ONLINE FOREX BROKER
2020-12-17 • Updated
You’ve probably been thinking “What’s happening to USD/CHF”, right? Well, trading at 0.88, this pair is at the six-year lows. The interesting thing is that during 2020, USD/CHF dropped from above 1.00 to this level – that’s the amplitude of this currency’s trade during all these years, and it went from the multiyear resistance to the multiyear support just in 12 months. Now, if it drops the same distance downwards in the next year, that will bring it to 0.78 – as low as ever in the last 20 years, with only 2011 being the only time when it plunged that deep.
How to trade that? Technically, there is little evidence to suggest that the trend will stop any soon. The only thing to note is that the last ten days present a nice equilateral downward channel – that may be useful if you want to do scalping and see the currency pair bounce from one side to another. Fundamentally, watch precisely 0.8800 – that’s a psychological level, a key threshold. If there is a spot where the downtrend may stop – or reverse – it probably will be there around 0.8800. Once and if you see the currency pair approach that level, look for reversal signs – bulls may take over. Otherwise, generally, a continuation of this downward trajectory is to be taken as a primary scenario.
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 Q4 earnings season has been interesting, mainly because of the turbulent global economic outlook. On this premise, analysts forecast a disappointing performance for several stocks ahead of the Q4 earnings report publishing.
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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