ONLINE FOREX BROKER
2020-12-21 • Updated
The year 2020 started with the EUR/USD touching the bottom of 1.08 as it was making the way for the downtrend through the entire 2019. After a fierce shock easily visible as heavy fluctuation in February-March, the pair reversed and started actively marching upwards. Eventually, the EUR appreciated against the USD as high as 1.20 by December, coming closer even to 1.22. By climbing this high, EUR/USD recovered all the losses of 2019 and came to the heights of January-April 2018.
On the monthly chart, breaking through 1.22 would challenge the decade-long downtrend EUR/USD has been in so far. However, technically, only beating 1.24 would confirm the possibility of this strategic reversal – that’s what may happen in 2021 if bulls keep pressing the EUR against the USD. Fundamentally, there needs to be a persistent weakness of the USD to allow that. Are there factors for the USD’s weakness? There are. The US Fed keeping the interest rates low and possibly maintaining quantitative easing line to keep the US economy marching, the general setting of the American global economic presence gradually giving room to the alternative global powers, and other tectonic movements. Will they be enough to push EUR/USD to 1.24? Very possibly.
This currency pair has spent most of the year 2020 oscillating between 0.89 and 0.91. There were a couple of spikes up to 0.93 but that was more of an exception – and every such spike was followed by a correction down to the same 0.89.
On a monthly chart, coming to the heights of 0.90 roughly completes the five-year-long recovery of EUR/GBP symmetrical to the descent to 0.70 it did during the years 2010-2015. If that assessment is correct, going to 0.93 and above is very likely for this pair in the coming year. Fundamentally, there may be ground for that: the British pound has hardly more factors on its side against those on the euros. The first quarter of 2021 will bring more clarity on that.
After a shockwave in January-February 2020, USD/JPY went into a downward trajectory that stretches from 110.00 to 103.00. Visibly, there is little technical evidence to suggest that this trend would see much change in the future.
From a strategic point of view, coming down from 110.00 to 100.00 is an organic continuation of the large downslope that started above 120.00 in 2015. In the meantime, the area around 100.00 has been providing support to the currency pair movement since before 2015 and after that year. Currently, USD/JPY is exactly at this support so beware: technically, a bounce upwards is very possible in the coming year.
The S&P 500 had a good week due to the impressive start of Q1 earnings and favorable inflation data. In March, the consumer price index rose 5%, lower than the previous month's 6%, and met economists' expectations.
The previous year 2022, was undoubtedly tumultuous for the stock markets, with several stocks plummeting across multiple industries. Analysts have blamed the hard times on inflation, hawkish federal reserve policies, an impending global recession, and the ongoing crisis in Ukraine. This year, however, we're beginning to see some recovery in the stock markets. This article will find a few stocks worth buying this year.
The Netflix stock (NFLX), with a market cap of $145.17B and a whooping 10 000+% rise since its inception 16 years ago, experienced some turbulence for a short period last year while trading around the $250 share price. However, the NFLX stock quickly recovered and rose to over $300 towards the end of the previous quarter of 2022.
Let's dive into the world of gold. Currently, the price of gold, represented by XAUUSD, is stuck in indecision, hovering around the $1,975 mark. The market is anxiously awaiting two important factors: the release of the Federal Reserve's meeting minutes and the extension of the US debt ceiling.
Hey guys, this is the last full trading week in May, and many forward-looking individuals like myself are already preparing themselves to seize whatever opportunities June may have in store. On this note, I will review a few commodities that have satisfied my quest for swing-trading opportunities in the coming month. Follow me!
The Bank of England (BoE) has dramatically shifted its economic forecasts. They no longer expect a recession in the UK and have upgraded their growth projections. This year, the BoE predicts GDP growth of +0.25%, a significant improvement from previous expectations. Next year's forecast is even more optimistic, with a projected growth of 0.75%.
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