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/CHF moving up within the triangle pattern
2019-11-11 • Updated
On the H4 chart of USD/CHF, we may see the following picture. Since the beginning of the last week, the USD has been dropping against the CHF, leaving the resistance level for the bulls at 0.9967. The support level of 0.9842, formed by the previous low, was not reached. But the price pinched through 0.9857 and bounced up from 0.9870, leaving it as the last support level. This altogether appears as a forming triangle pattern.
The RSI indicator has been following the same direction. If we see the last high of the USD/CHF, it corresponds with the same for RSI, which touched the overbought level of 70% a week ago and started dropping. It crossed the oversold level of 30% upside-down at the same time when the currency pair reached its low and started moving up.
The above gives us reasons to think that the price may be moving up to the next resistance of 0.99436, and then is likely to bounce back down.
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.
The energy industry has undergone several major changes in the XXI that are becoming increasingly apparent…
In the dynamic world of financial trading, understanding the nuanced relationship between the Federal Reserve's key interest rates and Bitcoin can be a game-changer…
As the US Non-Farm Payrolls (NFP) take center stage, this month's data gains special attention, particularly after the unemployment rate took a concerning turn in the previous month. The US ADP Employment Change reveals a significant decline, with the economy adding 298K new jobs...