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The EUR has been on a run since it bottomed in September 2022. From that time, the price is up almost 15% and is currently trading at 1.0863. However, with important economic data to come out of the USA and the next interest rate decision from both the ECB and the Federal Reserve coming out in the next few days the market may find some more direction for the EUR.

A Hawkish Federal Reserve may be detrimental for a move to the upside of the EUR, whilst a Dovish response may support more growth in the EUR. In addition, with employment data to come out of the USA softer data may support a more dovish Federal reserve. In the past few days and weeks, the EUR has seen some strong momentum on the back of growth data that has seen the region avoid a recession.

Crucially, the GDP of the Eurozone grew by 0.1% which beat an expected 0.1% retraction for the quarter. A general weakening of the USD has also supported a bounce of the EUR as money has moved away from the safety of the greenback and into other assets. Technical Analysis In terms of the long-term analysis, the price has mostly ranged between 1.04 and 1.25 except when the price bottomed last year.

The price is currently showing some weakness and has so far been unable to break through 1.09 and has sold down on candlesticks that are testing the 1.09 level. Therefore, it would not be surprising to see the price retrace to the previous support level at 1.06 before another move to the upside. On the daily price chart, the price is showing a strong upward channel/trend.

This channel shows how the bottom of the channel fall along an important area of market structure. This zone acts as the 50-day moving average, the recent support level and the bottom of the channel. This bolsters this region as a zone for ana entry should the price retrace.

With a target of 1.12 this represents a risk reward of 2.5. Ultimately the trend of the EUR will most likely be dictated by the movements of the Federal reserve and the ECB. However, should the macroeconomic factors permit, the EUR could very well continue its run.

US Dollar Fundamental Analysis Recent data indicated that the U.S. economy grew strongly in the fourth quarter which has boosted the Dollar against the Euro. This has supported the Federal Reserve's hawkish stance in spite of reports that US consumer spending has fallen, and inflation has cooled. According to the Commerce Department, the Consumer Price Index (CPI), the Federal Reserve's preferred inflation measure, increased 0.1% in November after a similar gain the month before.

With traders eagerly awaiting the Federal Reserve's guidance for interest rate rises, the Dollar firmed on Monday and distanced itself from an eight-month trough. Despite last week's eight-month low of 101.50, the U.S. dollar index rose 0.03% to 101.92. US Dollar Index Technical Analysis The Dollar Index is currently testing a major support area taken from the weekly time frame, around $101.55.

It has been consolidating and testing the area for almost 10 days, strongly suggesting that bulls are starting to take back control of the market after a steady decline of roughly -4% in the last 4 weeks. In alignment with the weekly analysis, on the daily timeframe, a trend line from the lower lows can be drawn, and from the chart below, the price has recently reached the bottom of the trend line. The price has consolidated for a number of days at the weekly support level mentioned earlier.

The Dollar may potentially climb towards the resistance level at $104, if it remains above and respects the bottom of the channel.

Bitcoin has rallied extremely hard to start the year as risk on sentiment returned to begin the year with the price of the leading cryptocurrency at its highest level since August of 2022. Risk assets have been the play in early 2023 with hopes for a settling of interest rate hikes by major central banks. As the technology sector and other growth areas have continued to rise up the price of Bitcoin has followed.

The price is almost 50% up from its lows in the middle of December 2022. With the macroeconomic factors still largely the main drivers of the risk sentiment and the upcoming Federal Reserve Funds to be announced on Thursday, the rate announcement could play a large role in the short term price action. The Fed is expected to increase the official rate by 25 bps.

However, all eyes will be on the accompanying commentary that will provide important direction on the Fed’s future plans in the upcoming months. Moreover, a hawkish commentary will likely lead to a selloff in risk assets and dovish commentary the opposite. In terms of the long term perspective the price of Bitcoin has had its best month since October 2021.

The price has made a significant bounce off the 15,000-20,000 support zone and looks to have reclaimed the 50 month moving average. This indicates a potential reversal or at least shift in sentiment. The next region of resistance is the original neckline of the long-term double top, between $30,000 and $40,000.

It may be difficult for the price to break above this resistance in the short term without a catalyst. The other thing to remember is that there is a lot of supply that still needs to be worked through before any significant move upward can occur, although, the monthly candle is looking very encouraging. This next zone of resistance looks to be the primary target in the short to medium term for a long trade on Bitcoin.

Looking at the shorter term charts, they price actions tells a similar story. Specifically, on the daily chart, the price has seemingly paused as it awaits confirmation of a breakout at 25,000. If this breakout can be supported by some significant volume it may confirm the reversal.

The other element that must be considered with Bitcoin is the potential for a short squeeze. With the asset so beaten down, it is possible that shorts will become squeezed leading to aggressive moves to the upside if momentum can begin to build. Ultimately, the price action of Bitcoin will most likely be led by the overall risk sentiment in the market and as such traders should be weary of the overall market sentiment.

Tesla Inc. (NASDAQ: TSLA) reported Q4 2022 financial results after the market close in the US on Wednesday. World’s largest automaker reported revenue that fell short of Wall Street expectations at $24.32 billion (up by 37% vs. Q4 2021) vs. $24.669 billion expected.

