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 doing a short-lived correction
2019-11-11 • Updated
USD/CAD plummeted strongly on last Friday after positive data from Canada. Currently, the pair is trading off from its Friday’s lows and a corrective move is taking place across the board. The next target to the upside should be the 50% Fibonacci level at 1.2454, at which we can expect a strong resistance in order to resume the bearish bias towards the -23.6% Fibo zone at 1.2306.
RSI indicator is moving in the neutral 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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