ONLINE FOREX BROKER
2022-12-20 • Updated
We've been talking a lot about the long-term downtrend of gold that's been the case since July 2020. Frequently, the price goes above and below that channel but then inevitably gets back into it. Since the end of 2020, that channel's upside has been mostly coinciding with the 100-MA. Now, gold is up there testing 100-MA below $1,800. Will it break the trend then?
First, even if it does, the trend may still stay valid just like it's been before: 80% of the time, the price was within the channel, but 20% still saw it deviate from the trend. Therefore, what we see now is just a possible breakout - whether it'll be a true trend change, only time will show: fo that, the changing configuration of the Moving Averages will serve as an indicator; so far, they're all aligned in a downward formation.
Second, gold may go as high as 200-MA at $1,850 just as it did twice previously. That all will not be an impediment for it to get back down into the channel: whatever the bullish breakaway is, it won't change the trend unless it goes beyond the resistance of the 200-MA at $1,850.
Lastly, observe an interesting thing: there is a double top at $1,955, and there is a double bottom at $1,680. The gold price failed to cross either. That suggests a possibility that in the coming months, it'll trade between the two revolving around the core channel of $1,800-1,850. Let's watch it!
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 Crypto market usually also has a rough time in September. Bitcoin lost 12.7% in September 2021, 17.4% in 2020, 17.5% in 2018, 21.4% in 2017 and 45.4% in 2015. The main cryptocurrency increased by 13.3% and 3.95% in 2016 and 2019, respectively.
US100 broke through the strong resistance trendline, following July's inflation numbers on Wednesday, which were less than analysts expected…
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?
Today, at 5:00 pm (GMT +2), the Bank of Canada will publish the Overnight Rate, which represents short-term interest rates, and is pivotal to the overall pricing of the Canadian Dollar in the global markets. Let's look at how the markets are faring ahead of the BoC rates release.
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.
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