LOOK AHEAD: UK Timeline of Key Events (All Times in GMT)
| Date | UK | Period | Event |
| 23-Jan | 0700 | Dec | Public Sector Finances |
| 24-Jan | 0001 | Dec | XpertHR pay deals for whole economy |
| 24-Jan | 0930 | Jan | S&P Global Manufacturing/ Services/Composite PMI flash |
| 24-Jan | 1100 | Jan | CBI Industrial Trends |
| 25-Jan | 1100 | Jan | CBI Distributive Trades |
| 26-Jan | 0001 | Jan | Gfk Monthly Consumer Confidence |
| 30-Jan | 0001 | Jan | BRC Monthly Shop Price Index |
| 30-Jan | 0930 | Dec | BOE M4/Lending to Individuals |
| 01-Feb | 0930 | Jan | S&P Global/ CIPS UK Final Manufacturing PMI |
| 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 | |
| 05-Feb | 0930 | Jan | S&P Global/ CIPS UK Final Services/Composite PMI |
| 06-Feb | 0001 | Jan | BRC-KPMG Shop Sales Monitor |
| 06-Feb | 0930 | Jan | S&P Global/CIPS Construction PMI |
| 14-Feb | 0700 | Jan | Consumer inflation report/ Producer Prices |
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USDCAD TECHS: Bears Remain In The Driver’s Seat
- RES 4: 1.3712 High Nov 24
- RES 3: 1.3619 High Dec 7 and 12 and key short-term resistance
- RES 2: 1.3576 50-day EMA
- RES 1: 1.3415/3495 High Dec 15 / 20-day EMA
- PRICE: 1.3247 @ 15:41 GMT Dec 22
- SUP 1: 1.3219 Low Dec 22
- SUP 2: 1.3184 Low Aug 1
- SUP 3: 1.3175 2.0% 10-dma envelope
- SUP 4: 1.3151 Low Jul 31
The USDCAD trend outlook remains bearish and price traded lower again Friday. The pair has recently cleared the bear trigger at 1.3480, the Dec 4 low. That break confirmed a resumption of the downtrend and maintains the price sequence of lower lows and lower highs. Sights are on 1.3184, the Aug 1 low. On the upside, key short-term resistance has been defined at 1.3619, the Dec 7 / 12 high.
AUDUSD TECHS: Heading North
- RES 4: 0.6921 High Feb 20
- RES 3: 0.6900 High Jun 16 and a key resistance
- RES 2: 0.6847 High Jul 20
- RES 1: 0.6825 High Dec 22
- PRICE: 0.6811 @ 15:39 GMT Dec 22
- SUP 1: 0.6779 Low Dec 21
- SUP 2: 0.6644/6526 20-day EMA / Low Dec 07 and key support
- SUP 3: 0.6494 Low Nov 20
- SUP 4: 0.6453 Low Nov 17
Bullish trend conditions in AUDUSD remain intact and Thursday’s rally reinforces current conditions. The pair is also trading higher Friday. This week’s gains mark an extension of the recent breach of resistance at 0.6691, the Dec 4 high and a bull trigger. Scope is seen for a climb towards 0.6847 next, the Jul 20 high. On the downside, key short-term support is unchanged at 0.6526, the Dec 7 low. Initial firm support is at 0.6644, the 20-day EMA.
EURJPY TECHS: Resistance Remains Intact
- RES 4: 161.78 High Dec 1
- RES 3: 159.93 High Dec 4
- RES 2: 159.01 50-day EMA
- RES 1: 158.67 High Dec 12
- PRICE: 156.82 @ 15:38 GMT Dec 22
- SUP 1: 155.39/153.23 Low Dec 19 / 7 and the bear trigger
- SUP 2: 152.24 3.764 proj of the Nov 16 - 21 - 27 price swing
- SUP 3: 151.42 Low Jul 28 and a key support
- SUP 4: 150.92 Low Jun 14
EURJPY traded sharply higher Tuesday breaching resistance at 157.68, the Dec 11 high. The cross has since pulled back. The next key hurdle to watch is 158.67, the Dec 12 high. Clearance of this level would signal a short-term reversal. Below 158.67, the recent recovery appears to be a correction and trend signals remain bearish. A continuation lower and a break of 153.23, the Dec 7 low and bear trigger, would resume the downtrend.
