
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.
2022-04-14 • Updated
On the daily chart, we see gold behaving in a very strange way. In December-January, when the US-China trade agreement was announced to be sealed and was finally signed, it was rising (what?). When the virus struck and went “wild” in January-February, gold barely moved a finger (again, what?). That’s not an exaggeration because the famous local high of $1,700 seems to be quite naturally on the way of the upward-marching metal since November (that I see). Therefore, the virus doesn’t seem to introduce any additional velocity for the gold price to move up quicker. More to that, it dropped to $1,450 per ounce. In defiance of all the “laws of safe havens”, it went down. But now, it is back up. The question is, to where?
The trend marked on the chart clearly serves as “convertible” support: currently, the price is testing it as resistance. But even if it does cross it upwards, what will that mean? It will merely get into the trajectory of indifference which has been there since winter. But as it serves as resistance now, it still needs to be passed, and given the odd way gold behaves, it isn’t very likely to happen soon. Rather, gold seems to go into sideways mood along with the current level of $1,626, possibly even going down again. In the end, its’ leap from the ranges of $1,450 to $1,626 was really straight and steep, it will probably retrace now.
How to interpret gold’s behavior? Unlike going fundamental with stocks, I suggest going technical with gold. The reality is that there are apparently so many factors overlapping and overwhelming the gold market that its behavior becomes almost completely sporadic and unpredictable, like a permanent shock. Probably, using oscillators and trend markers will be more helpful as fundamentals seem to affect it like hollow-point bullets: enters at one trajectory, exits somewhere else. Anyways, not to worry, $1,700 per ounce will be there eventually, and it is not too far away.
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.
This week, there are a few high-probability trade ideas I'd like to recommend to you. Trading these setups, be sure to implement a proper risk management approach.
On Thursday, the 2nd of February, the Bank of England will publish its report concerning interest rates and inflation data for the Eurozone. Professionals and investors anticipate that Andrew Bailey’s lead team of policy makers will likely raise interest rates to 4%; the highest in over a decade, for the tenth time in a row.
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?
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