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 |
| 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 |
| 31-Oct | 0700 | DE | Import/Export Prices / Retail Sales |
| 31-Oct | 0745 | FR | HICP (p) / PPI |
| 31-Oct | 1000 | EU | EZ HICP Flash |
| 31-Oct | 1000 | IT | Italy Flash Inflation |
GBPUSD TECHS: Bear Threat Still Present
- RES 4: 1.3613 76.4% retracement of the Sep 17 - Oct 14 bear leg
- RES 3: 1.3544 61.8% retracement of the Sep 17 - Oct 14 bear leg
- RES 2: 1.3527 High Oct 1 and a pivot level
- RES 1: 1.3388/3471 20-day EMA / High Oct 17 and a key resistance
- PRICE: 1.3363 @ 06:17 GMT Oct 28
- SUP 1: 1.3249 Low Oct 14 and the bear trigger
- SUP 2: 1.3220 0.764 proj of the Sep 17 - 25 - Oct 1 price swing
- SUP 3: 1.3142 Low Aug 1 and a key support
- SUP 4: 1.3041 Low Apr 14
A bear threat in GBPUSD remains present. Recent weakness highlights the end of the corrective bounce between Oct 14 - 17. A resumption of weakness would expose key short-term support at 1.3249, the Oct 14 low and a bear trigger. Clearance of this level would resume the downleg that has been in place since Sep 17. Key near-term resistance is at 1.3471, the Oct 17 high. A break of this hurdle would instead signal a possible reversal.
BOBL TECHS: (Z5) Correction Extends
- RES 4: 119.000 Round number resistance
- RES 3: 118.970 High Oct 17 and key resistance
- RES 2: 118.770 High Oct 22
- RES 1: 118.600 High Oct 24
- PRICE: 118.190 @ 06:18 GMT Oct 27
- SUP 1: 118.153 50-day EMA
- SUP 2: 118.043 61.8% retracement of the Sep 25 - Oct 17 bull cycle
- SUP 3: 117.900 Low Oct 10
- SUP 4: 117.824 76.4% retracement of the Sep 25 - Oct 17 bull cycle
Bobl futures are trading closer to their recent lows and a bear cycle remains intact for now. The move down that started Oct 17 is - for now - considered corrective and has allowed an overbought trend condition to unwind. Attention is on the next important support at 118.153, the 50-day EMA. A clear breach of this average would signal scope for a deeper retracement. Initial resistance is at last Friday’s high of 118.600.
