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 |
| 15-Dec | 1000 | EU | EZ Industrial Production |
| 16-Dec | 0815 | FR | S&P Global Manuf / Services PMI (p) |
| 16-Dec | 0830 | DE | S&P Global Manuf / Services PMI (p) |
| 16-Dec | 0900 | EU | S&P Global Manuf / Serv / Comp PMI (p) |
| 16-Dec | 0900 | IT | Italy Final HICP |
| 16-Dec | 1000 | EU | Trade Balance |
| 16-Dec | 1000 | DE | ZEW Current Expectations Index |
| 16-Dec | 1000 | IT | Foreign Trade |
| 17-Dec | 0900 | DE | IFO Business Climate Index |
| 17-Dec | 1000 | EU | EZ HICP Final |
| 18-Dec | 0745 | FR | Manufacturing Sentiment |
| 18-Dec | 1000 | EU | EZ Construction Output |
| 18-Dec | 1315 | EU | ECB Rate Decision |
| 18-Dec | 1345 | EU | ECB Press Conference |
| 18-Dec | 1445 | EU | ECB Staff Macroeconomic Projections |
| 18-Dec | 1515 | EU | ECB Lagarde Presents Rate Decision on ECB Podcast |
GBPUSD TECHS: Trend Needle Points North
- RES 4: 1.3527 High Oct 1
- RES 3: 1.3471 High Oct 17
- RES 2: 1.3452 61.8% retracement of the Sep 17 - Nov 4 bear leg
- RES 1: 1.3438 High Dec 11
- PRICE: 1.3360 @ 06:09 GMT Dec 15
- SUP 1: 1.3281 50-day EMA
- SUP 2: 1.3277 20-day EMA
- SUP 3: 1.3180 Low Dec 2
- SUP 4: 1.3125 Low Nov 26
A fresh short-term cycle high last week in GBPUSD confirmed a resumption of the current bull leg. Scope is seen for a climb towards 1.3452 next, 61.8% of the Sep 17 - Nov 4 bear leg. Clearance of this hurdle would strengthen a bull theme and open 1.3527, the Oct 1 high. Initial firm support is seen at 1.3277, the 20-day EMA. A clear break of this average would highlight a bearish development and signal a possible reversal.
BOBL TECHS: (H6)Trend Set-Up Remains Bearish
- RES 4: 117.140 High Nov 26 and key resistance
- RES 3: 117.070 High Nov 27
- RES 2: 116.960 High Dec 1
- RES 1: 116.320/770 High Dec 8 / 3
- PRICE: 116.030 @ 05:20 GMT Dec 15
- SUP 1: 115.720 Low Dec 10
- SUP 2: 115.660.4.000 proj of the Nov 6 - 14 - 26 price swing
- SUP 3: 115.600 Round number support
- SUP 4: 115.573 4.236 proj of the Nov 6 - 14 - 26 price swing
The trend set-up in Bobl futures remains bearish following a recent impulsive sell-off. Price has breached support at 116.790, the Nov 14 and 20 low. This confirmed a resumption of the downtrend that started mid-October. Sights are on 115.660 next, a Fibonacci projection. Note that the trend is oversold, a stronger recovery would allow this set-up to unwind. First important resistance is at 116.770, the Dec 3 high.
