We have outlooked several promising Forex pairs and the result can surprise you!
EUR/CHF: don’t trust the euro
Information is not investment advice
The upside of EUR/CHF has so far been limited by 1.0975 (the 50-day MA and the 50% Fibonacci retracement of the December decline). On Monday, the pair slipped below 1.0940 (the 100-day MA) resuming the decline that started last week. On the H4, moving averages got in position that is typical for a downtrend. The retest of the resistance in the 1.0940/46 area may thus represent an opportunity to enter a short position targeting the lows in the 1.0920 area and the support line just below 1.0900.
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.