Forecasts & Analysis

Covid vaccine developer Inovio Pharmaceuticals sold off near 30% Monday after the biotech company said the FDA had put its late-stage trials on hold.

Crude oil prices drifted lower at most part of Asia’s trading session on Tuesday.

The minor trend is down. A trade through $42.02 will change the minor trend to up. This will reaffirm the shift in momentum.

GBP/USD failed to settle above the 20 EMA and pulled back closer to 1.2850.

PepsiCo Inc’s third quarter is expected to be a positive catalyst for the stock with an expected organic topline and EPS beat, according to Morgan Stanley equity analyst Dara Mohsenian, who also forecasts Q3 EPS of $1.50 and 2.4% y-o-y growth in organic sales.

The early upside momentum suggests investors are going to make a run at 11539.00, followed closely by the short-term 50% level at 11550.75.

The early price action on Tuesday indicates that investors are going to try to take out the minor Fibonacci level at 27547 on their way to 27729.

The first target is the 50% level at 3387.25. Since the trend is down, sellers are likely to come in on the first test of this level.

EOSEOS fell by 1.13% on Monday. Reversing a 0.88% gain from Sunday, EOS ended the day at $2.5612.It was a mixed start to the day. EOS rose to a midday intraday high $2.6390 before hitting reverse.The early rally saw EOS break through the first major resistance level at $2.6184. Coming

It’s a busier day ahead on the economic calendar. Member state inflation figures and U.S consumer confidence will influence the majors.