Quarterly Outlook
Equity outlook: The high cost of global fragmentation for US portfolios
Charu Chanana
Chief Investment Strategist
Access both platforms from your single Saxo account.
Technical Update - EURUSD and GBPUSD: Correction time, but how much before resuming downtrend?
Kim Cramer Larsson
Technical Analyst, Saxo Bank Group
EURUSD and GBPUSD are experiencing rebounds after a significant sell-off.
EURUSD could rebound up to 1.0710, while the rebound in GBPUSD might continue to 1.2525 and possibly even higher.
However, the overall trends for both currencies remain bearish, and selling pressure is expected to resume once the rebounds are complete.
The sell-off in EURUSD broke through the support level at around 1.0660 and reached the 1.764 projection at 1.06. A rebound has since occurred, which is likely to extend to the 0.382 retracement at 1.0710.
The RSI is showing negative sentiment without any divergence, suggesting that EURUSD is likely to trade lower following a correction.
This correction could continue up to the 0.618 retracement at 1.0777, a scenario that might unfold if the RSI closes above its falling trendline. If RSI is being rejected at the falling trendline, the downtrend is likely to resume, with downside potential to the 1.0550-1.05 level
GBPUSD is currently rebounding from the strong support level at around 1.2410, with potential to rise further to the 0.382 retracement at 1.2525.
The strength indicator RSI is showing negative sentiment without divergence, suggesting that GBPUSD is likely to trade lower after this correction.
If the RSI closes above its falling (blue) trendline, the GBPUSD correction could extend to 1.2557, potentially reaching the 0.618 retracement at 1.2594. However, if the RSI is rejected at its falling trendline, the correction may end, and GBPUSD could resume its downtrend.
Should GBPUSD break below 1.2410, there is minor support at around 1.2375, with no strong support until around 1.2225.
Latest Market Insights
Quarterly Outlook
-
-
Quarterly Outlook
Commodity Outlook: Commodities rally despite global uncertainty
Ole Hansen
Head of Commodity Strategy
-
Quarterly Outlook
Upending the global order at blinding speed
John J. Hardy
Global Head of Macro Strategy
We are witnessing a once-in-a-lifetime shredding of the global order. As the new order takes shape, ... -
Quarterly Outlook
Asset allocation outlook: From Magnificent 7 to Magnificent 2,645—diversification matters, now more than ever
Jacob Falkencrone
Global Head of Investment Strategy
-
Quarterly Outlook
Macro outlook: Trump 2.0: Can the US have its cake and eat it, too?
John J. Hardy
Global Head of Macro Strategy
-
Quarterly Outlook
Equity Outlook: The ride just got rougher
Charu Chanana
Chief Investment Strategist
-
Quarterly Outlook
China Outlook: The choice between retaliation or de-escalation
Charu Chanana
Chief Investment Strategist
-
Quarterly Outlook
Commodity Outlook: A bumpy road ahead calls for diversification
Ole Hansen
Head of Commodity Strategy
-
Quarterly Outlook
FX outlook: Tariffs drive USD strength, until...?
John J. Hardy
Global Head of Macro Strategy
-
Quarterly Outlook
Fixed Income Outlook: Bonds Hit Reset. A New Equilibrium Emerges
Althea Spinozzi
Head of Fixed Income Strategy