Market Update 21/09/2021
Since we last spoke about the most traded pair globally, we have seen it fall over 100 pips to testing the psychological support around the 1.1700 price level. Continuing the downward trend, we have seen since the beginning of the trading month. This is mainly due to US Dollar strength. The 1.1900 figure remains as our strong resistance. Our strong support level can be found around the 1.1660 - 1.1670 range which was last visited on the 19th – 20th of August, could we now possibly see a double bottom forming before the pair bounces back?
5 Hour Currency Heatmap
The 5-hour currency Heatmap illustrates the strength of the New Zealand Dollar and the Swiss Franc against all other major currencies. The Japanese Yen is showing the most weakness against the other pairs in the recent days.
After failing to break out to the upside from the range, Gold has once again fallen to test the support at the $1742 level twice, after failing to break lower the pair is steadily gaining ground moving back up towards the $1795 resistance. The key psychological level for Gold, is still around the $1800-$1795 area. The $1740 price level serves as our new short-term support. The key level of resistance continues to be at the $1832 level; a break of this may see gold rise in the longer term back to the previous highs. Will we see gold at $1900 in Q4?
*Source Investing.com Calculator
This downward trend in the volatility has finally been broken with the increase in the volatility of the precious metal towards the end of the last trading week. Can we now continue with this trend this trading week?
Stocks to Watch
Earnings: Below are the stocks to monitor for the rest of the week will announce their earnings.
|Tuesday, September 21, 2021||Stock||EPS Forecast||Revenue Forecast||Market Cap||Time|
|US||Aurora Cannabis (ACB)||-0.2194||46.99M||1.21B||After Market Close|
|UK||Dignity PLC (DTY)||--||--||371.71M||Before Market Open|
|US||FedEx (FDX)||4.94||21.9B||66.76B||After Market Close|
|Wednesday, September 22, 2021||Stock||EPS Forecast||Revenue Forecast||Market Cap||Time|
|US||Bed Bath&Beyond (BBBY)||0.5213||2.06B||2.45B||--|
|Thursday, September 23, 2021||Stock||EPS Forecast||Revenue Forecast||Market Cap||Time|
|US||Costco (COST)||3.56||61.4B||199.44B||After Market Close|
|US||Nike (NKE)||1.12||12.46B||244.19B||After Market Close|
|Friday, September 24, 2021||Stock||EPS Forecast||Revenue Forecast||Market Cap||Time|
Dividends: The following stocks will be paying dividends over this week.
|Thursday, September 23, 2021||Stock||Ex Div Date||Dividend||Type||Yield|
|UK||Brooks Macdonald (BRK)||23-Sep||63||12 Month Trailing||2.60%|
|UK||Hargreaves Lansdown (HRGV)||23-Sep||38.5||12 Month Trailing||2.70%|
|Friday, September 24, 2021||Stock||Ex Div Date||Dividend||Type||Yield|
|US||General Electric (GE)||24-Sep||0.08||Quarterly||0.32%|