Earnings season is a crucial time for investors and analysts, as it provides insights into how well companies have performed over the past quarter and gives indications of their future earnings. In 2023, expectations for US Q1 earnings were low due to economic challenges and rising interest rates. Surprisingly, many companies beat these low expectations, with 75% of S&P 500 companies surpassing forecasts.
Technical analysis for EUR/USD
2021-06-22 • Updated
EUR/USD found support at 1.1845 and is currently trading just below the 61.8% Fibonacci retracement of the March-May advance at 1.1920. Below 1.1845 support lies at 1.1820 (78.6% Fibo) and 1.1765 (88.6% Fibonacci, support line connecting 2020 and 2021 lows, 100-month MA).
The pattern on the h4 looks like an ‘Inverted Head and Shoulders’. A break above 1.1920 will open the way up to 1.1985. Alternatively, we need to see a decline below 1.1880 for selling with 1.1850 as a target.
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