We have outlooked several promising Forex pairs and the result can surprise you!
EUR/AUD wants down
Information is not investment advice
Have a look at the chart of EUR/AUD. There’s a bearish divergence between the price and the Awesome Oscillator on D1. The pair tested levels above the 50% Fibo of the 2008-2012 decline but then returned lower. In addition, yesterday the pair formed a bearish pin bar (a candlestick with a long upper wick). These are solid reasons to expect a correction to the downside. The European manufacturing/services PMI released today may trigger the move.
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.