LOOK AHEAD: UK Timeline of Events (Times GMT)
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BOBL TECHS: (H5) Short-Term Gains Appear Corrective
- RES 4: 118.258 61.8% retracement of the Dec 2 - Jan 14 bear leg
- RES 3: 117.980 High Feb 3 / 5 and a reversal trigger
- RES 2: 117.600 High Feb 13 and a key short-term resistance
- RES 1: 117.570 High Feb 25
- PRICE: 117.430 @ 06:02 GMT Feb 26
- SUP 1: 116.870 Low Feb 19 and a short-term bear trigger
- SUP 2: 116.700 Low Jan 30
- SUP 3: 116.550 Low Jan 24
- SUP 4: 116.280 Low Jan 14 / 15 and key support
A bear threat in Bobl futures remains present despite the latest recovery - a correction. The contract has traded above the 20-day EMA and attention is on key short-term resistance at 117.600, the Feb 13 high. Clearance of this level would undermine the bearish theme and signal scope for a stronger recovery. On the downside, the short-term bear trigger has been defined at 116.870, the Feb 19 low. A break would resume the bear cycle.
LOOK AHEAD: Eurozone Timeline of Key Events (GMT Times)
| Date | Time | Country | Event |
| 26-Feb | 700 | DE | GFK Consumer Climate |
| 26-Feb | 745 | FR | Consumer Sentiment |
| 26-Feb | 800 | ES | PPI |
| 26-Feb | EU | ECB's Lagarde & Cipollone in G20 FMs/ CB Governors meeting | |
| 27-Feb | 745 | FR | PPI |
| 27-Feb | 800 | ES | HICP (p) |
| 27-Feb | EU | M3 | |
| 27-Feb | 900 | IT | ISTAT Consumer/ Business Confidence |
| 27-Feb | 1000 | EU | Consumer Confidence, Industrial Sentiment |
| 27-Feb | 1230 | EU | Publication of MonPol Meeting Account |
| 28-Feb | 700 | DE | Import/Export Prices/ Retail Sales |
| 28-Feb | 745 | FR | HICP (p)/ Consumer Spending/ GDP |
| 28-Feb | 855 | DE | Unemployment |
| 28-Feb | 900 | DE | North Rhine Westphalia/ Bavaria CPI |
| 28-Feb | 900 | EU | ECB Consumer Expectations Survey |
| 28-Feb | 900 | DE | Baden Wuerttemberg CPI |
| 28-Feb | 1000 | IT | Flash Inflation |
| 28-Feb | 1300 | DE | HICP (p) |
EURUSD TECHS: Key Short-Term Resistance Remains Exposed
- RES 4: 1.0677 50.0% retracement of the Sep 25 ‘24 - Feb 3 bear leg
- RES 3: 1.0630 High Dec 6 ‘24
- RES 2: 1.0594 High Dec 9 ‘24
- RES 1: 1.0533 High Jan 27 and a reversal trigger
- PRICE: 1.0491 @ 06:11 GMT Feb 26
- SUP 1: 1.0440/01 50-day EMA / Low Feb 19
- SUP 2: 1.0373 Low Feb 13
- SUP 3: 1.0317 Low Feb 12
- SUP 4: 1.0280 Low Feb 10 and a key support
Short-term bullish conditions in EURUSD remain intact and price is trading at its recent highs. Attention is on resistance at 1.0533, the Jan 27 high and a reversal trigger. Clearance of this level would strengthen a bullish condition and pave the way for a climb towards 1.0630, the Dec 6 high. For bears, initial firm support to watch lies at 1.0401, the Feb 19 low. A breach of this support would signal a potential reversal threat.
