Silver (XAG / USD) recently rallied from just ahead of the September 21.64 low and rallied to the 24.69 downtrend, which is exposed. Above the downtrend, XAG / USD is targeting 28.93 and 29.89, according to Commerzbank. Key statements: “Silver (XAG / USD) appears to have established a bottom at 21.87 and the rally has […]
Tag: Banks
S&P 500 will skyrocket to 4,100 points by June 2021 following the deployment of a vaccine early next year
Despite the 14% rally in global stocks since early November, UBS economists believe that more hikes are coming as vaccines roll out. Key Comments: “Based on estimates of vaccine production, We expect both a relaxation of restrictions and a recovery in consumption in the service sector, such as traveling and eating out, in the first […]
S&P 500 Index: Closing Above Key Support at 3646/42 Keeps Short-Term Risks High
The S&P 500 Index reversed higher late on Friday to post a small potentially bullish “hammer” candle reversal pattern, which appears to be bolstered by today’s bullish price action, según Credit Suisse. Key statements The S&P 500 reversed higher at the end of the day on Friday, posting a small and potentially bullish hammer-shaped candlestick […]
The key support to watch out for is 1.2707 / 00 – Credit Suisse
USD / CAD recovered slightly on Friday, moving into a short-term consolidation around the lows of 1.2783 / October 29 and May 2018. Looking ahead, the Credit Suisse team of analysts is closely watching support key at 1.2707 / 00, whose break they estimate would cause a further fall. Key statements: “The USD / CAD […]
USD / BRL retracement targets June low of 4.8180 – Commerzbank
USD / BRL continues its decline, in view of the June low of 4.8180 and will remain under pressure as long as it remains below the September and November lows of 5.1976 / 5.2238, reports Axel Rudolph, senior technical analyst at Commerzbank. Key statements: “USD / BRL reached its October high at 5.8082 and continues […]
ECB paves the way to 1.25 – Nordea
According to analysts Nordea, he European Central Bank (ECB) has paved the way to reach the 1.25 levels en el by EUR / USD. “The ECB refrained from rattling the EUR’s bullish cage as the deposit rate cut remains a follow-up scenario for policy makers. The trade-weighted EUR has traded roughly sideways since August, which […]
Bearish as long as it continues below 104.75 / 77 – Credit Suisse
USD / JPY ideally remains capped by its 55-day average and recent highs of 104.75 / 77 with dominant risk heading lower, analysts at Credit Suisse explain. Key statements: “USD / JPY strength has been capped as expected before the top of its range and to the 55-day average at 104.75 / 77, which if […]
Attention is back on fundamental retracement resistance of 0.7111 – Credit Suisse
NZD / USD saw another strong reversal to the upside from the 13-day exponential average, negating the recently completed bearish “reversal day” to leave the market pressing again against the crucial resistance at 0.7111, Credit Suisse analysts explain. Key statements: “The NZD / USD has reversed sharply higher to press against the crucial 78.6% retracement […]
DXY to plummet to 86.8 by mid-2022 – Westpac
The downtrend of the US dollar has shown renewed vigor this month with the index of the US dollar index (DXY) breaking from last month’s 92.5-94.0 range to test 91.0, currently 90.8. Westpac economists have scaled up the USD downtrend from a further 2% to around 5%, as the effect of vaccines and the policy […]
S&P 500 needs to maintain support at 3650/44 in light of the euphoric state of the rally
The S&P 500 Index has failed to sustain its move to new highs, leaving in its place a small bearish “reversal day” and support at 3650/44 must not be lost to continue to hold immediate risk to the upside, según Credit Suisse. Key statements “With the market remaining in a ‘euphoric’ state (91% of the […]
