We have outlooked several promising Forex pairs and the result can surprise you!
New Trend in Tech Stocks?
Information is not investment advice
When Twitter Inc. and Snap Inc. posted quarterly revenue that blew past analysts’ expectations, the results bumped up the shares of the two of their larger rivals: Facebook Inc. and Alphabet Inc.
While Facebook and Google parent Alphabet doesn’t report their numbers until next week, the tech giants are also in the digital advertising business, and the reports from Twitter and Snap answered some lingering investor questions. The pandemic, which caused businesses to sell more of their products online, has started to subside in some parts of the world, but it turns out advertisers are still increasing their budgets.
The momentum burst that we saw over the past few days after the quick dip at the beginning of this week is also considered as an early sign of a breakout including Facebook, SNAP, Twitter, and Google.
With that being said, it looks like the correction in tech stock is over and earnings may prove such an outlook.
Twitter showing some promising pattern here, with a possible inverted head and shoulders formation on the daily chart, while the neckline is now trading around 70.50 which might get tested in today’s session. A weekly close above the neckline would be a clear signal to start building a position gradually with every dip, with an initial target of 73.
A United Nations agency is warning that the central bank’s actions create a high risk of pushing the global economy into recession.
Inflation in New Zealand is the highest since 1990, edging to 7.3% in Q2 2022. The currency is under heavy pressure as the Reserve Bank of New Zealand is trying to reverse the inflationary spiral. The week ahead will give us a valuable clue about the country’s monetary policy, and we are here to talk about that.
In the middle of September 2022, the Canadian dollar has fallen to a 2-year low against the USD.