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.
USD/CAD: bullish above 1.24
2019-11-11 • Updated
USD/CAD is finding dynamic resistance in the 200 SMA at H1 chart and it’s currently trading inside a decisive stage. According to the H1 chart, the pair has found resistance in the 1.2589 level and it’s on the way to remain supported by the 78.6% Fibonacci level at 1.2404. Loonie should break that zone in order to plummet towards the 1.2354 level. To the upside, if it manages to rebound at the current territory, the pair could scope the 1.2530 handle.
RSI indicator stays in the negative territory.
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