Ichimoku Kinko Hyo CNH/JPY: The CNH/JPY pair is trading above the Kumo…
Western Union: breaking the resistance
Information is not investment advice
Western Union reports its earnings on Wednesday, at 23:30 MT time, with the expected EPS of $0.42.
Here is the long-term picture. Western Union’s stock hasn’t recovered from the virus hit yet. While it enjoyed the highs of $28 a year ago, it is currently below $24 – that’s just halfway through the losses. However, it may be exactly the reason why it may be an excellent moment to open a position with this stock: with a fundamentally positive outlook, it will inevitably reach back to $28, in time.
In the mid-term, $24 is the nearest target for bulls. That’s where the stock is very likely to be if Western Union manages to outperform the expectations. Otherwise, it may drop to $22 before it gets up again for an upward trajectory. In any case, you'll be able to check which scenario it is in the FBS Trader!
This week, there are a few high-probability trade ideas I'd like to recommend to you. Trading these setups, be sure to implement a proper risk management approach.
On Thursday, the 2nd of February, the Bank of England will publish its report concerning interest rates and inflation data for the Eurozone. Professionals and investors anticipate that Andrew Bailey’s lead team of policy makers will likely raise interest rates to 4%; the highest in over a decade, for the tenth time in a row.
The first FOMC meeting comes after a buildup of anticipation from traders and investors alike, as the markets await what posture the Fed will take regarding the interest rates; would there be a hike or a cut in interest rates? Recall that the Federal Open Market Committee had previously ended the year 2022 with a 50bps hike, and an indication from Powell, the committee chairman, that the Fed could consider raising interest rates by 75bps in the course of the year 2023.