EURUSD

Technical Analysis – EURUSD navigates north; range maintains stronghold

Posted on November 16, 2020 at 8:58 am GMT

EURUSD is piloting higher within a nine-week sideways market after having found some traction off the 50-day simple moving average (SMA). Despite the flattening 50-day SMA, which is endorsing the consolidating picture, the SMAs are sustaining their bullish demeanour, promoting more improvements in the pair. The short-term oscillators also transmit an increase in positive sentiment. The MACD is growing above its red trigger and zero lines, while the RSI is climbing in bullish territory. Furthermore, the stochastic oscillator encourages positive [..]

Daily Market Comment – Vaccine euphoria runs out of steam, Fed chief speaks

Posted on November 12, 2020 at 12:42 pm GMT

Markets in a cautious mood as lockdown reality eclipses vaccine hype Stocks pull back, dollar climbs, but moves rather small in size Main event today: Discussion panel featuring Fed, ECB, and BoE chiefs ECB sticking to its guns about more stimulus, will Fed follow suit? Back to reality for markets A sense of caution has crept back into global markets on Thursday as investors grapple with the short-term covid reality on the ground, which has reined in the enthusiasm around [..]

Daily Market Comment – RBNZ lights a fire under the kiwi, sterling climbs too

Posted on November 11, 2020 at 9:51 am GMT

RBNZ plays down negative rates, kiwi flies Sterling leaps after divisive bill suffers crushing defeat in Lords Markets in a cheerful mood overall, but watch the Fed Kiwi charges higher after RBNZ ‘disappoints’ The kiwi dollar took off like a rocket on Wednesday, extending the gains it recorded amid all the vaccine enthusiasm, after the Reserve Bank of New Zealand poured cold water on speculation for negative rates. While the Bank maintained a cautious tone and even introduced a [..]

US CPI data eyed as vaccine news overwhelms markets – Forex News Preview

Posted on November 10, 2020 at 3:11 pm GMT

In America, the highlights this week will be the latest CPI inflation data at 13:30 GMT Thursday and a speech by Fed Chairman Powell at 16:45 GMT, which could shed some light on whether the Fed will ramp up its stimulus dose again this year. The split Congress outcome and lack of a powerful relief package suggest it should, but the latest vaccine news has cast doubt on that. As for the dollar, any hints that the Fed won’t follow [..]

Daily Market Comment – Wall Street charges higher on vaccine news, but bond market ruins the party

Posted on November 10, 2020 at 12:55 pm GMT

US stock market hits new record after Pfizer vaccine announcement Crude oil and commodity currencies soar, yen crumbles alongside gold However, the party doesn’t last – stocks give up most gains, dollar reverses higher RBNZ meeting coming up, vaccine and stimulus news remain in focus Pfizer vaccine news catapult markets to new records Christmas came early for investors this year, with global equities charging higher and safe havens falling apart after drug maker Pfizer announced that the coronavirus vaccine it [..]

Daily Market Comment – Stocks resume furious rally as Biden wins

Posted on November 9, 2020 at 12:09 pm GMT

US election ‘aftershocks’ continue – equities roar higher, dollar slips Several theories floated to justify this relentless rally, but question is, can it last? Markets may revert to trading covid news and prospect of fiscal package Crunch time in Brexit talks too, traders seem confident a deal is coming US stocks back near record highs It’s official. Joe Biden was declared the new president-elect of the United States over the weekend, injecting another dose of optimism into global markets even [..]

Technical Analysis – EURUSD surges near 1.1900 in consolidation area

Posted on November 9, 2020 at 7:54 am GMT

EURUSD is rallying above the previous high of 1.1880, creating four straight bullish days after the bounce off the 1.1611 support level. The price also jumped above the 20- and 40-period simple moving averages (SMAs) and the Ichimoku cloud, signaling some more buying interest. Technically, the RSI is confirming the positive outlook as it approaches the overbought territory, while the stochastic is holding above the 80 level suggesting a retracement in the short-term. If the market picks up more speed, [..]

Week Ahead – The calm after the US election storm

Posted on November 6, 2020 at 12:31 pm GMT

It’s a relatively quiet week coming up for global markets as the election dust settles. The main event will be the RBNZ policy meeting, though frankly, the real driver for most currencies and stocks may be the ‘aftershock’ effects of the election. There’s also a slew of economic data, the Brexit adventure continues, and the earnings season winds down. There’s no keeping this market down No ‘blue wave’ in the US election? No problem. This was essentially the market response [..]

Technical Analysis – EURUSD surges above 1.1800; indicators look bullish

Posted on November 5, 2020 at 12:20 pm GMT

EURUSD is surging to a new one week-high around the 1.1800 handle after it surpassed the Ichimoku cloud and the 1.1770 barrier. The 20-and 40-period simple moving averages (SMAs) are ready to create a bullish crossover in the short-term timeframe, while technical indicators are heading north. The MACD is extending its move above its trigger and zero lines, and the RSI is approaching the overbought zone. In the positive scenario where the price continues to expand above today’s high of [..]

Daily Market Comment – Biden leads as Trump begins legal fight; dollar eases, stocks surge

Posted on November 5, 2020 at 9:56 am GMT

Biden edges closer to the White House but faces legal battles as Trump not giving up Markets undaunted by election stalemate, see good and bad in all outcomes Dollar near lows as Treasury yields extend slide, stocks shine in post-election rally Pound lifted by fresh BoE stimulus; less room for surprises by the Fed World holds breath in tightest election race ever Democratic nominee Joe Biden was one state away from victory early on Wednesday as counting continued across the [..]

Legal disclaimer: The material does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instruments. XM accepts no responsibility for any use that may be made of these comments and for any consequences resulting in it. No representation or warranty is given as to the accuracy or completeness of this information. Consequently, any person acting on it does so entirely at their own risk. The research and analysis does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it.

It has not been prepared in accordance with legal requirements designed to promote the independence of research, and as such it is considered to be marketing communication. Although we are not specifically constrained from dealing ahead of the publication of our research, we do not seek to take advantage of it before we provide it to our clients. We aim to establish, maintain and operate effective organisational and administrative arrangements with a view to taking all reasonable steps to prevent conflicts of interest from constituting or giving rise to a material risk of damage to the interests of our clients. We operate a policy of independence, which requires our employees to act in our clients’ best interests and to disregard any conflicts of interest in providing our services.

CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losing all of your invested capital, so please make sure that you fully understand the risks involved.