LOOK AHEAD: Eurozone Timeline of Key Events (Times GMT)
| Date | Time | Country | Event |
| 16-Jan | 0700 | DE | Germany CPI (f) |
| 16-Jan | 0900 | IT | Italy Final HICP |
| 19-Jan | 1000 | EU | EZ HICP Final |
| 19-Jan | --- | EU | ECB Cipollone at Eurogroup Meeting, Brussels |
| 20-Jan | 0700 | DE | PPI |
| 20-Jan | 0900 | EU | EZ Current Account |
| 20-Jan | 1000 | EU | EZ Construction Output / GDP 4th (Final) |
| 20-Jan | 1000 | DE | ZEW Current Expectations Index |
| 20-Jan | --- | EU | ECB de Guindos at ECOFIN Meeting, Brussels |
| 21-Jan | 0800 | EU | ECB Lagarde Dialogue at World Economic Forum |
| 21-Jan | 1700 | EU | ECB Lagarde on EU Single Market at WEF |
| 22-Jan | 1500 | EU | Consumer Confidence Indicator (p) |
| 23-Jan | 0745 | FR | Manufacturing Sentiment |
| 23-Jan | 0815 | FR | S&P Global Services / Manuf PMI (p) |
| 23-Jan | 0830 | DE | S&P Global Services / Manuf PMI (p) |
| 23-Jan | 0900 | EU | S&P Global Services / Manuf / Comp PMI (p) |
| 23-Jan | 1000 | EU | ECB Lagarde on Global Economic Outlook at WEF |
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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: 116.429/770 20-day EMA / High Dec 3
- PRICE: 116.100 @ 05:53 GMT Dec 17
- 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 is unchanged, it 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.
EURUSD TECHS: Shooting Star Candle
- RES 4: 1.1919 - High Sep 17 and a key M/T resistance
- RES 3: 1.1848 High Sep 18
- RES 2: 1.1813 76.4% retracement of the Sep 17 - Nov 5 bear leg
- RES 1: 1.1804 High Dec 16 and a key short-term resistance
- PRICE: 1.1729 @ 06:05 GMT Dec 17
- SUP 1: 1.1720/1658 20-day EMA
- SUP 2: 1.1634 50-day EMA
- SUP 3: 1.1615 Low Dec 9
- SUP 4: 1.1591 Low Dec 2
A bull cycle in EURUSD remains intact, however, a short-term reversal signal has appeared on the daily chart. Tuesday’s candle pattern is a shooting star candle formation. If correct, this suggests scope for a pullback near-term and a correction would allow an overbought trend condition to unwind. The first important support lies at 1.1658, the 20-day EMA. Key short-term resistance has been defined at 1.1804, the Dec 16 high.
BUND TECHS: (H6) Trading Closer To Its Recent Lows
- RES 4: 129.55 High Nov 26 and key resistance
- RES 3: 129.24 High Dec 1
- RES 2: 128.75 High Dec 3 and a key resistance
- RES 1: 128.08/24 High Dec 8 / 20-day EMA
- PRICE: 127.55 @ 05:37 GMT Dec 17
- SUP 1: 127.05 Low Dec 10
- SUP 2: 127.00 Round number support
- SUP 3: 126.81 2.764 projection of the Nov 12 - 20 - 26 price swing
- SUP 4: 126.58 3.000 projection of the Nov 12 - 20 - 26 price swing
Bund futures are in consolidation mode. A bear cycle is intact and the contract is trading closer to its recent lows. Scope is seen for an extension towards the 127.00 handle. Key short-term resistance is 128.75, the Dec 3 high. Note that the contract is still oversold. A stronger corrective bounce would allow this oversold condition to unwind. The price pattern on Dec 10 is a doji candle - a short-term reversal signal.
