With the South African rand at, or near, its lowest level against the major currencies for 40 years, there is now evidence that the ZAR is reversing direction, says Chris Williams at Newedge. As such, he recommending the buying of the rand and South African bonds this year.
Elliott Wave analysis of the S&P500 sets an ultimate target of 1923.44 for the S&P500 in this bull market, according to Walter Zimmermann of United-ICAP.
Technical analysis software provider Updata has just launched Updata Collect, a generic data engine that builds and databases price histories from spreadsheets, PDF and Word documents, emails and web pages.
US Treasurys are oversold following the crisis in Ukraine as the situation is likely to find a quick resolution, says Chris Williams at Newedge.
Although the selling of gold has repeatedly stalled around the $1200 level over the past 12 months, the break above 1319.50 should confirm a bullish outlook this week, says Max Knudsen of ADS Securities.
GBPUSD tested a key resistance level at 1.6747 last week but failed to break it, forming a bearish shooting star pattern in the process, says Andy Dodd at Louis Capital Markets. A break below 1.6618 could the pave the way to 1.6389.
The South African rand is oversold against the major currencies and due for a major correction throughout 2014, according to Chris Williams at Newedge.
Short-term changes in STIR strips are gaining interest across the sterling, dollar and euro futures. Finex present their technical and Market Profile based assessment of near-term moves.
Only a qualified break above 1850 will confirm that a downward correction for the S&P is complete, say BNP Paribas. If this break occurs, the index should then target 1950, although this level is itself a significant resistance point.
Market breadth measures, such as the NYSE Advanced/Decline Line, will be crucial in determining the ultimate direction of US stocks in the coming weeks should the index approach new highs, says Chris Senyek of Wolfe Research.