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 could duplicate a bullish cycle
2019-11-11 • Updated
AUD/USD has been gaining momentum across the board and the price action is consolidating well above the 200 SMA at H1 chart. The bulls are looking for a breakout above the highs from May 11 in order to extend the bullish bias towards the Fibonacci extension at 100% in 0.7598, which should duplicate the cycle initiated on May 9th. However, a pullback should go to test the key support at 0.7491.
RSI indicator is hovering around the overbought territory.
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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