It is expected that the S&P 500 experience a longer consolidation and range trading phase with supports for a pullback seen at 3,887 / 84, and then more importantly on the 63-day average at 3839, as reported by Credit Suisse’s team of analysts. Featured statements “The S&P 500 rebound has stalled as suspected and our […]
Tag: Banks
XAG / USD targets further losses from break below $ 24.75 – Commerzbank
Silver (XAG / USD) is currently on the defensive and attention is on the 200-day moving average at $ 24.75 and the January low at $ 21.87, reports Karen Jones of Commerzbank. Key statements: “Silver has recently flopped at $ 26.69 and attention is on the 200-day moving average at $ 24.75. This is exposed […]
XAU / USD rallies are considered corrective while below $ 1765 – Commerzbank
Gold rebounds (XAU / USD) are seen as corrective, and it needs to regain levels above $ 1765 to ease downward pressure, according to Commerzbank analysis. Key statements: “The market is bouncing just before the June low of $ 1670 and the 2019-2021 uptrend at $ 1675. However, it is indicated that the rallies are […]
EUR / GBP set for deeper recovery once above 0.8641 – Credit Suisse
The EUR / GBP cross, experiencing a clear break above 0.8641, is expected to confirm a short-term bottom and a deeper recovery to the 55-day average at 0.8732 / 38, estimates the Credit Suisse team of analysts. Key statements: “A sustained move above last week’s high at 0.8641 should confirm a deeper recovery to 0.8659 […]
EUR / USD risks moving into the 1.1770 region – UOB
UOB Group currency strategists note that the EUR / USD has now gone into a negative phase and could test 1.1770 In the next weeks. Key Comments: 24 hour view: “The quick and sharp fall of the EUR / USD to a low of 1.1840 the day before was a surprise. While the rapid decline […]
Above 0.8641, the next resistance is at 0.8732 / 42 – Credit Suisse
EUR / GBP has once again held the key Fibonacci supports at 0.8549 / 20 and with an obvious divergence for the RSI momentum, a short-term base is now seen building, with a break above the resistance at 0.8641 needed to confirm that scenario, reports the Credit Suisse team of analysts. Key statements: Above last […]
GBP / USD remains focused on 1.3780 – UOB
In the opinion of UOB Group currency strategists, GBP / USD risks a deeper pullback breaks 1.3780 In the next weeks. Key Comments: 24 hour view: “Yesterday we held the view that there is room for the British pound to ‘test 1.3780 first before a recovery can be expected.’ Our expectation did not materialize as […]
EUR / USD still seen between 1.1840 and 1.2000 – UOB
UOB Group currency strategists suggest that the currency is still expected to EUR / USD trade within the 1.1840-1.2000 range In the next weeks. Key Comments: 24 hour view: “Our view that the ‘bias is lower EUR / USD’ was incorrect as it rallied to 1.1946 during the American session. While the bullish momentum hasn’t […]
EUR / JPY targets medium-term uptrend at 128.37 / 30 – Credit Suisse
EUR / JPY maintains a bearish “reversal day” and now also a short-term top, say Credit Suisse analysts. They expect further weakness, leading the euro to the medium-term uptrend line at 128.37 / 30. Key statements: “With a bearish divergence from the RSI timing, we look for this to open the door to a bearish […]
Bundesbank says economy is likely to contract sharply in first quarter
The German economy is likely to contract at a strong pace in the first quarter of the year due to coronavirus-related restrictions, Germany’s Bundesbank said in its monthly report on Monday, Reuters reports. “Measures to contain the pandemic are stricter on average in the current quarter than in the previous“, the Bundesbank explained.” Therefore, it […]
