EURUSD has been lacking direction in recent weeks, unable to muster a convincing rally or a convincing break lower, according to Tony Sycamore, Market Analyst for City Index. He says, however, there are some possible clues as to a future direction.
There are signs that the US dollar will continue to strengthen against emerging market currencies, according to David Sneddon and his team at Credit Suisse in London.
There are early signs of fading bullish interest in US equities, especially for the S&P, according to Sejul Gokal, Chief Technical Strategist at GO-TechniKAL Insight.
Equity market momentum is eroding, according to George Davis, Chief Technical Strategist at RBC Capital Markets.
Crude has broken through a key resistance levels and is looking bullish, according to Andy Dodd, Head of Technical Research at Louis Capital Markets.
The bull trend in emerging market equities looks set to resume, according to David Sneddon and his team at Credit Suisse in London.
Most volume analysis is confirming the S&P 500’s bullish trend except for one bearish signal which has been triggered for the first time since 2007, according to Buff Dormeier, Chief Technical Analyst at Kingsview Investment Management.
The Euro STOXX Banks index will likely outperform the broader European market and target the “pandemic price gap” at 96.80/98.44, according to David Sneddon and his team at Credit Suisse in London.
Bitcoin will stay bullish provided it remains above key support at $55,000, says Tony Sycamore, Director of Australia-based TECHFX TRADERS.
The recent bearish breakout in EUR/USD has added further fuel to its corrective phase, according to George Davis, Chief Technical Strategist at RBC Capital Markets.