ONLINE FOREX BROKER
2021-01-20 • Updated
Have a look at the daily chart below. At the first sight, gold has been in a downtrend since summer 2020. However, since it dropped to 1 765, it never continued the downtrend in an equally distributed channel that's been there since July till November. Instead, while the resistance stayed at 1 960, the lows have not gone downwards so far. So, does it mean we are now at the bottom of the uptrend that will push the price back up to 1 960 and above? That's a possibility to be verified with time. Therefore, here are your tactical scenarios.
The price may reach local highs around 1 900 by the end of January, then it goes downwards below 1 800 again to possibly reach 1 765 again in the middle of February; after that, it may revert to the upside again. Eventually, it may come to 1 960 by the end of February.
The gold price is now right after a newly formed low; it will go upwards to test the resistance of 1 960 in the first days of February.
The video below may give you some more details on setting the levels and making price projections - watch it and use it to elaborate a sound strategy to trade gold!
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 Q4 earnings season has been interesting, mainly because of the turbulent global economic outlook. On this premise, analysts forecast a disappointing performance for several stocks ahead of the Q4 earnings report publishing.
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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