2019-11-11 • Updated
Credit Agricole
Bank’s analysts believe that any further strength in the EUR/USD exchange rate should take it into selling territory. A key resistance line, that has been touched several times since Donald Trump’s inauguration, lies at 1.0800. Any rally towards this level or above should offer an attractive opportunity to short the pair.
A release of Purchasing Manager surveys from financial information provider Markit on March 24 can offer this opportunity and push the euro towards 1.0800 area or higher. Commerzbank also highlighted this region having said that selling pressure might emerge at around 1.0829.
Lloyds Bank
The bank believes that euro can weaken in the near term. European political events will likely remain a key source of downside risk for the euro with French presidential and German parliamentary elections, concerns over the outlook of Greece’s economy and extension of the ECB’s QE program.
Nomura
Nomura economists expect the ECB to start communicating tapering of its QE program at September meeting. The combination of diminishing political risk premium and steps toward ECB policy normalization can lead to the EUR strengthening in the second half of the year.
Crude oil futures surged on Monday due to disruptions in Russian refining capacity caused by Ukrainian drone strikes and Moscow's decision to cut output to comply with OPEC+ targets. The West Texas Intermediate (WTI) contract for May settled at $81.95 a barrel, up $1.32, while the Brent contract for May settled at $86.57 a barrel, also up $1.32. Russia instructed...
Bearish scenario: Sales below 80.00 with TP1: 79.60... Anticipated bullish scenario: Intraday purchases above 80.70 with TP: 81.50...
Brent oil is currently on a bullish trend, facing resistance near $84 and supported by the 200-day EMA. Breaking above this level could lead to a climb towards $90. Short-term support is observed around $80, backed by the 50-day EMA. As summer approaches and travel increases, crude oil tends to benefit from seasonal patterns. Despite temporary setbacks, buying...
Jerome H. Powell, the Federal Reserve chair, stated that the central bank can afford to be patient in deciding when to cut interest rates, citing easing inflation and stable economic growth. Powell emphasized the Fed's independence from political influences, particularly relevant as the election season nears. The Fed had raised interest rates to 5.3 ...
Hello again my friends, it’s time for another episode of “What to Trade,” this time, for the month of April. As usual, I present to you some of my most anticipated trade ideas for the month of April, according to my technical analysis style. I therefore encourage you to do your due diligence, as always, and manage your risks appropriately.
Bearish scenario: Sell below 1.0820 / 1.0841... Bullish scenario: Buy above 1.0827...
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