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.
US Dollar (DXY): a selling wave could hit in the short-term
2019-11-11 • Updated
US Dollar remains confined within a range established since March 28th session and looks forward for a clear trend in the short-term, as it stays directionless. A pullback at the current stage should validate the idea of a strong resistance being found in the Fibonacci level of 78.6% at 89.98. If that happens then DXY -which gauges the buck against a basket of major currencies- could resume the bearish bias and eventually it can plummet towards the March 27th lows at 88.53 as a first target.
RSI indicator is hovering in the negative 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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