Forecasts & Analysis
PNC Financial Shares Rise After Q1 Earnings Blow Past Estimates; Target Price $192
PNC shares rose about 3% on Friday after the financial services company reported better-than-expected earnings in the first quarter of this year and said its profit rose on significant provision recapture, reflecting improved macroeconomic expectations.
USD/JPY Weekly Price Forecast – US Dollar Pulls Back Toward Support
The US dollar has pulled back significantly during the course of the week to test the ¥109 level for support.
GBP/USD Weekly Price Forecast – Pound Continues to Find Support
The British pound rallied a bit during the week as we continue to test the 1.3750 level as support. There is a significant amount of support underneath as well.
GBP/JPY Weekly Price Forecast – British Pound Finds Support
The British pound broke down below the ¥150 level during the course of the week, but then turned around to form a bit of a hammer.
EUR/USD Weekly Price Forecast – The Euro Continues to Reach Towards the 1.20 Handle
The Euro rallied significantly during the course of the trading to reach towards the 1.20 handle again.
AUD/USD Weekly Price Forecast – Australian Dollar Explodes for the Week
The Australian dollar has exploded for the week, reaching to fill the previous, and now threatens the 0.78 handle.
Silver Price Daily Forecast – Test Of Major Resistance At $26.25 – $26.30
Silver settled above the resistance at $25.85 and tried to settle above the next resistance at $26.25 – $26.30.
Morgan Stanley Lifts UnitedHealth’s Target Price to $515, Says More Upside Later in The Year
Morgan Stanley raised their stock price forecast on UnitedHealth to $515 from $462 and said conservative guidance around utilization and acuity trends should pave the way for more upside later in the year.
U.S. Dollar Index (DX) Futures Technical Analysis – Be Careful Shorting into 91.555 – 91.100 Retracement Zone
The direction of the June U.S. Dollar Index on Friday is likely to be determined by trader reaction to 91.555.