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.
The United States jobless claims will be released
2020-08-20 • Updated
Ichimoku Kinko Hyo
EUR/JPY: The EUR/JPY pair is now testing the Tenkan Sen support level. If the pair break below this level, the next support is the Kijun Sen level. Further drop of EUR/JPY will continue its bearish sentiment.
European Market View
The European Central Bank minutes will cover the relatively uneventful meeting in July 2020. Also, today the United States jobless claims will be released.
The Turkish Central Bank will release the official rate, which is expected to remain unchanged. Other measures might be imposed to tighten liquidity.
European Key Point
- The United States jobless claims will be released.
- The Turkish Central Bank will release the official rate.
When I started trading stocks a few years ago, I often needed to pay more attention to my technical analysis skills and trust that the market would play fair according to my analysis. I have since discovered that the safer approach to trading stocks is to, more often than not, seek out investing opportunities - that is, catching stock commodities with a potential to rise.
The S&P 500 had a good week due to the impressive start of Q1 earnings and favorable inflation data. In March, the consumer price index rose 5%, lower than the previous month's 6%, and met economists' expectations.
On Friday, the gold price (XAUUSD) retreated from a recent two-week high, facing selling pressure. This decline was driven by hawkish minutes from the FOMC meeting, indicating the Fed's reluctance to cut interest rates. Elevated US Treasury bond yields, supported by a "higher-for-longer" narrative, further weakened demand for gold...
Bearish Scenario: Selling below 22.65 with TP1: 22.34 (intraday) and TP2: 22.02 (swing). Bullish Scenario: Buying above 22.70 with TP1: 22.90.
Intraday and swing scenarios based on price action and volume profile.