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.
Risk-on momentum remains strong
2021-01-20 • Updated
Ichimoku Kinko Hyo
USD/JPY: The pair is trading below the cloud. A downward pressure would lead the pair to exit further the cloud, confirming a bearish outlook.
XAG/USD: Silver bulls return and send price at the 38.2% retracement area.
EU Market View
Asian equity markets were mostly positive as the region partially sustained the momentum from the tech-led gains on Wall Street. Looking ahead, Asian shares climbed to a record high on Wednesday after US Treasury Secretary nominee Janet Yellen advocated for a hefty fiscal relief package to help the world's largest economy ride out a pandemic-driven slump. US President Donald Trump, in a farewell address released on Tuesday, touted his legacy, and wished luck to the new administration even though he steered clear of acknowledging his successor by name.
Highlights from macroeconomic calendar include UK, Eurozone, Canadian inflation, BoC rate decision and press conference, US Inauguration Day, BoE's Bailey speeches.
EU Key Point
- Dollar nerves starting to be more evident as the session gets underway.
- Germany discovers new coronavirus variant in 35 hospital patients.
- Germany reports 15 974 new coronavirus cases, 1 148 deaths in latest update today.
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.
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.
Intraday and swing scenarios based on price action and volume profile.
Brent oil is currently on a bullish trend, facing resistance near $84 and supported by the 200-day EMA. Breaking above this level could lead to a climb towards $90. Short-term support is observed around $80, backed by the 50-day EMA. As summer approaches and travel increases, crude oil tends to benefit from seasonal patterns. Despite temporary setbacks, buying...
Last week I gave a trade idea on XAUUSD with a target around the $2,020 price line. At the time of writing, XAUUSD already exceeded the target and I’m sure that would leave a lot of people wondering what to expect next. Below, I have presented my view of how I expect the price action to turn out in the meantime.