The Nasdaq Composite Index currently comprises 2,667 stocks listed on Nasdaq. After the very marked gains in large US companies and the strong start to the year 2021, the market has now seen the first profit taking. According to analysts at Commerzbank, it may take some time to eliminate the overbought situation in the medium […]
Tag: Banks
Euro poised to extend slide to 0.8609 – Credit Suisse
EUR / GBP has confirmed a large bearish shoulder-head-shoulder formation below 0.8861, turning the central trend to point south, for an eventual drop to 0.8609, reports the Credit Suisse team of analysts. Key statements: “EUR / GBP maintains its large“ shoulder-head-shoulder ”below medium-term support at 0.8871 / 61, where there are a series of lows […]
A downside breakout of 1.20 is not ruled out – UOB
The currency strategists of UOB Group They don’t rule out EUR / USD falling back below the .20 mark in the coming weeks. 24 hour perspective: “We highlighted yesterday that there was room for the EUR to fall below 1.2050. We added, that a sustained decline below this level seemed unlikely for now and the […]
NZD / USD will fall towards 0.70 in Q1 2021 – DBS Bank
The NZD / USD fell to 0.7158 on Monday, down from 0.7184 (2020 closing level). The kiwi loses ground for the fourth session in a row. Economists at DBS bank expect the kiwi to slide towards the 0.7000 level in the coming months. Key statements: “Technically, the NZD / USD has been slowed at 0.72, […]
The uptrend remains strong – UOB
The currency strategists of UOB Group noted that the USD / JPY bullish momentum has improved in the last sessions. 24 hour perspective: “Yesterday we highlighted that overbought conditions suggested that greater USD strength is unlikely. We added that the dollar was more likely to consolidate and trade between 104.40 and 105.00. Subsequently, the USD […]
Increase bets for a move below 1.2050 – UOB
The currency strategists of UOB Group noted that the EUR / USD could pull back even more and go back to visit the neighborhood of 1,2000 In the next weeks. 24 hour perspective: “We expected the EUR to retest the 1.2090 level yesterday and held the view that significant support at 1.2050 was not expected […]
GBP / USD still seen between 1.3580 and 1.3760 – UOB
It is expected that the pound keep the range of 1.3580-1.3760 unchanged for the time being, as noted by the currency strategists of UOB Group. 24 hour perspective: “The pound traded yesterday between 1.3656 and 1.3758, relatively close to our expected lateral trading range of 1.3650 / 1.3750. The underlying tone has weakened and the […]
XAG / USD targeting 31.71 – Commerzbank
Silver has definitely resumed its upward movement as the massive rally pushed XAG / USD to new seven-year highs, highlights Karen Jones, head of the FICC technical analysis research team at Commerzbank. He is now targeting the 31.7150 level. Key statements: “Silver has recovered from levels just below 25.00 to 30.00 in four trading days.” […]
GBP / USD likely to hit 1.40 if Bank of England rules out rate cuts – MUFG
A strong dollar slowed GBP / USD’s advance above 1.3700 last week, say analysts at MUFG Banks. They estimate that the new policy statement from the Bank of England (BoE) will be key in determining whether the recent bullish trend in the British pound extends further in the short term. Key statements: “Market participants have […]
GBP / USD: The bias remains sloping to the downside
In the opinion of UOB Group currency strategists, the pair GBP / USD faces potential losses in the coming weeks. Key Comments: 24 hour view: “Last Friday, GBP / USD fell to 1.3657, rose again to 1.3750 before declining to close at 1.3693 (-0.23% on the day). The price action has resulted in a mixed […]
