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Latest Analysis

XM Research - 2 hours agoNeutral

Technical Analysis – Ethereum fails to record a higher high

Cryptocurrencies are mostly in demand this weekEthereum rallies but fails to overcome the 2,667 levelMomentum indicators are mostly bullishFollowing Monday’s strong upleg, ethereum is experiencing a few quiet sessions by trading in a tight range. It is in the green today, but it remains stuck below the mid-September 2021 low of 2,667. Contrary to bitcoin’s strong performance and despite the positive newsflow, ethereum has failed to surpass the late-September peak, and hence continues to trad
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XM Research - 3 hours agoBullish

US 100 index maintains buying interestBulls need a close above 20,550-20,680Bears wait below 20,000   The US 100 index continues to hover above the key 20,000 level, following a pullback from a three-month high of 20,499 on Monday, signaling that buying interest is still alive.Technical indicators suggest potential for further gains, with the RSI showing signs of rebound and stochastic oscillators looking for an upside reversal.
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XM Research - 5 hours agoBearish

Technical Analysis – EURGBP goes back to a downtrend

EURGBP charts new 2 ½-year low after UK retail sales beat estimates Short-term bias is skewed to the downside, but price near familiar support line EURGBP plunged to a new 2½-year low of 0.8293, weighed by upbeat UK retail sales at 4.0% y/y and a dovish ECB policy stance, which raised concerns about the eurozone's growth.The outlook appears grim: the RSI is declining in bearish territory, and the MACD has crossed below its signal line.
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XM Research - 7 hours agoBullish

Technical Analysis – USDCHF overcomes medium-term uptrend line

USDCHF rebounds off 0.840020- and 50-day SMA post bullish crossoverMACD and RSI still above their mid-levelsUSDCHF has charged through its medium-term descending trend line near 0.8650 after the strong pullback from the 0.8400 round number. The momentum indicators point to a bullish bias in the near term, but there is also a risk of a negative correction.
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XM Research - 1 day agoNeutral

Midweek Technical Look – EURJPY, USDCAD, Gold

EURJPY in a wait-and-see mode ahead of ECB's rate decisionUSDCAD looks overbought after fast rally to two-month highGold starts a new bullish wave. Will it hit a new record high?
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XM Research - 1 day agoBearish

Technical Analysis – WTI crude oil eases below downtrend line

WTI crude oil weakens negative momentumStochastic tries to head higherWTI crude oil futures continue to decline after encountering strong pushback at the 78.75 resistance and the 200-day simple moving average (SMA). The commodity returned beneath the short-term downtrend line, endorsing the bearish outlook.The technical oscillators show some contradicting signs in the near term.
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XM Research - 1 day agoBearish

Technical Analysis – EURUSD dives beneath significant levels, losing 3%

EURUSD continues the sell-offImmediate support at medium-term uptrend lineStochastic edges lower in oversold areaEURUSD is experiencing more losses a few hours ahead of the ECB interest rate decision, sending the market beneath the 200-day simple moving average (SMA) and the 1.0870 resistance.Technically, the stochastic oscillator is extending its negative momentum in the oversold zone creating a bearish crossover within its %K and %D lines.
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XM Research - 2 days agoBullish

Gold surpasses previous top of 2,673MACD and RSI extend bullish structureGold prices are moving higher again today after bouncing off the 2,600 round number with the potential to hit the all-time high of 2,685.51. In the meantime, the momentum indicators are supportive of this upleg. The RSI is moving higher, a tad below the 70 level. More importantly, the MACD oscillator has managed to edge above its trigger line while holding above the zero level.Should the bulls still feel thirsty, they woul
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XM Research - 2 days agoNeutral

Technical Analysis – USDJPY faces a pass or fail test

USDJPY extends consolidation around August’s barTechnical signals weaken, cannot warrant a bullish trend reversalUS retail sales, jobless claims due on Thursday at 12:30 GMTUSDJPY reached a two-month high of 149.96, but it couldn’t hold its strength above the 200-day exponential moving average (EMA) at 149.40 on Tuesday.Over the past few days, the pair has been struggling for a bullish breakout, leaving investors wondering whether it’s time for a negative pivot. The slowdown in the techni
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XM Research - 2 days agoBearish

Technical Analysis – NZDUSD opens the way for more losses

NZDUSD hovers beneath 200-day SMAStochastic and RSI maintain downside momentumNZDUSD has found strong resistance near the 200-day simple moving average (SMA) at 0.6090, diving towards the previous bottom of 0.6050.According to technical oscillators, they both confirm the recent bearish structure. The stochastic is heading south, ready to post a bearish crossover within its %K and %D lines, while the RSI is pointing slightly down below the neutral threshold of 50.Diving further, the price could t
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XM Research - 3 days agoBullish

