The bullish trend we’ve seen in euro-sterling is likely to continue following positive data from the Eurozone last week. Support remains at £0.8626 and if we get further positive news later on this week, the euro could push through resistance at around the £0.8800 level. Cantor Index offers a spread of £0.8758-£0.8759.
The US non-farm payroll number was worse than expected and such a poor number is not ideal during this time of economic woe and simply confirms that the risk of a double-dip is real. The Dow could be over bought at these levels. Capital Spreads’ price for Wall Street is 10,970-10,972.
Further upside is tipped for oil and gas firm Heritage Oil. Its latest rally has been supported by very strong volume and it has also recently been upgraded by a number of brokers. If it manages to resolve its tax issue with the Ugandan government, expect a continuation of the recent rally. ETX Capital quotes 341.1p-341.4p for the rolling daily contract.