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 |
| 03-Nov | 0815 | ES | S&P Global Manufacturing PMI (f) |
| 03-Nov | 0845 | IT | S&P Global Manufacturing PMI (f) |
| 03-Nov | 0850 | FR | S&P Global Manufacturing PMI (f) |
| 03-Nov | 0855 | DE | S&P Global Manufacturing PMI (f) |
| 03-Nov | 0900 | EU | S&P Global Manufacturing PMI (f) |
| 03-Nov | 1200 | EU | ECB Lane Lecture In Dublin |
| 04-Nov | 0740 | EU | ECB Lagarde Keynote Speech At Bulgarian National Bank |
| 04-Nov | 0745 | FR | Budget Balance |
| 04-Nov | 0945 | EU | ECB Lagarde At Bulgarian National Bank Conference |
| 05-Nov | 0700 | DE | Manufacturing Orders |
| 05-Nov | 0745 | FR | Industrial Production |
| 05-Nov | 0815 | ES | S&P Global Services / Composite PMI |
| 05-Nov | 0845 | IT | S&P Global Services / Composite PMI |
| 05-Nov | 0850 | FR | S&P Global Services / Composite PMI (f) |
| 05-Nov | 0855 | DE | S&P Global Services / Composite PMI (f) |
| 05-Nov | 0900 | IT | Retail Sales |
| 05-Nov | 0900 | EU | S&P Global Services / Composite PMI (f) |
| 05-Nov | 1000 | EU | EZ PPI |
BOBL TECHS: (Z5) Bear Cycle Remains Intact
- 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: 118.360/600 High Oct 28 / 24
- PRICE: 118.250 @ 05:55 GMT Nov 3
- SUP 1: 118.020 Low Oct 30
- 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
A bear cycle in Bobl futures remains intact for now. The move down that started Oct 17 is considered corrective and has allowed a recent overbought trend condition to unwind. However, support around the 50-day EMA, at 118.166, has been breached. This signals scope for a deeper retracement and opens 117.900, the Oct 10 low. Initial resistance is at 118.360, the Oct 28 high.
EURUSD TECHS: Has Breached Support
- RES 4: 1.1820 High Sep 23
- RES 3: 1.1775 61.8% retracement of the Sep 17 - Oct 9 bear leg
- RES 2: 1.1669/1728 High Oct 28and key resistance / High Oct 17
- RES 1: 1.1577 Low Oct 22
- PRICE: 1.1537 @ 06:06 GMT Nov 3
- SUP 1: 1.1522 Low Oct 31
- SUP 2: 1.1516 76.4% retracement of the Aug 1 - Sep 17 bull leg
- SUP 3: 1.1392 Low Aug 1 and bear trigger
- SUP 4: 1.1313 Low May 30
EURUSD is trading at its recent lows. Friday’s move down resulted in a breach of the bear trigger at 1.1542, the Oct 9 low. This confirms a resumption of the current downtrend and paves the way for an extension towards 1.1516, a Fibonacci retracement. Clearance of 1.1516 would expose key support at 1.1392, the Aug 1 low. Price needs to trade above 1.1669, the Oct 17 high, to reinstate a bull theme.