Technical Analysis – Netflix stock retreats somewhat ahead of earnings release

Netflix remains in a bullish mode in long-term viewMACD and RSI lose steamNetflix stock is set to release its earnings on October 17 while the price added more than 25% following the rebound from the 590 support level, taking the market towards a fresh high of 734. Currently, the price is retreating, meeting the 20-day simple moving average (SMA) at 710.From a technical perspective, the MACD oscillator is losing some momentum, dropping beneath its trigger line above the zero level.
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XM Research - 3 days agoBearish

Technical Analysis – GBPUSD holds near September’s support zone after mixed jobs data

GBPUSD stays directionless near September’s baseTechnical signals cannot warrant an upside reversalGBPUSD faced mild selling pressure but held its footing above September’s floor of 1.3000-1.3040 after the UK employment survey showed better-than-expected jobs data in August and an increase in the number of unemployed people in September.The bears may have luck on their side as the technical indicators are not confirming oversold conditions yet.
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XM Research - 3 days agoNeutral

Technical Analysis – EURJPY posts strong fight with 163.45-164.00 barrier

EURJPY looks neutral in short-term view200-day SMA seems to be another real struggle for bullsMACD and stochastics weaken their momentumEURJPPY has been stuck within a tight range of 162.30 and 163.45, remaining in a broader sideways channel of 155.15-164.00. The pair has been consolidating over the last seven days and needs a further boost for a s
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XM Research - 4 days agoBullish

Technical Analysis – USDJPY tests new 3½-month high

USDJPY makes an attempt for steeper bullish actionsMACD and RSI confirm upside momentumUSDJPY is rising towards a fresh three-and-half-month high of 149.71, posting the fifth consecutive green 4-hour session. The next strong battle likely awaits at the 150.00 psychological level, but the next resistance lies at the 151.90 level, taken from the inside swing low on July 25. But first, the price needs to overcome the 200-day simple moving average (SMA), which is at 151.20.Otherwise, a decline ben
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XM Research - 4 days agoBullish

Technical Analysis – US 30 index celebrates another record high

US 30 index strengthens uptrend to all-time high of 42,904Short-term bias is positive, but the way up may not be straightThe US 30 index (cash) hit an all-time high of 42,904 in less than a month on Friday and closed above the constraining line at 42,550, raising confidence that its record rally has more room to go.Having bounced off its 20-day simple moving average (SMA), the bulls may face immediate resistance within the 43,155-43,500 constraining region given the overbought signals comin
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XM Research - 4 days agoNeutral

EURCHF is in the green, back inside the developing patternThe medium-term downward trend is still in placeMomentum indicators remain inconclusiveEURCHF is trading higher again today, a tad below the busy 0.9403-0.9423 area. Last week’s break below the lower trendline of the developing contracting triangle proved premature, as EURCHF quickly returned inside this pattern.
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XM Research - 4 days agoNeutral

Weekly Technical Outlook – EURUSD, GBPUSD, USDJPY

ECB expected to cut rates by 25 bps; EURUSD remains beneath 1.1000UK CPI could provide some clues for the next BoE decision; GBPUSD in weak modeUS retail sales may lower chances for another Fed rate cut; USDJPY flirts with 149.35ECB decision -->  EURUSDThe upcoming ECB interest rate decision on Thursday is this week's most anticipated event. Initially opposed by President Lagarde and her colleagues, the possibility of a rate decrease in October has gained traction among investors.�
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XM Research - 4 days agoBullish

Technical Analysis – Gold might take another bullish shot

Gold enters a new bull run; shifts spotlight to all-time highTechnical signals point to more upside; close above 2,650 needed Gold started a new bullish corrective phase near the 2,600 level last week, adding extra credence to its upward trend that has been active for more than two months.On Monday, the price climbed to 2,666, surpassing the short-term falling trendline from September’s peak that the bulls must break to reach the top of 2,670 or achieve a new record high near the upper ban
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XM Research - 1 week agoNeutral

Technical Analysis – US 100 index slows down near September’s high

US 100 index holds within bullish area but lacks steamBulls need a close above 20,325-20,500 to strengthen uptrendThe US 100 stock index is about to open mildly lower on Friday despite upbeat US banking earnings, weighed by Tesla’s disappointing guidance on its self-driving robotaxis.The index stabilized around September’s high and near the constraining ascending line from September 2022 at 20,316 following its bounce off the 20-day exponential moving average (EMA).
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XM Research - 1 week agoNeutral

Cryptocurrencies remain on the back footEthereum is still trading below its 50-day SMAMomentum indicators could turn bullishEthereum is recording a green session today, but it remains firmly below the 50-day simple moving average (SMA), which continues to act as strong resistance at this stage. The muted rally in stocks has failed to inspire crypto investors with yesterday's headlines that another crypto exchange is targeted by the SEC adding to the overall negative sentiment.In the meantime
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