SCHATZ TECHS: (M5) Pullback Considered Corrective
* RES 4: 107.812 0.618 proj of the Mar 6 - Apr 7 - 9 price swing * RES 3: 107.800 Round number resis...
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EUROSTOXX50 TECHS: (M5) Impulsive Bear Cycle Still In Play
- RES 4: 5144.09 20-day EMA
- RES 3: 5047.00 High Apr 4
- RES 2: 4931.00 Low Jan 13 (cont)
- RES 1: 4910.00 High Apr 7
- PRICE: 4507.00 @ 06:11 BST Apr 9
- SUP 1: 4444.00 - Low Apr 7
- SUP 2: 4372.46 76.4% of the Oct ‘23 - Mar ‘25 bull cycle (cont)
- SUP 3: 4336.00 Low Nov 28 ‘23 (cont)
- SUP 4: 4302.00 Low Nov 15 ‘23 (cont)
Eurostoxx 50 futures remain in a bear cycle following the latest impulsive sell-off and the contract is trading just above its recent lows. Monday’s move down resulted in a breach of a key support at 4699.00, the Nov 19 ‘24 low (cont). This exposes 4372.46, the 76.4% retracement of the Oct ‘23 - Mar ‘25 bull cycle (cont). The contract is oversold, a recovery would allow this condition to unwind. Initial resistance is 4910, the Apr 7 high.
LOOK AHEAD: UK Timeline of Events (Times BST)
| Date | UK | Period | Event |
| 10-Apr | 0001 | Mar | RICS House Prices |
| 10-Apr | 1400 | - | BoE's Breeden at MNI ‘UK economic and Financial Stability prospects’ |
| 11-Apr | 0001 | Mar | KPMG/REC Jobs Report |
| 11-Apr | 0700 | Feb | Monthly activity data |
| 11-Apr | - | - | BoE's Saporta 'How financial crisis reshape market and strategies’ |
| 12-Apr | - | - | BoE's Greene ‘The dynamics of monetary policy’ |
| 15-Apr | 0001 | Mar | BRC-KPMG Shop Sales Monitor |
| 15-Apr | 0700 | Feb/Mar | Labour Market Survey |
| 16-Apr | 0700 | Mar | CPI / PPI |
| 23-Apr | 0001 | Mar | Brightmine pay deals for whole economy |
| 23-Apr | 0700 | Mar | Public Sector Finances |
| 23-Apr | 0730 | FY25/26 | DMO remit revision following FY24/25 CGNCR |
| 23-Apr | 0930 | Apr | Flash PMIs |
| 24-Apr | 1100 | Apr | CBI Industrial Trends |
| 25-Apr | 0001 | Apr | Gfk Monthly Consumer Confidence |
| 25-Apr | 0700 | Mar | Retail Sales |
EURGBP TECHS: Continues To Appreciate
- RES 4: 0.8683 1.764 proj of the Mar 3 - 11 - 28 price swing
- RES 3: 0.8645 High Apr 23 ‘24
- RES 2: 0.8625 High Aug 8 ‘24 and a key resistance
- RES 1: 0.8612 Intraday high
- PRICE: 0.8610 @ 06:21 BST Apr 9
- SUP 1: 0.8470/0.8415 Low Apr 7 / 20-day EMA
- SUP 2: 0.8377 50-day EMA
- SUP 3: 0.8316 Low Mar 28 and a key near-term support
- SUP 4: 0.8299 Low Mar 5
EURGBP continues to appreciate as the cross maintains a bullish tone. A key resistance at 0.8474, the Jan 20 high, has recently been cleared. The breach highlights an important technical break and strengthens a bullish condition. Sights are 0.8625 next, the Aug 8 ‘24 high and a key resistance. Firm support lies at 0.8415, the 20-day EMA. Note that the cross is in extreme overbought territory, a pullback would allow this condition to unwind.
