US 10YR FUTURE TECHS: (Z5) Bear Threat Remains Present
- RES 4: 114-02 High Oct 17 and the bull trigger
- RES 3: 113-29 High Oct 22
- RES 2: 113-18+ High Oct 28
- RES 1: 113-06 20-day EMA
- PRICE: 112-24 @ 17:00 GMT Oct 31
- SUP 1: 112-16 Low Oct 30
- SUP 2: 112-14 Low Oct 9
- SUP 3: 112-06 Low Sep 25 and a reversal trigger
- SUP 4: 111-28+ Trendline support drawn from the May 22 low
This week’s sell-off in Treasuries undermines a recent bullish theme. The contract has traded through the 50-day EMA, at 112-27, highlighting potential for a deeper retracement near-term. An extension lower would open 112-06 Low Sep 25 and the next key support. On the upside, the contract needs to trade above 113-18+, the Oct 28 high to signal a possible bullish reversal.
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US DATA: MNI's Guide To U.S. Data Releases In Federal Government Shutdown
Please see PDF below for MNI's rough guide to the upcoming data schedule postponements as a result of the federal government shutdown. We will update this document as and when we learn more about individual release plans.
US: White House Press Conference Underway Shortly
White House Press Secretary Karoline Leavitt is shortly due to brief reporters at the White House. LIVESTREAM
- The presser will be dominated by questions on the US government shutdown that began at 00:01 ET 05:01 BST this morning and has been characterised by the Trump administration as a "Democrat shutdown".
- MNI's Political Risk team provided analysis on the consequences of a shutdown and potential off-ramps to reopen the government in today's edition of the MNI US Daily Brief.
EURUSD TECHS: Bullish Outlook
- RES 4: 1.2063 2.236 proj of the Feb 28 - Mar 18 - 247 price swing
- RES 3: 1.2000 Round number resistance
- RES 2: 1.1919/23 High Sep 17 / 2.0 proj of Feb 28 - Mar 18-27 swing
- RES 1: 1.1820 High Sep 23
- PRICE: 1.1730 @ 16:26 BST Oct 1
- SUP 1: 1.1684/46 50-day EMA / Low Sep 25
- SUP 2: 1.1574 Low Aug 27
- SUP 3: 1.1528 Low Aug 5
- SUP 4: 1.1392 Low Aug 1 and bear trigger.
The trend theme in EURUSD remains bullish and the pullback between Sep 17 - 25, appears corrective. Support to watch lies at 1.1684. the 50-day EMA. It has been pierced, a clear break of this average would signal scope for a deeper retracement and expose 1.1574 initially, the Aug 27 low. For bulls, a clear resumption of gains would refocus attention on 1.1923, a Fibonacci projection. Initial firm resistance to watch is 1.1820, the Sep 23 high.
