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Latest Analysis

XM Research - 3 hours agoNeutral

GBPCAD trades higher after strong UK CPI report Canadian CPI later today could reverse the recent trend Momentum indicators are mostly bullish GBPCAD is trading higher today, benefiting from a strong UK CPI inflation report that most likely cements expectations that the BoE will not announce a rate cut on Thursday. GBPCAD continues to experience a decent bullish trend from the April lows, and it is now preparing to retest the September 29, 2023 ascending trendline.
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XM Research - 4 hours agoNeutral

Technical Analysis – EURGBP trades within tight channel

·       EURGBP finds strong resistance at 50-day SMA ·       Momentum oscillators hold below their mid-levels EURGBP is trading within a narrow range of 0.8420-0.8460 over the last couple of weeks, remaining capped by the flat 50-day simple moving average (SMA) around the 0.8460 resistance. Technically, the RSI indicator is pointing south marginally beneath the 50 level; however, the MACD oscillator is holding above its trigger line beneath the zero line with weak momentum.
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XM Research - 4 hours agoNeutral

Technical Analysis – USDJPY poised for a new bullish wave; will it succeed?

USDJPY sets the ground for a bullish reversal, but it's still trapped below key resistance Technical signals cannot rule out more bearish actions; sellers wait below 140 Fed to deliver its first rate cut in four years at 18:00 GMT   USDJPY turned green on Tuesday, marking its best daily session in a month after securing a solid base around the 140 number.
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XM Research - 4 hours agoNeutral

Technical Analysis – US 100 index in anticipation mode ahead of the Fed

US 100 index trades sideways ahead of the Fed meeting It battles with the July 11, 2024 descending trendline Momentum indicators are tentatively bullish The US 100 cash index is moving sideways today, continuing its low volatility sessions, as market participants are staying on the sidelines ahead of the crucial Fed meeting. The first Fed rate cut since March 2020 will most likely be announced later today with speculation being rife about a 50bps rate cut, with arguable impact on s
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XM Research - 6 hours agoBullish

Gold stands beneath 20-period SMA MACD and RSI lose positive momentum Gold prices have declined from the all-time high of 2,589.66 over the last couple of days, meeting the 2,560 support level and being capped by the 20-period simple moving average (SMA). According to technical oscillators, the MACD is diving beneath its trigger line in the positive territory, while the RSI is falling near the neutral threshold of 50. If there is a drop below the 2,560 support level, then the market
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XM Research - 1 day agoBullish

Technical Analysis – US 30 index records another all-time high

US 30 posts several days of gains Price holds near upper band of ascending channel Stochastic looks overbought The US 30 cash index experienced a new all-time high during Monday’s session touching the 41,740 level. The price completed four consecutive green days following the strong rebound off the 40,000 psychological mark and continues to hold near the upper boundary of the upward sloping channel.
XM Research - 1 day agoBullish

Technical Analysis – Will EURUSD take its bullish chances?

EURUSD slows pace after a quick bounce to 1.1135 Short-term trendline in focus; technical bias remains positive US retail sales due at 12:30 GMT   EURUSD started the week on the right foot, finishing Monday’s session comfortably higher, though around the short-term resistance trendline at 1.1135, which poses a risk. The pair is currently lacking momentum, but the bulls are still in town according to the technical indicators.
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XM Research - 1 day agoBearish

Technical Analysis – EURJPY seems to have found a floor

EURJPY rebounds off 155.15 Immediate resistance at downtrend line RSI and MACD look negative EURJPY held losses for the second week in a row, dropping towards the 155.15 support, which stands slightly above the more-than-seven-month low. Technically, the price could lose some ground in the short term as the RSI is changing direction to the downside and towards its 30 mark, while the MACD is still standing beneath its trigger and zero lines.
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XM Research - 2 days ago

Weekly Technical Outlook – USDJPY, EURUSD, GBPUSD

EURUSD speeds up to test 1.1100 area as debate over a bold Fed rate cut continues USDJPY hits 14-month low; BoJ awaited to give direction on rate hikes GBPUSD shifts to the upside ahead of CPI data and BoE rate decision   FOMC rate decision --> EURUSD The Fed will announce its rate decision on Wednesday at 18:00 GMT and the question is not if, but by how much it will cut interest rates.
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XM Research - 2 days agoBullish

US 500 index holds above 20- and 50-day SMAs Stochastics and RSI turn slightly lower MACD remains above its trigger and zero line The US 500 (cash) index added around 5% so far, following the pullback off 5,385 and posted five consecutive green days. The price is ready to rechallenge the previous peak of 5,650 ahead of the all-time high of 5,673.39. Steeper increases may open the way for a test of the 161.8% Fibonacci extension level of the latest bearish correction from 5,673.39 t
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XM Research - 2 days agoBearish

