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Latest Analysis

XM Research - 2 hours agoBullish

Technical Analysis – Gold surges to fresh record high

 Gold posts new all-time high on Monday  But oscillators haven’t reached overbought conditions  The divergence suggests that the advance may extend further Gold has been on the rise in the past couple of sessions, storming above the 2,500 psychological mark to a fresh record high on Monday. The latest rally could extend further given that the momentum indicators have not yet entered their overbought territories.
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XM Research - 2 hours agoBullish

Technical Analysis – US 500 index slips after 10% recovery

US 500 index rises above long-term uptrend line 200-day SMA still holds well Stochastic and RSI indicate overstretched market The US 500 cash index recovered by almost 10% from the bearish wave that started from the all-time high of 5,673.39 and is currently returning to a position above the long-term ascending trend line. The index found strong support at the 2,090 support level, which stands near the 200-day simple moving average (SMA).
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XM Research - 4 hours agoBullish

Technical Analysis – EURUSD tests 1.1050 tricky area

EURUSD flirts with 8-month high again Remains well above the long-term symmetrical triangle 50- and 200-day SMAs ready for bullish cross Momentum oscillators confirm upside move EURUSD has been in a bullish move, especially after the rally above the long-term symmetrical triangle last week. The pair is again battling with the almost eight-month high of 1.1050, with the simple moving averages (SMAs) mirroring the current upside movement as they are all ticking higher.
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XM Research - 4 days agoBullish

Technical Analysis – AUDUSD rebound gets blocked by 50-day SMA

AUDUSD retraces 61.8% of the July-August selloff But meets tough resistance at 50-day SMA AUDUSD has surged by around 4.5% from the August 5 low of 0.6347 but the recovery has hit a snag at the 50-day simple moving average (SMA) in the 0.6635 region. After two days of unsuccessful attempts to overcome this barrier, the price has now slipped below the 61.8% Fibonacci retracement of the July-August slump at 0.6625. The technical indicators remain positive but are sending mixed signals a
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XM Research - 5 days agoBullish

EURJPY is extending its rebound from 8-month lows But is there enough momentum to stretch the gains further? EURJPY is rising for a third straight session, extending the rebound from the August 5 low of 154.38 towards the 38.2% Fibonacci retracement of the July-August slide. The 38.2% Fibonacci of 162.41 has seen some congestion in the past so overcoming it might not be so easy.
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XM Research - 5 days agoBullish

Technical Analysis – Is gold ready to sail to an all-time high?

Gold moves sideways; faces resistance near 2,473 Technical signals are positive for a continuation to 2,500 ahead of CPI data Gold repeated its July bounce off the 200-period simple moving average (SMA) on the four-hour chart to re-examine the 2,473 resistance, which ceased upside pressures earlier this month. The bulls have been unsuccessful so far as the battle against the 2,473 barrier continues for the third consecutive day.
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XM Research - 5 days agoBullish

EURGBP regains strength near 0.8540 after UK CPI surprises to the downside Short-term bias is skewed to the upside; confirmation awaited above 0.8560   EURGBP completed four green weeks since its plunge to a two-year low of 0.8381 and another one is in progress despite the break from a vertical rally that led the price to a three-and-a-half month high of 0.8623. Weaker-than-expected UK CPI data helped the pair to turn up near the 61.8% Fibonacci retracement of the April-July downleg
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XM Research - 5 days agoBearish

Technical Analysis – NZDUSD hits a wall at the 200-day SMA

NZDUSD had been in a recovery mode since early August But 200-day SMA rejects advance after dovish RBNZ meeting Oscillators deteriorate, yet remain neutral-to-positive NZDUSD had been steadily regaining ground since the beginning of the month after finding its footing near the previous 2024 low of 0.5851 registered in April. However, the rebound paused at the 200-day simple moving average (SMA), with the bears getting aided by a dovish RBNZ rate decision on Wednesday.
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XM Research - 5 days agoNeutral

Technical Analysis – USDJPY's sideways trading might end abruptly

USDJPY continues to hover around the 146 area Market participants are preparing for the US CPI release Momentum indicators remain mixed USDJPY continues to trade sideways, hovering around the 146.65-147.71 area for the fifth consecutive session. The bears are holding most of the gains of the sizeable correction from the early July high of 161.94, but have failed to take advantage of USD’s recent underperformance.
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XM Research - 6 days agoNeutral

