SCHATZ TECHS: (H5) Bull Cycle Intact
* RES 4: 107.081 61.8% retracement of the Dec 2 '24 - Jan 15 bear leg * RES 3: 107.045 High Feb 3 an...
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EUROSTOXX50 TECHS: (H5) Pullback Considered Corrective
- RES 4: 5335.43 1.618 proj of the Nov 21 - Dec 9 - 20 price swing
- RES 3: 5327.90 1.764 proj of the Dec 20 - Jan 8 - 13 price swing
- RES 2: 5298.50 1.500 proj of the Nov 21 - Dec 9 - 20 price swing
- RES 1: 5276.00 High Jan 24
- PRICE: 5178.00 @ 06:33 GMT Jan 27
- SUP 1: 5144.00 Low Jan 27
- SUP 2: 5097.39 20-day EMA
- SUP 3: 5020.77 50-day EMA
- SUP 4: 4931.00 Low Jan 13 and a key short-term support
A bull cycle in the Eurostoxx 50 futures contract remains intact and the move lower from last Friday’s high, is considered corrective. A deeper retracement would allow an overbought trend condition to unwind. Moving average studies remain in a bull-mode set-up highlighting a dominant uptrend. The first important support to watch is 5097.39, the 20-day EMA. A resumption of the uptrend would open 5298.50, a Fibonacci projection.
LOOK AHEAD: UK Timeline of Key Events (Times GMT)
| Date | UK | Period | Event |
| 29-Jan | 1415 | BOE's Bailey at Treasury Select Committee | |
| 30-Jan | 0930 | Dec | BOE M4/ Lending to Individuals |
| 03-Feb | 0930 | Jan | S&P Global Manufacturing PMI (Final) |
| 05-Feb | 0930 | Jan | S&P Global Services/ Composite PMI (Final) |
| 06-Feb | 0930 | Jan | S&P Global/CIPS Construction PMI |
| 06-Feb | 1200 | Bank Of England Interest Rate | |
| 06-Feb | 1230 | BOE MPR press conference | |
| 06-Feb | 1400 | Jan | Decision Maker Panel data |
| 07-Feb | 1215 | BOE's Pill at National MPC Agency briefing | |
| 11-Feb | 0001 | Jan | BRC-KPMG Shop Sales Monitor |
| 13-Feb | 0700 | Dec | GDP/ Trade/ Services/ Production/ Construction |
| 13-Feb | 0700 | Q4 | GDP First Estimate |
| 18-Feb | 0700 | Dec/Jan | Labour Market Survey |
| 19-Feb | 0001 | Jan | Brightmine pay deals for whole economy |
| 19-Feb | 0700 | Jan | Consumer inflation report |
| 19-Feb | 0700 | Jan | Producer Prices |
EURGBP TECHS: Pierces The 20-Day EMA
- RES 4: 0.8545 High Aug 21
- RES 3: 0.8530 76.4% retracement of the Aug 8 - Dec 19 downleg
- RES 2: 0.8494 High Aug 26 ‘24
- RES 1: 0.8474 High Jan 20 and the bull trigger
- PRICE: 0.8386 @ 06:19 GMT Jan 28
- SUP 1: 0.8387/80 20-day EMA / Intraday low
- SUP 2: 0.8356 50-day EMA
- SUP 3: 0.8284 Low Jan 8
- SUP 4: 0.8263 Low Dec 31
A bull cycle in EURGBP remains intact and the latest pullback is considered corrective. Moving average studies are in a bull-mode position, highlighting a dominant short-term uptrend. Support levels to watch are; 0.8387, the 20-day EMA (pierced), and 0.8356, the 50-day EMA. A clear breach of this support zone would highlight a stronger reversal. The bull trigger is 0.8474, the Jan 20 high. A move through this level would resume the uptrend.
