ONLINE FOREX BROKER
2019-12-10 • Updated
Since May 2018, when the price of AUD against the USD crossed the level of 0.7500, the long-term trend of the currency pair has been going downwards. The closer to the current moment, the more it has been confirming the decline: since June 2019, the 200-week, 100-week and 50-week Moving Averages are in the negative order, with 50-week MA being a resistance. Therefore, in the long-term, the price is likely to continue this direction unless there are strategic factors revealed that would change the setting. In any case, the price will have to struggle its way upwards in case the market reversal starts looming in the currency horizon. On the weekly chart, the resistance of 0.6900 would be a good checkpoint for that as it marks the previous high, and since the end of 2018, the price has never broken a previously reached distinctive high.
On the H4, AUD/USD is testing the support of the 50-period MA, which is at the level of 0.6815. In fact, it has been consolidating right above this level in a gradually decreasing magnitude of price action since the beginning of December. Now, if the price breaks this support on the way down, that will be a solid proof that the recent high area has completed forming and that the market is going to move down in a more decisive way. Awesome Oscillator has already crossed the zero line, which gives the same interpretation. Altogether, if there is no new incoming information altering the market setting, we are likely to observe another cascade down today and tomorrow.
In a call scheduled for January 25, 00:30 am GMT+2, Microsoft will publish the company's earnings for the final quarter of 2022 and comment on the results, projections, and outlook for the nearest future of the company.
In a call scheduled for January 25, 00:30 am GMT+2, the Tesla Inc. team will publish the company's earnings for the final quarter of 2022 and comment on the results, projections, and outlook for the nearest future of the company.
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.
On Thursday, the 2nd of February, the Bank of England will publish its report concerning interest rates and inflation data for the Eurozone. Professionals and investors anticipate that Andrew Bailey’s lead team of policy makers will likely raise interest rates to 4%; the highest in over a decade, for the tenth time in a row.
The first FOMC meeting comes after a buildup of anticipation from traders and investors alike, as the markets await what posture the Fed will take regarding the interest rates; would there be a hike or a cut in interest rates?
Western countries are trying to find other options for oil and gas supplies after a 10th package of sanctions, which will put more pressure on Russian oil and decrease global oil supply. Italy, for example, is in talks with Libya.
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