EUROZONE T-BILL ISSUANCE: W/C February 10, 2025
France, Spain, Belgium, Finland and Italy have already issued this week. Issuance was E22.2bln in first round operations, down from E25.8bln last week.
For more on future auctions see the full MNI Eurozone/UK T-bill auction calendar here.
Want to read more?
Find more articles and bullets on these widgets:
Historical bullets
EUROSTOXX50 TECHS: (H5) Trend Structure Remains Bullish
- RES 4: 5097.00 High Oct 14
- RES 3: 5080.00 High Oct 15
- RES 2: 5068.13 0.764 proj of the Nov 21 - Dec 9 - 20 price swing
- RES 1: 5054.00 High Jul 8
- PRICE: 5008.00 @ 06:20 GMT Jan 14
- SUP 1: 4937.06/4876.00 50-day EMA / Low Jan 3
- SUP 2: 4829.00 Low Dec 20 and key short-term support
- SUP 3: 4800.87 76.4% retracement of the Nov 21 - Dec 9 bull cycle
- SUP 4: 4775.00 Low Nov 29
A bull cycle in the Eurostoxx 50 futures contract remains intact and the latest pullback appears corrective. Initial support is at 4937.06, the 50-day EMA. It has been pierced, a clear break of this EMA would undermine a bullish theme and signal scope for a deeper retracement. For bulls, resistance at 5040.00, Dec 9 high, has recently been pierced. Clearance of it would resume the bull cycle that started on Nov 21 and open 5068.13, a Fibonacci projection.
EURGBP TECHS: Bull Cycle Remains In Play
- RES 4: 0.8494 High Aug 26 ‘24
- RES 3: 0.8471 61.8% retracement of the Aug 8 - Dec 19 downleg
- RES 2: 0.8448 High Oct 31 and reversal trigger
- RES 1: 0.8424 50.0% retracement of the Aug 8 - Dec 19 downleg
- PRICE: 0.8395 @ 06:31 GMT Jan 14
- SUP 1: 0.8321/8284 50-day EMA / Low Jan 8
- SUP 2: 0.8263 Low Dec 31
- SUP 3: 0.8223 Low Dec 19
- SUP 4: 0.8203 Low Mar 7 2022 and a major support
EURGBP traded sharply higher last week and remains firm. The cross has cleared the December highs. This undermines the recent bearish theme and suggests scope for a stronger short-term recovery. Note too that 0.8376, the Nov 19 high and a key resistance, has also been cleared. Sights are on 0.8424, a Fibonacci retracement and the Jan 13 high. A break of this level would open 0.8448, the Oct 31 high. Support at the 50-day EMA is at 0.8318.
SCHATZ TECHS: (H5) Bearish Outlook
- RES 4: 107.065 High Jan 2
- RES 3: 106.965 High Jan 3
- RES 2: 106.873 20-day EMA
- RES 1: 106.650/785 High Jan 10 / 6
- PRICE: 106.535 @ 06:05 GMT Jan 14
- SUP 1: 106.460 Low Jan 13
- SUP 2: 106.375 Low Oct 31 (cont) and a key support
- SUP 3: 106.342 2.764 proj of the Dec 2 - 6 - 12 price swing
- SUP 4: 106.255 3.000 proj of the Dec 2 - 6 - 12 price swing
The current bear cycle in Schatz futures remains intact and recent weakness, including Monday's fresh cycle low, reinforces this theme. The move down confirms a resumption of the bear leg and sights are on 106.375 next, the Oct 31 ‘24 low (cont). Firm resistance is seen at 106.873, the 20-day EMA. Short-term gains would be considered corrective and allow an oversold condition to unwind.
