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

Dec-04 06:23
DateTimePeriodEvent
04-Dec0930NovBOE Decision Maker Panel Data / S&P Construction PMI
04-Dec1245---BOE Mann Panel at European & Global Issues Conference
05-Dec0730---DMO to publish issuance calendar for FQ4
08-Dec0001---KPMG-REC Report on Jobs
08-Dec1430---BOE Taylor Panel on Growth/Wealth/Debt
08-Dec1830---BOE Lombardelli Panel on Women in Economics
09-Dec0001NovBRC-KPMG Shop Sales Monitor
09-Dec1415---BOE MPC Members at TSC on MonPol Reports
10-Dec1000---Chancellor Reeves Testifies at TSC on Budget
11-Dec0001NovRICS House Prices
11-Dec0950---BOE Bailey Pre-Recorded Chat on Financial Stability
12-Dec0700OctGDP / Services / Production / Trade / Construction
12-Dec0930NovBank of England/Ipsos Inflation Attitudes Survey
16-Dec0700Oct/NovLabour Market Report
16-Dec0930DecS&P Global Manuf / Serv / Comp PMI (p)
17-Dec0001NovBrightmine pay deals for whole economy
17-Dec0700NovConsumer Inflation Report / Producer Prices
18-Dec1200---Bank Of England Interest Rate

Historical bullets

BOBL TECHS: (Z5) Bear Cycle Intact For Now

Nov-04 06:19
  • RES 4: 119.000 Round number resistance        
  • RES 3: 118.970 High Oct 17 and key resistance    
  • RES 2: 118.770 High Oct 22 
  • RES 1: 118.360/600 High Oct 28 / 24   
  • PRICE: 118.130 @ 05:55 GMT Nov 4
  • SUP 1: 118.020 Low Oct 30  
  • SUP 2: 118.043 61.8% retracement of the Sep 25 - Oct 17 bull cycle    
  • SUP 3: 117.900 Low Oct 10   
  • SUP 4: 117.824 76.4% retracement of the Sep 25 - Oct 17 bull cycle 

A bear cycle in Bobl futures remains intact for now and the contract is trading closer to its recent lows.The move down that started Oct 17 is considered corrective and has allowed a recent overbought trend condition to unwind. However, support around the 50-day EMA, at 118.163, has been breached. This signals scope for a deeper retracement and opens 117.900, the Oct 10 low. Initial resistance is at 118.360, the Oct 28 high.

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

Nov-04 06:18
DateTimeCountryEvent
04-Nov0740EUECB Lagarde Keynote Speech At Bulgarian National Bank
04-Nov0745FRBudget Balance
04-Nov0945EUECB Lagarde At Bulgarian National Bank Conference
05-Nov0700DEManufacturing Orders
05-Nov0745FRIndustrial Production
05-Nov0815ESS&P Global Services / Composite PMI
05-Nov0845ITS&P Global Services / Composite PMI
05-Nov0850FRS&P Global Services / Composite PMI (f)
05-Nov0855DES&P Global Services / Composite PMI (f)
05-Nov0900ITRetail Sales
05-Nov0900EUS&P Global Services / Composite PMI (f)
05-Nov1000EUEZ PPI
06-Nov0700DEIndustrial Production
06-Nov0800ESIndustrial Production
06-Nov0810EUECB Schnabel At ECB Money Market Conference
06-Nov0830EUS&P Construction PMI / ECB De Guindos Natixis Webinar
06-Nov1000EUEZ Retail Sales
06-Nov1830EUECB Lane At IMF Conference

EURUSD TECHS: Bear Cycle Still In Play

Nov-04 06:08
  • RES 4: 1.1779 High Oct 1
  • RES 3: 1.1728 High Oct 17
  • RES 2: 1.1669 High Oct 28 and key resistance 
  • RES 1: 1.1577/1618 Low Oct 22 / 20-day EMA 
  • PRICE: 1.1514 @ 06:07 GMT Nov 4
  • SUP 1: 1.1498 Low Nov 3
  • SUP 2: 1.1460 1.382 proj of the Oct 17 - 22 - 28 price swing
  • SUP 3: 1.1392 Low Aug 1 and bear trigger 
  • SUP 4: 1.1313 Low May 30

A bear leg in EURUSD remains intact. Last week’s move down resulted in a breach of an important support  at 1.1542, the Oct 9 low. This confirms a resumption of the current downtrend. Note that 1.1516, the 76.4% retracement of the Aug 1 - Sep 17 bull leg, has also been cleared. An extension of the bear leg would expose key support at 1.1392, the Aug 1 low. First resistance to watch is 1.1669, the Oct 17 high.