In the view of UOB Group currency strategists, the pound is expected to extend the recovery on a break above the 1.3810 level in the near term. 24 hour perspective: “Yesterday, we noted that the bullish momentum had not improved and we expected the GBP to trade between 1.3740 and 1.3810. Subsequently, the pound traded […]
Tag: Banks
EUR / USD faces stiff resistance at 1.2010 – UOB
The currency strategists of UOB Group noted that EUR / USD is expected to clear the next hurdle around 1.2010 in the coming weeks. 24 hour perspective: “We highlighted yesterday that while conditions were still overbought, risk remained to the upside. We added that any further advance in the euro was expected to meet solid […]
EUR / USD will target the March high at 1.2243 if it breaks the 1.1990 / 1.2014 zone – Commerzbank
The EUR/USD has reached the 1.1990 / 1.2014 pivot. A break above is needed to dissipate the downward pressure, according to Karen Jones, head of technical analysis research team at Commerzbank. EUR / USD will remain under pressure below 1.2014 “The EUR / USD has tested the most important pivot of 1.1990 / 1.2014. We […]
USD / JPY could fall back to the 108.00 zone – UOB
According to the currency strategists at UOB Group, USD / JPY is at risk of a possible move below 108.40 on the short-term horizon. Key Comments: 24 hour view: “Our expectations for USD / JPY to ‘weaken further’ did not materialize as it traded surprisingly calm between 108.74 and 109.09. Momentum to the downside has […]
EUR / USD now points to 1.2010 – UOB
The currency strategists of UOB Group suggest that the EUR / USD could generate more gains if it breaks above the 1.2010 zone in the coming weeks. 24 hour perspective: “We expected the EUR to strengthen yesterday, but noted that overbought conditions suggested a sustained rise above 1.1985 was unlikely. Our view was not wrong […]
Above $ 26.69, with upside potential – Commerzbank
Silver (XAG / USD) is approaching the 55-day moving average at $ 26.25, but the metal will need to rebound to the $ 26.69 level to reassert upward pressure, suggests Karen Jones, FICC Technical Analysis Research Team Leader at Commerzbank. Key statements: “The price of silver recently fell and rebounded just before the December 9 […]
XAU / USD set to retest key support at $ 1682 – Credit Suisse
Gold’s rally (XAU / USD) has been capped at $ 1,755 / 65 for now, keeping the dominant downward bias, according to the Credit Suisse team of analysts. Key statements: “The strength of gold has been limited, at least for now, below resistance at $ 1755/65 and as long as it is below here, the […]
Loss of critical support at 108.55 / 53 would intensify weakness – Credit Suisse
The USD / JPY broke support from the 23.6% retracement of the first quarter rally at 108.99, which sees it exposing more important support at 108.55 / 33, which if it yields, would point to a highs being set, say the economists of Credit Suisse. Key statements: “USD / JPY weakness has extended further for […]
EUR / CHF to approach 1.11 by the end of the year – Rabobank
Jane Foley, Senior Currency Strategist at Rabobank, expects EUR / CHF to advance towards 1.11 by the end of this year. However, he warns that the pair is likely to fall to the 1.10 level this quarter. Key statements: “The sensitivity of the CHF to safe haven flows means that it is likely that continue […]
EUR / USD now faces a big hurdle at 1.2010 – UOB
UOB Group currency strategists see that EUR / USD bullish momentum will increase in the coming weeks. Key Comments: 24 hour view: “We highlighted yesterday that ‘bullish momentum has improved slightly, but although EUR / USD could continue to advance, a clear break of the main resistance at 1.1945 is unlikely.’ We added, ‘a break […]
