
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.
2019-11-11 • Updated
How often do you check the weekly and monthly charts? Do you do this for many currency pairs? Whatever you are doing, you can certainly do more! Let’s have a look at some interesting long-term charts. There may be good signals there.
EUR/USD
August candlestick opened at 1.1690. A monthly close near this level will mean a formation of a “Fakey” pattern – an inside bar + a false break to the downside. The pattern may imply a recovery to 1.20.
USD/CHF
EUR/USD and USD/CHF tend to move in the opposite directions. Is there a double top on the weekly chart? Weekly moving averages have already given in. Support is at 0.9730 (Fibonaccci and 50-month MA). A decline below this level will open the way down to 0.9620.
USD/CAD
There’s a bearish “Harami” pattern on the monthly chart. If we get a confirmation in form of the negative August candlestick (monthly close below 1.30), further decline will be likely. The targeted support level will lie in the 1.2550 area.
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.
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