We have outlooked several promising Forex pairs and the result can surprise you!
EUR/USD pushed up from support
Information is not investment advice
The ECB cut the deposit rate yesterday and announced a new round of QE. Still, the euro has managed to recover from the news pretty quickly. EUR/USD spiked down to the September low in the 1.0930 but failed to stay there and closed around 1.1060 on Thursday. This kind of bottom means that if the pair overcomes the current resistance at 1.1090 (200-period MA on H4), the advance to 1.1130 (50-day MA) and potentially 1.1180 (100-day MA) will be triggered. Selling will become an option once again if the pair returns below 1.1020.
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.