LOOK AHEAD: UK Timeline of Key Events (Times GMT)
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LOOK AHEAD: Eurozone Timeline of Key Events (Times GMT)
| Date | Time | Country | Event |
| 05-Nov | 0700 | DE | Manufacturing Orders |
| 05-Nov | 0745 | FR | Industrial Production |
| 05-Nov | 0815 | ES | S&P Global Services / Composite PMI |
| 05-Nov | 0845 | IT | S&P Global Services / Composite PMI |
| 05-Nov | 0850 | FR | S&P Global Services / Composite PMI (f) |
| 05-Nov | 0855 | DE | S&P Global Services / Composite PMI (f) |
| 05-Nov | 0900 | IT | Retail Sales |
| 05-Nov | 0900 | EU | S&P Global Services / Composite PMI (f) |
| 05-Nov | 1000 | EU | EZ PPI |
| 06-Nov | 0700 | DE | Industrial Production |
| 06-Nov | 0800 | ES | Industrial Production |
| 06-Nov | 0810 | EU | ECB Schnabel At ECB Money Market Conference |
| 06-Nov | 0830 | EU | S&P Construction PMI / ECB De Guindos Natixis Webinar |
| 06-Nov | 1000 | EU | EZ Retail Sales |
| 06-Nov | 1830 | EU | ECB Lane At IMF Conference |
| 07-Nov | 0700 | DE | Trade Balance |
| 07-Nov | 0745 | FR | Foreign Trade |
| 07-Nov | 1330 | EU | ECB Elderson At Bundesbank Event |
BOBL TECHS: (Z5) Bear Cycle
- 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: 118.190 @ 05:59 GMT Nov 5
- 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 continues to trade 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 118.162, 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.
EURUSD TECHS: Trend Outlook Remains Bearish
- RES 4: 1.1728 High Oct 17
- RES 3: 1.1669 High Oct 28 and key resistance
- RES 2: 1.1577/1618 Low Oct 22 / 20-day EMA
- RES 1: 1.1542 Low Oct 9
- PRICE: 1.1493 @ 06:08 GMT Nov 5
- SUP 1: 1.1460 1.382 proj of the Oct 17 - 22 - 28 price swing
- SUP 2: 1.1425 1.500 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 and Tuesday’s extension reinforces current conditions. The move down maintains the bearish price sequence of lower lows and lower highs. Furthermore, the pair has breached a number of important short-term supports, the most recent being 1.1516, the 76.4% retracement of the Aug 1 - Sep 17 bull leg. This exposes key support at 1.1392, the Aug 1 low. Initial resistance is 1.1542, the Oct 9 low.
