Earnings season is a crucial time for investors and analysts, as it provides insights into how well companies have performed over the past quarter and gives indications of their future earnings. In 2023, expectations for US Q1 earnings were low due to economic challenges and rising interest rates. Surprisingly, many companies beat these low expectations, with 75% of S&P 500 companies surpassing forecasts.
NZD/USD: bears targeting below 0.7200
2019-11-11 • Updated
Kiwi has been strong inside a bearish trend started since days ago. Currently, it’s being capped by the 200 SMA at H1 chart, which acts as strong dynamic resistance between the 0.7271 and 0.7255 levels (65% - 50% Fibonacci retracement area) and we would like to see a NZD/USD weak towards 0.7176 as the first and main target to the downside, which is also a Fibo level (-23.6%).
RSI indicator remains at the positive territory, calling for limited upside moves, as it’s approaching the overbought territory.
When I started trading stocks a few years ago, I often needed to pay more attention to my technical analysis skills and trust that the market would play fair according to my analysis. I have since discovered that the safer approach to trading stocks is to, more often than not, seek out investing opportunities - that is, catching stock commodities with a potential to rise.
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