LOOK AHEAD: Eurozone Timeline of Key Events (Times GMT)
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LOOK AHEAD: Eurozone Timeline of Key Events (Times GMT)
| Date | Time | Country | Event |
| 27-Oct | 0900 | EU | M3 / Consumer Expectations Survey |
| 27-Oct | 0900 | DE | IFO Business Climate Index |
| 27-Oct | 0915 | EU | ECB Elderson Keynote on Banking Governance |
| 28-Oct | 0700 | DE | GFK Consumer Climate |
| 28-Oct | 0900 | IT | ISTAT Consumer/Business Confidence |
| 28-Oct | 0900 | EU | ECB Bank Lending Survey |
| 29-Oct | 0800 | ES | GDP (p) |
| 29-Oct | 1100 | IT | PPI |
| 30-Oct | 0630 | FR | GDP (p) / Consumer Spending |
| 30-Oct | 0800 | ES | HICP (p) |
| 30-Oct | 0855 | DE | Unemployment |
| 30-Oct | 0900 | DE | GDP (p) / State-level CPI |
| 30-Oct | 0900 | IT | GDP (p) |
| 30-Oct | 1000 | EU | ESI / Unemployment / Flash GDP |
| 30-Oct | 1300 | DE | Germany HICP (p) |
| 30-Oct | 1315 | EU | ECB Decision |
| 30-Oct | 1345 | EU | ECB Press Conference |
| 30-Oct | 1515 | EU | ECB Lagarde Presents Rate Decision on ECB Podcast |
EURGBP TECHS: Trend Structure Remains Bullish
- RES 4: 0.8835 High May 3 2023
- RES 3: 0.8800 Round number resistance
- RES 2: 0.8769 High Jul 28 and the bull trigger
- RES 1: 0.8751 High Sep 25
- PRICE: 0.8726 @ 06:14 BST Oct 27
- SUP 1: 0.8683/8656 50-day EMA / Low Aug 10
- SUP 2: 0.8633 Low Sep 15
- SUP 3: 0.8597 Low Aug 14 and key support
- SUP 4: 0.8562 50.0% retracement May 29 - Jul 28 upleg
The underlying trend condition in EURGBP is unchanged, it remains bullish and the cross is trading above support. Attention is on key resistance at 0.8769, the Jul 28 high and bull trigger. A break of this hurdle would confirm a resumption of the uptrend. The first support to monitor lies at 0.8683, the 50-day EMA. It has recently been pierced, a clear break of this level would signal scope for a deeper retracement towards 0.8633, the Sep 15 low.
BUND TECHS: (Z5) Corrective Cycle Extends
- RES 4: 130.99 76.4% retracement of Jun 13 - Sep 25 bear leg (cont)
- RES 3: 130.80 High Jun 13 and key resistance
- RES 2: 130.63 1.500 proj of the Sep 3 - 10 - 25 price swing
- RES 1: 130.07/59 High Oct 24 / 17 and the bull trigger
- PRICE: 129.30 @ 05:52 BST Oct 27
- SUP 1: 129.29 Intraday low
- SUP 2: 129.04 50-day EMA
- SUP 3: 128.52 76.4% retracement of the Sep 25 - Oct 17 Bull leg
- SUP 4: 128.25 Low Oct 7
Bund futures traded sharply lower last week and the contract maintains a softer tone, for now. The move down is considered corrective and is allowing an overbought trend condition to unwind. Initial key support at 129.43, the 20-day EMA, has been breached. This exposes the 50-day EMA, currently at 129.06. For bulls, a reversal would refocus attention of the key resistance at 130.59, the Oct 17 high.
