ONLINE FOREX BROKER
2020-12-16 • Updated
After reaching 1.2170 at the beginning of the week, EUR/USD corrected downwards and has been in a fluctuating consolidation below that level. Technically, 1.2170-1.2180 is the resistance channel that saw the currency pair come there a week ago. Before that, the last time EUR/USD was that high was in only December 2017 – February 2018. That means this resistance area is very strong and tactically important. It may send EUR/USD downwards to the support of 1.2060, but 1.21 would need to be crossed first. Even if EUR/USD eventually goes upwards to march at 1.22, this downward correction is possible just from a technical “fairness”. The likelihood of a downward scenario increases if Brexit turns out to be a no-deal. So watch Brexit, and watch EUR/USD against the resistance area 1.2170-1.2180 – a bounce off is very possible.
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.
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.
Last year was tough for the Japanese yen. USDJPY gained more than 30% over 2022, striking above 150 in October. While anticipation of slower Fed rate hikes pulled the pair below the 130 level at the start of 2023, the speculations over the destiny of BOJ’s yield control policy grabbed the attention of the Japanese assets in the middle of January. What lies ahead for traders of the Japanese yen?
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