US 10YR FUTURE TECHS: (H5) Bull Cycle Remains In Play
Jan-30 11:25
- RES 4: 110-25 High Dec 12
- RES 3: 110-19 76.4% retracement of the Dec 6 - Jan 13 bear leg.
- RES 2: 109-31 High Dec 18
- RES 1: 109-11+/12 50-day EMA / High Jan 27
- PRICE: 109-08+ @ 11:14 GMT Jan 30
- SUP 1: 108-00/107-06 Low Jan 16 / 13 and the bear trigger
- SUP 2: 107-04 Low Apr 25 ‘24 and a key support
- SUP 3: 107-00 Round number support
- SUP 4: 106-11 2.00 proj of the Oct 1 - 14 - 16 price swing
A bullish corrective cycle in Treasury futures remains intact and the contract is holding on to its recent gains. 109-11+, the 50-day EMA, remains exposed. A clear break of it would strengthen a bullish theme and open 109-31, the Dec 18 high. The medium-term trend condition is bearish. The bear trigger is 107-06, the Jan 13 low. Initial support has been defined at 108-00, the Jan 16 low.
Want to read more?
Find more articles and bullets on these widgets:
Historical bullets
EURIBOR OPTIONS: Put ladder buyer
Dec-31 11:16
ERZ5 98.00/97.75/97.50p ladder, bought for flat in 1k.
US: SOFR FIX - 31/12/24
Dec-31 11:01
SOFR FIX - Source BBG/CME
- 1M 4.33249 -0.00455
- 3M 4.30510 -0.00534
- 6M 4.25001 -0.01229
- 12M 4.17500 -0.03184
FOREX: USD/CNH High Puts Price in Range of Record Levels
Dec-31 10:34
- Price action Tuesday has been muted, with market closures across Europe keeping volumes low, and participation thin.
- USD/CNH has drawn interest - The offshore CNH slipped further: USD/CNH had already accelerated upside on the break of the mid-December high, which also coincided with the local onshore close. USD/CNH now well clear of 7.3500 and, importantly, has now topped 7.3682, the Sep 2023 high. This makes 7.3749 the next upside target, above which would mark a record high.
- China's December PMI data came and went with little fanfare: the composite PMI picked up to 52.2 from 50.8 previously thanks to the outperforming non-manufacturing sector.
- Datapoints are few and far between - with just the house price index for October and Dallas Fed Services Activity set to cross.
