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 holding above demand zone
2019-11-11 • Updated
AUD/USD has been trading above the 200 SMA at H1 chart and it made a rebound above the demand zone established by our Fibonacci retracement between the 0.7884 and 0.7860 levels. As that rebound has been holding across the board, we’re expecting a rally continuation towards -23.6% at 0.7998, which should strengthen the bullish bias for several days more.
To the downside, if Aussie makes a breakout below 0.7860, it’s expected to see a decline towards 0.7806, which should also invalidate the bullish scenario. RSI indicator remains in the negative 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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