US 10YR FUTURE TECHS: (U5) Cracks Resistance
Aug-01 13:02
- RES 4: 112-23 High May 1
- RES 3: 112-15 61.8% retracement of the Apr 7 - 11 sell-off
- RES 2: 112-12+ High Jul 1 and a bull trigger
- RES 1: 111-28 High Jul 3
- PRICE: 111-24+ @ 13:51 BST Aug 1
- SUP 1: 110-19+/08+ Low Jul 24 / Low Jul 14 & 16
- SUP 2: 110-03 76.4% retracement of the May 22 - Jul 1 bull leg
- SUP 3: 109-28 Low Jun 6 and 11
- SUP 4: 109.25 Low May 27
Treasury futures have rallied, resulting in a break of key short-term resistance at 111-14+, the high on Jul 22 and 30 low. A clear break of this hurdle highlights a stronger reversal and sets the scene for a climb towards 111-28, the Jul 3 high. Clearance of 111-28 would open 112-12+, the Jul 1 high and the next key resistance. On the downside, key support is 110-08+, the Jul 14 and 16 low. First support lies at 110-19+, the Jul 24 low.
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EUR: Weekly FX Exchange Traded Option
Jul-02 12:59
FX Exchange traded Weekly Option, short Term play, Covers NFP.
- EURUSD (7th July) 1.1700p bought for 0.0014 in 1.96k.
The underlying is higher than the Spot at 1.1812.
US TSYS: Post-ADP React UPDATE
Jul-02 12:53
- Treasury futures have retreated from post June ADP job loss highs, near open levels
- Currently, Sep'25 10Y trades -6.5 at 111-21 (111-18L / 111-30.5H).
- Attention back on first key support to watch is 111.07+, the 20-day EMA. Important resistance at 112-15, the 61.8% retracement of the Apr 7 - 11 steep sell-off.
- Curves extend steeper: 2s10s +5.110 at 51.823; 5s30s +4.765 at 97.529.
- Cross asset: Bbg US$ index firming again: 1191.86 (+2.35), stocks mildly weaker (SPX eminis -10.75 at 6238.0), crude firmer (WTI +0.70 at 66.15), Gold firmer at 3350.89.
GBP: Sterling Weakness Extends, GBPUSD 20-Day EMA Holds For Now
Jul-02 12:52
- The small pop higher for GBPUSD following the weaker-than-expected US ADP has been quickly faded, with cable extending fresh session lows in recent trade and the pair quickly slipping below 1.36 alongside the weakness for gilts.
- Spot has traded down to within 3 pips of initial 20-day EMA support which lies at 1.3586 and has been respected for now. A break of this average would signal scope for a more pronounced corrective pullback. The 50-day, which has supported dips well in recent months, intersects at 1.3439.
- For EURGBP, this week’s gains are reinforcing current bullish conditions. 0.8592, 61.8% of the Apr 11 - May 29 downleg, has been broken, as well as 0.8624, the Apr 21 high. Above here, the next significant targets are 0.8694 and 0.8738, the Apr 14 & 11 highs respectively.
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