LOOK AHEAD: Eurozone Timeline of Key Events (Times GMT)

Mar-01 06:29
Date Time Country Event
01-Mar 0815 ES S&P Global Manufacturing PMI (f)
01-Mar 0845 IT S&P Global Manufacturing PMI (f)
01-Mar 0850 FR S&P Global Manufacturing PMI (f)
01-Mar 0855 DE S&P Global Manufacturing PMI (f)
01-Mar 0900 EU S&P Global Manufacturing PMI (f)
01-Mar 1000 EU HICP (p)/ Unemployment
01-Mar 1000 IT HICP (p)
05-Mar 0745 FR Industrial Production
05-Mar 0855 DE S&P Global Final Services/Composite PMI
05-Mar 0900 IT GDP (f)
05-Mar 1000 EU PPI
06-Mar 0700 DE Trade Balance
06-Mar 0830 EU S&P Global Final Eurozone Construction PMI
06-Mar 1000 EU Retail Sales
07-Mar 0700 DE Manufacturing Orders
07-Mar 1315 EU ECB Deposit/ Main Refi/Lending Rate
07-Mar 1330 EU ECB Monetary Policy Press Conference
08-Mar 0700 DE Industrial Production/ PPI

Historical bullets

EUROSTOXX50 TECHS: (H4) Bullish Conditions Remain Intact

Jan-31 06:28
  • RES 4: 4753.50 1.618 projection of the Nov 8 - 24 - 28 price swing
  • RES 3: 4725.50 1.50 projection of the Nov 8 - 24 - 28 price swing
  • RES 2: 4700.00 Round number resistance
  • RES 1: 4688.00 High Jan 30
  • PRICE: 4682.00 @ 06:11 GMT Jan 31
  • SUP 1: 4599.00/4549.60 High Jan 2 / 20-day EMA
  • SUP 2: 4402.00 Low Jan 17 and key short-term support
  • SUP 3: 4370.00 Low Nov 28
  • SUP 4: 4334.00 50.0% retracement of the Oct 27 - Dec 14 bull leg

Eurostoxx 50 futures trend conditions remain firm and the contract is holding on to its recent gains. Key resistance at 4634.00, the Dec 14 high, has recently been cleared. The break confirms a resumption of the medium-term uptrend and sights are on the 4700.00 handle next. Initial firm support lies at 4549.60, the 20-day EMA. Key trend support has been defined at 4402.00, the Jan 17 low.

LOOK AHEAD: UK Timeline of Key Events (Times GMT)

Jan-31 06:23
Date UK Period Event
01-Feb 0930 Jan S&P Global Manufacturing PMI (Final)
01-Feb 1200 Bank Of England Interest Rate
01-Feb 1230 BoE Press Conference
01-Feb 1400 Jan DMP Data
02-Feb 1215 BOE's Pill- MPR National Agency briefing
06-Feb 0001 Jan BRC-KPMG Shop Sales Monitor
06-Feb 0930 Jan S&P Global/CIPS Construction PMI
07-Feb 0840 BoE's Breeden Speaks At Women In Economics Event
08-Feb 1500 BoE's Mann Speaks At OMFIF
13-Feb 0700 Dec/Jan Labour Market Survey
14-Feb 0700 Jan Consumer inflation report / Producer prices
15-Feb 0700 Dec / Q4 GDP / Services / Production / Trade / Construction
16-Feb 0700 Jan Retail Sales
21-Feb 0001 Jan XpertHR pay deals for whole economy
21-Feb 0700 Jan Public Sector Finances
22-Feb 0930 Feb S&P Global/ CIPS UK Flash PMI

EURGBP TECHS: Bearish Outlook

Jan-31 06:21
  • RES 4: 0.8768 High Nov 20
  • RES 3: 0.8715 High Dec 28 and the bull trigger
  • RES 2: 0.8676 High Jan 3
  • RES 1: 0.8576/8609 20- and 50-day EMA values
  • PRICE: 0.8536 @ 06:20 GMT Jan 31
  • SUP 1: 0.8513 Low Jan 29
  • SUP 2: 0.8493 Low Aug 23 2023 and a key medium-term support
  • SUP 3: 0.8454 61.8% of the Mar 7 - Sep 26 ‘23 bull phase
  • SUP 4: 0.8388 Low Aug 17 2023

EURGBP bears remain in the driver’s seat. Recent weakness resulted in a break of support at 0.8549, the Dec 11 low, strengthening the current bearish condition. Monday’s extension, further reinforces the downtrend. Sights are on 0.8493, the Aug 23 ‘23 low and a key support. The 50-day EMA, at 0.8609, is the initial firm resistance to watch. First resistance is at 0.8576, the 20-day EMA.