ONLINE FOREX BROKER
2020-04-15 • Updated
While the battles between the USD and its European and Asian counterparts keep going, the currencies of the developing countries show little resistance to the US dollar. The Turkish lira is one of them.
Coronavirus and the oil price war changed little for the upward tendency of the USD/TRY. Currently, it trades at 6.83 where it tests the 16-month resistance. In the long term, the currency pair has all it takes to reach its all-time high at 7.05 and go further up.
If the dynamics of this currency pair performance keep their pace, the resistance of 6.83 will not take long to get broken. The Awesome Oscillator suggests that the upward movement has not reached its local peak yet, and is likely to continue in the same direction until it reaches the ranges of 6.90. At that level a bearish reversal may be expected. In this case, the support of 6.74 enhanced by the 50-MA will be there to check the downward movement. Additional support may be placed at 6.62 with reference to 100-MA, just in case of severe turbulence. The latter is unlikely, though, but it is better to be prepared for this kind of scenarios.
In a call scheduled for January 25, 00:30 am GMT+2, the Tesla Inc. team will publish the company's earnings for the final quarter of 2022 and comment on the results, projections, and outlook for the nearest future of the company.
The Netflix stock (NFLX), with a market cap of $145.17B and a whooping 10 000+% rise since its inception 16 years ago, experienced some turbulence for a short period last year while trading around the $250 share price. However, the NFLX stock quickly recovered and rose to over $300 towards the end of the previous quarter of 2022.
The Crypto market usually also has a rough time in September. Bitcoin lost 12.7% in September 2021, 17.4% in 2020, 17.5% in 2018, 21.4% in 2017 and 45.4% in 2015. The main cryptocurrency increased by 13.3% and 3.95% in 2016 and 2019, respectively.
Last year was tough for the Japanese yen. USDJPY gained more than 30% over 2022, striking above 150 in October. While anticipation of slower Fed rate hikes pulled the pair below the 130 level at the start of 2023, the speculations over the destiny of BOJ’s yield control policy grabbed the attention of the Japanese assets in the middle of January. What lies ahead for traders of the Japanese yen?
Today, at 5:00 pm (GMT +2), the Bank of Canada will publish the Overnight Rate, which represents short-term interest rates, and is pivotal to the overall pricing of the Canadian Dollar in the global markets. Let's look at how the markets are faring ahead of the BoC rates release.
In a call scheduled for January 25, 00:30 am GMT+2, Microsoft will publish the company's earnings for the final quarter of 2022 and comment on the results, projections, and outlook for the nearest future of the company.
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