.1446 Low Jun 19
• SUP 4: 1.1405 Low Jun 11  

EURUSD has recovered from last week’s 1.1557 low, on Jul 17. Recent weakness is considered corrective. Support to watch lies at the 50day EMA , at 1.1525. A clear break of this average is required to signal a stronger reversal. For now, trend indicators continue to highlight a dominant uptrend. A stronger resumption of gains would open 1.1829, the Jul 1 high and the bull trigger. 

Tuesday's Europe rates/bond options flow included:

• DUU5 107.20 puts, bought for 8 in 6k
• RXZ5 127.00/125.50 put spread, paper pays 35 in 5k
• ERZ5 98.25/98.375/98.50/98.625 call condor, paper sells for 2.5 in 3.75k
• SFIZ5 96.35/96.50/97.00 call ladder sold at 3.5 in 4k
• SFIF6 96.25/96.00 1x2 put spread, bought for 2.75 in 8k