Technical Analysis – USDJPY unlocks new 14-month low

USDJPY dives below 140.70 key level Momentum oscillators continue downside pressure USDJPY has declined considerably towards a new 14-month low of 139.56 earlier today, continuing the significant sell-off. The price has been in a bearish tendency since mid-August with the technical oscillators confirming the current move. The MACD oscillator is standing beneath its trigger and zero lines, while the RSI is crossing below the 30 level.
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XM Research - 2 days agoBullish

Technical Analysis – Gold flies to fresh all-time high near 2,600

Gold posts bullish days Prices find support at 20-day SMA MACD and RSI in positive areas Gold prices are skyrocketing to another fresh all-time high today around 2,589.40 with the next major obstacle coming from the 2,600 round number. The price has recorded an aggressive buying interest over the last couple of days after the strong bounce off the 20-day simple moving average (SMA) at 2,510. Technically, the MACD oscillator is extending its upside move above its trigger and zero l
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XM Research - 5 days agoNeutral

Technical Analysis – GBPJPY makes a backflip, but patience needed

GBPJPY resumes negative momentum, but hopes for a pivot remain Sellers need a close below 185.65 to take full control   GBPJPY came under renewed downside pressure after closing Thursday’s session with mild gains around 186.00. The pair shifted from a recent low of 183.70 earlier this week, forming a hammer candlestick and giving hope for a potential upward reversal.
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XM Research - 5 days agoBearish

Technical Analysis – USDCAD flirts with 200-day SMA again

USDCAD remains below 1.3600 MACD and RSI indicate upside recovery USDCAD is moving back and forth of the 200-day simple moving average, which is standing marginally beneath the 1.3600 round number. Earlier in the week, the market successfully travelled towards the 1.3620 bar, adding optimism for more bullish actions. The technical oscillators are confirming an upside recovery after prices bounced off the 1.3440 support level.
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XM Research - 6 days ago

Midweek Technical Look – EURJPY, USDCHF, Gold

EURJPY sends encouraging signals; confirmation awaited above 156.74 USDCHF builds a floor near 8-month low; bulls seek more power above 0.8540 Gold in a wait-and-see mode within the 2,500 area as risks remain
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XM Research - 6 days agoBullish

Technical Analysis – AUDUSD remains above 200-day SMA

AUDUSD battles with 50-day SMA Stochastics point north but RSI flattens AUDUSD had a bullish start on Thursday, with the price flirting with the 50-day simple moving average (SMA) at 0.6670. Momentum signals are neutral-to-bullish, with the RSI appearing to be heading south, while the stochastic oscillator has reversed higher after the bullish crossover within its %K and %D lines in the oversold area.
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XM Research - 6 days agoBearish

Technical Analysis – WTI crude oil recoups some losses after sell-off

WTI crude oil rises from 17-month low Momentum oscillators gain some ground WTI crude oil has finally climbed higher from the 17-month low of 65.70 after the aggressive selling interest from the 78.75 resistance. Over the last three weeks, the commodity has lost more than 16%, switching the outlook to strongly bearish. According to technical oscillators, the MACD is losing its negative momentum and is ticking slightly up, while the stochastic oscillator is heading north after the bul
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XM Research - 1 week agoNeutral

EURGBP is edging higher today, a tad below its 50-day SMA Euro gains today after a weak set of UK data prints Momentum indicators ready to signal a bullish move EURGBP is trading higher today, relatively close to its 50-day simple moving average (SMA) after testing, but, once again, failing to close below the 0.8401 level. The euro is preparing for Thursday’s ECB meeting, which is expected to deliver another rate cut, with the pound suffering after a relatively weak set of econo
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XM Research - 1 week agoBullish

Technical Analysis – Gold shifts attention to uncharted territory

Gold looks for a bullish breakout above rectangle Bullish sentiment dominates; stability cannot be ruled out US CPI inflation figures due for release at 12:30 GMT   Gold rapidly approached the upper band of its three-week-old tight range at 2,530, increasing the possibility of entering unexplored territory. The ball is still on the bulls’ court according to the technical indicators in the four-hour chart. The RSI is making a new higher high above its 50 neutral mark and the
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XM Research - 1 week agoBearish

Technical Analysis – USDJPY plummets to new 9-month low

USDJPY confirms the bearish structure Next support at 140.20 Momentum oscillators keep moving negative USDJPY tumbled to a fresh nine-month low of 140.70 earlier today, boosting the bearish structure that started at the beginning of July. If the market ends the day below the 141.60 strong barrier, then the focus will shift to the 140.20 support, taken from the lows in December 2023. Steeper declines could pave the way for a test of the July 2023 trough at 137.20. On the other hand
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