We have outlooked several promising Forex pairs and the result can surprise you!
EUR/AUD remained in an uptrend
Information is not investment advice
EUR/AUD formed a “bullish engulfing pattern” on W1. Notice that this happened at the support line from the 2017 lows. This means that the uptrend is still in place and the pair has a decent chance to go for higher levels, at least May highs in the 1.6250 area. Still, to be safe we would consider entering bullish positions if the pair rises above 1.6150 (50-day MA). The outlook will remain positive until EUR/AUD trades above 0.6035 (weekly pivot).
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.