ONLINE FOREX BROKER
2020-08-28 • Updated
GBP/USD rose to the critical level of 1.33. It is critical because it is a strategic resistance opening the door into the channel of 1.33-1.34. This channel has been capping the upside of GBP/USD for the last 2 years. Since Summer 2018, the British pound has never been able to step over this mark against the US dollar. Now, it is the challenge time – again.
What is the likelihood of GBP/USD to get up beyond this resistance? It entirely depends on the USD here: the GBP taken alone is weak enough, being pressed by Brexit and likely to stay under this press until the end of the year when the outcomes of Brexit are clear. That’s why, the fact that GBP/USD went up is almost 100% a result of the weakness of the USD. That’s why, whether GBP/USD will cross this 2-year resistance gets answered by “Will the USD get even weaker?”. The latter is still to be confirmed but the probability is definitely there, given the recently announced Fed policy and the coming US Presidential elections. So watch this key resistance and make sure you have a plan if GBP/USD crosses it on the way upwards.
The S&P 500 had a good week due to the impressive start of Q1 earnings and favorable inflation data. In March, the consumer price index rose 5%, lower than the previous month's 6%, and met economists' expectations.
The previous year 2022, was undoubtedly tumultuous for the stock markets, with several stocks plummeting across multiple industries. Analysts have blamed the hard times on inflation, hawkish federal reserve policies, an impending global recession, and the ongoing crisis in Ukraine. This year, however, we're beginning to see some recovery in the stock markets. This article will find a few stocks worth buying this year.
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.
Let's dive into the world of gold. Currently, the price of gold, represented by XAUUSD, is stuck in indecision, hovering around the $1,975 mark. The market is anxiously awaiting two important factors: the release of the Federal Reserve's meeting minutes and the extension of the US debt ceiling.
Hey guys, this is the last full trading week in May, and many forward-looking individuals like myself are already preparing themselves to seize whatever opportunities June may have in store. On this note, I will review a few commodities that have satisfied my quest for swing-trading opportunities in the coming month. Follow me!
The Bank of England (BoE) has dramatically shifted its economic forecasts. They no longer expect a recession in the UK and have upgraded their growth projections. This year, the BoE predicts GDP growth of +0.25%, a significant improvement from previous expectations. Next year's forecast is even more optimistic, with a projected growth of 0.75%.
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