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81.8% company have surpassed first-quarter earnings estimate

81.8% company have surpassed first-quarter earnings estimate | 16 April 2019

16 April 2019, USD/JPY

81.8% company have surpassed first-quarter earnings estimate

USDJPY trading plan:

The course of trading will be strongly influenced by the dynamics of the U.S. stock market. The S&P500 showed a slight decline on Monday. I think it was a technical correction, not a trend change. Of the 33 S&P 500 companies that have reported results so far, 81.8% have surpassed first-quarter earnings estimate, above the average of past four quarters. This is a good signal for investors! The Federal Reserve will reduce bond sales by $ 20 billion from May - financial markets will receive additional liquidity. The benchmark S&P 500 index is just about 1% away from its September record closing high. We can see a new record this week.

Trading recommendation: Buy 111.80 and take profit 112.25.

David Johnson
Analyst of «FreshForex» company
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