Apple, Microsoft, and Google reported their financial results for the second quarter. Despite strong earnings, the companies closed in red yesterday. Why? What to do now?
Gold: bullish forecasts
Information is not investment advice
XAU/USD is eyeing $1 850. Will it be able to reach it?
Stimulus talks have resumed in the USA. US lawmakers proposed to unveil an aid of $908 billion. The combination of US stimulus hopes and negative real yields pushed the USD down and gold up. Elsewhere, Fed’s Powell held a meeting yesterday and gave quite dark comments about the current economic state. According to him, the recovery path is still uncertain, and the US economic activity is severely damaged. The widespread vaccinations are going to start soon if vaccines pass approval. However, the economy won’t quickly recover after it happens, it will need more time to rebound, and we will see some downbeat data for a while.
Gold has turned to the upside after touching the support of $1 770. It has broken through the 50-period moving average, so the way up to the 38.2% Fibonacci retracement level of $1 840 is clear now. It may meet some selling pressure near this level. However, if it manages to break through it, the way up to the 50% Fibo level of $1 865 will be clear. In the opposite scenario, if it drops below the intraday low of $1 810, it may fall to the key support of $1 800.
What will happen? Microsoft, the US IT company, will present its earnings report for the second quarter on July 27 after the stock market closes (23:00 GMT+3)…
What will happen? Tesla, the world's largest EV’s manufacturer, will present its earnings report for the second quarter on July 26 after the stock market closes (23:00 GMT+3)…
In our FOMC Meeting live coverage on YouTube yesterday, we sent out a short signal on USD/JPY around 25 minutes after the decision and right before the press conference.
The Federal Reserve decided to keep the current policy unchanged as widely expected, with no additional information about the timing of the tapering. In fact, in this meeting, the Fed mentioned tapering twice only.
Ichimoku Kinko Hyo USD/JPY: The USD/JPY pair is trading slightly below the cloud…