Earnings season is a crucial time for investors and analysts, as it provides insights into how well companies have performed over the past quarter and gives indications of their future earnings. In 2023, expectations for US Q1 earnings were low due to economic challenges and rising interest rates. Surprisingly, many companies beat these low expectations, with 75% of S&P 500 companies surpassing forecasts.
AUD/USD broke resistance area
2019-11-11 • Updated
- AUD/USD broke resistance area
- Next buy target - 0.7880
AUD/USD continues to rise after the earlier breakout of the resistance area lying between the key resistance level 0.7720 (previous buy target) and the 38.2% Fibonacci correction of the downward corrective wave A from the middle of September. The breakout of this this resistance area accelerated the active impulse wave B. AUD/USD is expected to rise to the next buy target at the next resistance level 0.7880 (top of wave (b) from October).
When I started trading stocks a few years ago, I often needed to pay more attention to my technical analysis skills and trust that the market would play fair according to my analysis. I have since discovered that the safer approach to trading stocks is to, more often than not, seek out investing opportunities - that is, catching stock commodities with a potential to rise.
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