BOBL TECHS: (M5) Support Remains Intact
- RES 4: 119.960 High Apr 7 and the bull trigger
- RES 3: 119.780 High Apr 22
- RES 2: 119.600 High May 7
- RES 1: 119.250 High May 23
- PRICE: 118.860 @ 06:06 BST May 29
- SUP 1: 118.728/390 50-day EMA / Low May 22
- SUP 2: 118.060 Low May 14 and 15 and the bear trigger
- SUP 3: 117.680 Low Apr 9 and a key support
- SUP 4: 117.600 Low Mar 28
The recovery since May 14 in Bobl futures continues to highlight a reversal and the end of the Apr 22 - May 15 corrective cycle. A continuation higher would pave the way for a move towards 119.600, the May 7 high. Further out, scope would be for an extension towards 119.960, the Apr 7 high and a key resistance. On the downside, key support and the bear trigger lies at 118.060, the May 14 / 15 low.
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LOOK AHEAD: Eurozone Timeline of Key Events (Times BST)
| Date | Time | Country | Event |
| 29-Apr | 0700 | DE | GFK Consumer Climate |
| 29-Apr | 0800 | ES | HICP (p) / GDP (p) |
| 29-Apr | 0800 | EU | ECB's Cipollone On Financial and Trade Fragmentation |
| 29-Apr | 0900 | EU | M3 / Consumer Expectations Survey |
| 29-Apr | 0900 | IT | ISTAT Consumer/Business Confidence |
| 29-Apr | 1000 | EU | Consumer Confidence, Industrial Sentiment |
| 30-Apr | 0630 | FR | GDP (p) / Consumer Spending |
| 30-Apr | 0700 | DE | Import/Export Prices / Retail Sales |
| 30-Apr | 0745 | FR | HICP (p) / PPI |
| 30-Apr | 0855 | DE | Unemployment |
| 30-Apr | 0900 | DE | GDP (p) / State-level Inflation Data |
| 30-Apr | 0900 | IT | GDP (p) |
| 30-Apr | 1000 | IT | HICP (p) |
| 30-Apr | 1000 | EU | EMU Preliminary Flash GDP |
| 30-Apr | 1100 | IT | PPI |
| 30-Apr | 1300 | DE | HICP (p) |
SCHATZ TECHS: (M5) Bull Cycle Still In Play
- RES 4: 107.812 0.618 proj of the Mar 6 - Apr 7 - 9 price swing
- RES 3: 107.800 Round number resistance
- RES 2: 107.775 High Apr 7 and the bull trigger
- RES 1: 107.735 High Apr 22
- PRICE: 107.505 @ 05:56 BST Apr 29
- SUP 1: 107.425 Low Apr 23
- SUP 2: 107.373 20-day EMA
- SUP 3: 107.125 Low Apr 10
- SUP 4: 106.965 Low Apr 9 and a key support
A bull cycle in Schatz futures remains in play and the latest pullback appears corrective. Sights are on 107.775, the Apr 7 high and bull trigger. Clearance of 107.775 would confirm a resumption of the uptrend and open 107.812, a Fibonacci projection. Moving average studies remain in a bull-mode position, highlighting a dominant uptrend. Firm support to watch lies at 107.373, the 20-day EMA.
GBPUSD TECHS: Fresh Cycle High
- RES 4: 1.3605 1.236 proj of the Feb 28 - Apr 3 - 7 price swing
- RES 3: 1.3550 High Feb 24 ‘22
- RES 2: 1.3510 1.236 proj of the Feb 28 - Apr 3 - 7 price swing
- RES 1: 1.3444 High Apr 28
- PRICE: 1.3399 @ 06:13 BST Apr 29
- SUP 1: 1.3234 Low Apr 23
- SUP 2: 1.3180 20-day EMA
- SUP 3: 1.3041/2985 Low Apr 14 / 50-day EMA
- SUP 4: 1.2807 Low Apr 10
Bullish trend conditions in GBPUSD remain intact and Monday’s positive start to the week reinforces current conditions. A fresh cycle high yesterday highlights a resumption of the uptrend and maintains the price sequence of higher highs and higher lows. Moving average studies are in a bull-mode position too, signalling a dominant uptrend. Sights are on 1.3510, a Fibonacci projection. Support to watch lies at 1.3180, the Apr 28 low.
