ONLINE FOREX BROKER
2020-12-22 • Updated
If there is a support to be found, that’s right here: in the channel 0.7000 – 0.7010. NZD/USD bounced from it not once during the last six weeks, every time going further into the upside. This logic suggests that what we are seeing now is a downswing that may touch 0.70 before launching the price back upwards again, going beyond 0.7160. Is that possible?
Hypothetically, yes. The last monthly candles are not the longest ones in the history of NZD/USD over the last 20 years. The fundamental layout has many factors in favor of the weakening of the US dollar – from the Fed’s low-interest-rate monetary policy line to the general loss of interest to the greenback among global investors. Therefore, the US dollar may indeed lose further ground allowing NZD/USD to make further gains in the upside. 0.75 would be the strategic resistance to look at, in the first place – who knows, very possibly, it will be reached in 2021 in a similar manner to the transition from 0.63 to 0.70 in 2015-2016. A stronger move upwards is rather unlikely, therefore, 0.75 seems a realistic upside scenario for the year 2021. Otherwise, 0.63 would be a ground for the performance of NZD/USD in the long-run.
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.
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?
Western countries are trying to find other options for oil and gas supplies after a 10th package of sanctions, which will put more pressure on Russian oil and decrease global oil supply. Italy, for example, is in talks with Libya.
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