The company beat earnings per share (EPS) estimates for Q4. EPS at $1.19 per share vs. $1.127 per share estimate. Company commentary ''Q4-2022 was another record-breaking quarter and 2022 was another record- breaking year.

In the last quarter, we achieved the highest-ever quarterly revenue, operating income and net income in our history. In 2022, total revenue grew 51% YoY to $81.5B and net income (GAP) more than doubled YoY to $12.6B.'' ''As we progress into 2023, we know that there are questions about the near- term impact of an uncertain macroeconomic environment, and in particular, with rising interest rates. The Tesla team is used to challenges, given the culture required to get the company to where it is today.

In the near term we are accelerating our cost reduction roadmap and driving towards higher production rates, while staying focused on executing against the next phase of our roadmap.'' Stock reaction The share price of Tesla was up by 0.38% at $144.34 a share at market close on Wednesday. The stock rose by around 1% in the after-hours trading after the results. Stock performance 1 month: +28.14% 3 months: -35.71% Year-to-date: +17.25% 1 year: -53.78% Tesla stock price targets High: $436 Median$194 Low: $85 Average: $208.55 Tesla is the 13 th largest company in the world with a market cap of $455.91 billion.

Tesla’s total market cap has decreased by 52% in the past year. You can trade Tesla Inc. (NASDAQ: TSLA) and many other stocks from the NYSE, NASDAQ, HKEX, ASX, LSE and DE with GO Markets as a Share CFD. Sources: Tesla Inc., TradingView, MarketWatch, MetaTrader 5, WSJ, CompaniesMarketCap

Mastercard Inc. (NYSE: MA) announced the latest financial results for the previous quarter before the market open on Thursday. World’s third largest financial services company beat both revenue and earnings per share (EPS) estimates for Q4 2022. The company reported revenue of $5.817 billion vs. $5.793 billion estimate.

EPS at $2.65 per share in Q4 vs. $2.575 per share expected. CEO commentary ''We closed out the year with strong financial results and notable wins which will help us capitalize on the tremendous secular shift to digital payments,'' Michael Miebach, CEO of the company said in a press release. ''As we look at the broader economy, we see the continued recovery of cross-border travel, with volumes up 59% versus a year ago and we’re encouraged by Asia opening up further. While macroeconomic and geopolitical uncertainty persists, consumer spending has been remarkably resilient.

We are well prepared to adjust our investment profile quickly if needed,'' Miebach concluded. Stock reaction Share price of Mastercard dipped by around 2% on Thursday, trading at around $374 a share. Stock performance 1 month: +7.91% 3 months: +17.65% Year-to-date: +8.06% 1 year: +7.19% Mastercard stock price targets Baird: $410 Barclays: $427 Truist Securities: $450 Jefferies: $430 Keybanc: $425 UBS: $441 Wells Fargo: $405 Mizuho: $380 Morgan Stanley: $437 Mastercard is the 19 th largest company in the world with a market cap of $363.31 billion.

You can trade Mastercard Inc. (NYSE: MA) and many other stocks from the NYSE, NASDAQ, HKEX, ASX, LSE and DE with GO Markets as a Share CFD. Sources: Mastercard Inc., TradingView, MarketWatch, MetaTrader 5, Benzinga, CompaniesMarketCap

Microsoft Corporation (NASDAQ: MSFT) reported the latest financial results on Wall Street after the market close on Tuesday. Let’s take a closer look at the results. The US technology giant reported revenue of $52.747 billion for quarter ending on December 31, 2022 (up by 2% year-over-year), narrowly falling short of $52.987 billion revenue expected.

Earnings per share (EPS) reported at $2.32 per share (down 6% year-over-year) vs. $2.293 per share estimate. CEO and CFO commentary ''The next major wave of computing is being born, as the Microsoft Cloud turns the world’s most advanced AI models into a new computing platform,'' CEO of Microsoft, Satya Nadella looked into the future of the company. ''We are committed to helping our customers use our platforms and tools to do more with less today and innovate for the future in the new era of AI,'' Nadella concluded. Amy Hood, CFO: ''We are focused on operational excellence as we continue to invest to drive growth.

Microsoft Cloud revenue was $27.1 billion, up 22% (up 29% in constant currency) year-over-year as our commercial offerings continue to drive value for our customers.'' Stock reaction Shares of Microsoft were down by 0.22% at market close on Tuesday, trading at $241.56 a share. The stock was up by around 4% in the after-hours. Stock performance 1 month: +2.14% 3 months: -3.44% Year-to-date: +0.93% 1 year: -16.10% Microsoft stock price targets High: $365.00 Median: $280.00 Low: $212.00 Average: $284.76 Microsoft is the 3 rd largest company in the world with a market cap of $1.804 trillion.

You can trade Microsoft Corporation (NASDAQ: MSFT) and many other stocks from the NYSE, NASDAQ, HKEX, ASX, LSE and DE with GO Markets as a Share CFD. Sources: Microsoft Corporation, TradingView, MarketWatch, MetaTrader 5, WSJ, CompaniesMarketCap