OUTLOOK: Price Signal Summary - Corrective Cycle In EURUSD Remains In Play
Jul-11 10:36
* In FX, EURUSD has traded lower this week. The downleg this month appears corrective and the tren...
Want to read more?
Find more articles and bullets on these widgets:
Historical bullets
US 10YR FUTURE TECHS: (U5) Bearish Threat Still Present
Jun-11 10:35
- RES 4: 111-30 76.4% retracement of the May 1 - 22 downleg
- RES 3: 111-19+ 1.0% 10-dma envelope
- RES 2: 111-14+ High Jun 5 & 61.8% of the May 1 - 22 downleg
- RES 1: 110-19+ 50-day EMA
- PRICE: 111-02+ @ 11:24 BST Jun 11
- SUP 1: 109-26 Low May 29
- SUP 2: 109-12+ Low May 22 and the bear trigger
- SUP 3: 109-09+ Low Apr 11 and key support
- SUP 4: 108-25+ 0.764 proj of the Apr 7 - 11 - May 1 price swing
The recent reversal in Treasury futures undermines a bullish theme and a bear threat remains present. An extension down would expose support at 109-26, the May 29 low, where a break would open key support and the bear trigger, at 109-12+, the May 22 low. Key short-term resistance has been defined at 111-14+, a Fibonacci retracement and the Jun 5 high. Clearance of this hurdle would be bullish. First resistance is 110-19+, the 50-day EMA.
EURIBOR OPTIONS: Call Spread, Spread
Jun-11 10:30
ERH6/0RH6 98.375/98.625cs spread, bought the front for half in 20k.
LOOK AHEAD: Wednesday Data Calendar: CPI, Tsy 10Y Auction Re-Open
Jun-11 10:27
- US Data/Speaker Calendar (prior, estimate)
- 11-Jun 0700 MBA Mortgage Applications (-3.9%, --)
- 11-Jun 0830 CPI MoM (0.2%, 0.2%), YoY (2.3%, 2.4%)
- 11-Jun 0830 CPI Ex Food and Energy MoM (0.2%, 0.3%), YoY (2.8%, 2.9%)
- 11-Jun 0830 CPI Index NSA (320.795, 321.732)
- 11-Jun 0830 CPI Core Index SA (326.430, 327.319)
- 11-Jun 0830 Real Avg Hourly Earning YoY (1.5% rev, --)
- 11-Jun 0830 Real Avg Weekly Earnings YoY (1.8% rev, --)
- 11-Jun 1130 US Tsy $60B 17W bill auction
- 11-Jun 1300 US Tsy $39B 10Y Note re-open (91282CNC1)
- 11-Jun 1400 Federal Budget Balance ($258.4B, -$314.0B)
- Source: Bloomberg Finance L.P. / MNI