Technical Analysis – Palladium futures bounce off multi-year low

Palladium switches to recovery mode after hitting a more-than-seven-year low   Price trades within bearish channel; a break above 1,038 is needed Palladium futures experienced a flash drop to 808.99, violating by a slight margin their 2024 range to hit the lowest point since May 2017 earlier this month. The slide, however, was temporary and the price soon rotated higher again to resume its previous neutral profile above February’s trough of 856. The 920 region has been a hurdle
XM Research - 6 days agoBullish

Technical Analysis – EURUSD bulls don’t want to give up

EURUSD maintains sideways move as 1.0940 barrier blocks the way up Technical risk is on the positive side; eyes on 1.0970 too US PPI due at 12:30 GMT; FOMC member Bostic speaks today   EURUSD continues to face restrictions near the 1.0940 level and the resistance trendline from July 2023, which squeezed the price below a seven-month low of 1.1007 last week.
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XM Research - 6 days agoBullish

Technical Analysis – GBPUSD battles with 50-day SMA

GBPUSD advances after its bounce off 200-day SMA A potential breach of 50-day SMA could improve outlook Oscillators suggest strengthening positive momentum GBPUSD had been on the rise following its deflection at the 200-day simple moving average (SMA) on August 8. After four consecutive daily green candlesticks, the pair is on track to reclaim its 50-day SMA as the momentum indicators are hinting at an improving positive bias.
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XM Research - 1 week agoBullish

US 500 cash index rebounds from 3-month low The price jumps above 50-SMA on the 4-hour chart Momentum indicators are tilted to the upside The US 500 stock index (cash) came under severe selling pressure last week, dropping to its lowest level since early May. However, the price seems to be in a recovery mode since its recent bottom, with the bulls reclaiming the 50-period simple moving average (SMA).
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XM Research - 1 week agoBullish

Technical Analysis – Gold on track to revisit all-time high

Gold advances after bouncing off 50-day SMA The bulls eye recent record high as next target Oscillators are cautiously tilted to the upside   Gold has been trading back and forth within a range in the past month, unable to adopt a clear directional impetus. In the near term though, the precious metal has been on the rise after meeting support at the 50-day simple moving average (SMA).
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XM Research - 1 week agoBearish

Technical Analysis – USDCAD bears take a break but are not done yet

USDCAD experiences worst week of the year Selling pressure might persist; eyes on 1.3730 Canadian employment figures due at 12:30 GMT   Since reaching a 22-month high of 1.3945, USDCAD has been steadily dropping towards its 50-day SMA at 1.3730, making it the worst-performing week of the year. The broken resistance trendline drawn from April's peak is now providing support in the market, although there is no certainty of a bullish rotation according to the technical indicat
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XM Research - 1 week agoNeutral

Technical Analysis – GBPJPY climb continues

GBPJPY is edging higher today, recording another green session It remains around 10% below its recent peak Momentum indicators acknowledge this bullish reaction GBPJPY is edging higher again today, recording its third consecutive green candle and recovering by around 4% above its August 5 low. The market has settled down a bit following the recent rout, with GBP recovering a tad after the recent BoE rate cut.
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XM Research - 2 weeks ago

Midweek Technical Look – GBPUSD, NZDUSD, Oil

GBPUSD retains bearish bias as key support region comes under the spotlight NZDUSD charts bullish double bottom pattern as RBNZ rate decision awaited  WTI oil futures rotate higher after touching important pivot area  
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XM Research - 2 weeks agoNeutral

Technical Analysis – Does the recent EURJPY correction have legs?

EURJPY is hovering around the 159.64 level It is trading around 9% lower from its recent high Momentum indicators are mixed, all eyes on stochastics EURJPY is trading lower today, close to the 159.64 level and considerably above the August 5 low of 154.38. The market is clearly trying to find its footing following the recent rout that was triggered by the bigger-than-expected rate hike by the BoJ and fears about an imminent US recession.
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XM Research - 2 weeks ago

Technical Analysis – NZDUSD jumps aggressively higher

NZDUSD records a sizeable green candle today Strong reaction following the recent acute correction Momentum indicators are mixed, bearish pressure weakening NZDUSD is edging aggressively higher today, cancelling out a good part of the recent correction that led to a new 9-month low. The overall positive market sentiment and the stronger labour market data from New Zealand during the Asian session have helped NZDUSD climb higher as the RBNZ is preparing for next week’s rate-settin
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XM Research - 2 weeks agoNeutral

Gold meets familiar support area near 200-SMA Technical signals reflect persisting caution A close above 2,394 could boost positive momentum   Gold has been squeezed between its 200-period simple moving average (SMA) at 2,385 and the broken support trendline from February 2024 at 2,393, which switched to resistance, over the past couple of hours.
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