CAPITAL GOODS: ABB (ABBNVX A2/A/NR): 1Q25 Results Headlines
"*ABB 1Q OPER EBITA $1.60B, EST. $1.46B" "*ABB PLANS TO SPIN OFF ROBOTICS UNIT AS SEPARATELY LISTED ...
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LOOK AHEAD: Eurozone Timeline of Key Events (Times GMT)
| Date | Time | Country | Event |
| 18-Mar | 1000 | EU | Trade Balance |
| 18-Mar | 1000 | DE | ZEW Current Expectations Index |
| 19-Mar | 1000 | EU | HICP (f) |
| 19-Mar | 1200 | EU | ECB's de Guindos at V Observatorio Finanzas |
| 19-Mar | 1300 | EU | ECB Elderson At European Financials Conference |
| 20-Mar | 700 | DE | PPI |
| 20-Mar | 800 | EU | ECB's Lagarde At ECON Hearing |
| 20-Mar | 1000 | EU | Construction Production |
| 20-Mar | 1200 | EU | ECB's Lane At UCC Economics Society's Conference |
| 21-Mar | 745 | FR | Manufacturing Sentiment |
| 21-Mar | 900 | EU | EZ Current Account |
| 21-Mar | 1500 | EU | Consumer Confidence Indicator (p) |
| 24-Mar | 815 | FR | S&P Global Flash PMI |
| 24-Mar | 830 | DE | S&P Global Flash PMI |
| 24-Mar | 900 | EU | S&P Global Flash PMI |
| 25-Mar | 800 | ES | PPI |
| 25-Mar | 900 | DE | IFO Business Climate Index |
| 25-Mar | 1400 | BE | BNB Business Confidence |
SCHATZ TECHS: (M5) Gains Considered Corrective
- RES 4: 107.120 High Mar 4 and key resistance
- RES 3: 106.905 High Mar 5
- RES 2: 106.847 61.8% retracement of the Mar 4 - 6 bear leg
- RES 1: 106.762 50.0% retracement of the Mar 4 - 6 bear leg
- PRICE: 106.660 @ 05:12 GMT Mar 18
- SUP 1: 106.530/405 Low Mar 10 / 6 and the bear trigger
- SUP 2: 106.350 2.000% retracement proj of the Feb 19 - Mar 4
- SUP 3: 106.259 2.236% retracement proj of the Feb 19 - Mar 4
- SUP 4: 106.203 2.382% retracement proj of the Feb 19 - Mar 4
A bearish condition in Schatz futures remains intact and price continues to trade closer to its recent lows. Recent weakness resulted in a breach of key support at 106.735, the Feb 19 low. The break of this level strengthens a bearish theme and signals scope for a deeper sell-off, towards 106.350 next, a Fibonacci retracement. The trend is oversold and the latest recovery is allowing this to unwind. First resistance is 106.762, a Fibonacci retracement.
GBPUSD TECHS: Fresh Cycle High
- RES 4: 1.3175 High Oct 4 2024
- RES 3: 1.3119 76.4% retracement of the Sep 26 ‘24 - Jan 13 bear leg
- RES 2: 1.3048 High Nov 6 ‘24
- RES 1: 1.2999 High Mar 17
- PRICE: 1.2976 @ 05:57 GMT Mar 18
- SUP 1: 1.2862 Low Mar 12
- SUP 2: 1.2798 20-day EMA
- SUP 3: 1.2669 50-day EMA and a short-term pivot support
- SUP 4: 1.2556 Low Feb 28
The trend outlook in GBPUSD remains bullish and Monday’s positive start to this week’s session reinforces current conditions. Moving average studies remain in a bull-mode position, highlighting a clear dominant uptrend. The pair has breached a Fibonacci retracement at 1.2924, 61.8% of the Sep 26 ‘24 - Jan 13 bear leg. The clear break of this price point opens 1.3048, the Nov 6 2024 high. Initial firm support is 1.2669, the 50-day EMA.
