EUROSTOXX50 TECHS: (Z5) Corrective Pullback
Nov-14 14:50
- RES 4: 5900.00 Round number resistance
- RES 3: 5858.59 1.618 proj of the Aug 1 - 22 - Sep 2 price swing
- RES 2: 5853.50 Bull channel top drawn from the Aug 1 low
- RES 1: 5825.00 High Nov 13 and the bull trigger
- PRICE: 5649.00 @ 14:35 GMT Nov 14
- SUP 1: 5637.00 Intraday low
- SUP 2: 5600.97 50-day EMA
- SUP 3: 5593.50 Bull channel base drawn from the Aug 1 low
- SUP 4: 5497.00 Low Oct 14
A medium-term bull trend in EUROSTOXX 50 futures remains intact and this week’s gains reinforce bullish conditions. However, the latest pullback suggests the start of a corrective phase. Price has traded through the 20-day EMA. Attention turns to support at the 50-day EMA, at 5600.79, and 5593.50, the base of a bull channel drawn from the Aug 1 low. These two price points represent key support. A break would highlight a stronger reversal.
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GILTS: Futures Unable To Test Next Resistance
Oct-15 14:40
Gilts tracking moves in wider core global FI markets here, trading to fresh session highs before fading.
- Futures trade as high as 92.51, bulls fail to test the resistance cluster at 92.72/73.
- Yields 3.5-6.5bp lower, with the wings of the curve underperforming.
- Key support levels in 10- & 30-Year yields (4.496% & 5.309%) remain untouched.
- Dovish repricing in GBP STIRs holds, SONIA futures 0.5-4.5 higher, BoE-dated OIS showing ~9bp of easing through year-end.
- We have noted the potential for further outperformance in SFIZ6 vs. ERZ6.
- BoE Deputy Governor Breeden will speak twice this evening, although the subject matters of the addresses mean that she is unlikely to provide meaningful comments on monetary policy.
- Monthly GDP and economic activity data is due tomorrow, with BBG survey consensus looking for modest GDP growth (+0.1% M/M)
OPTIONS: Expiries for Oct16 NY cut 1000ET (Source DTCC)
Oct-15 14:35
- EUR/USD: $1.1500-20(E1.5bln), $1.1580-00(E4.0bln), $1.1650-55(E783mln), $1.1700-05(E1.2bln), $1.1735-40(E837mln)
- USD/JPY: Y150.50($729mln), Y151.00($511mln), Y152.00($728mln)
- AUD/USD: $0.6500-20(A$598mln)
- USD/CAD: C$1.3975($946mln)
CRYPTO: Bitcoin Upside Call Spread
Oct-15 14:28
- BTC (26th Dec) 135k/150k Call Spread, bought for 1575 in 300.
Note that the reports on Bitcoin Option have been downside protection of late.
