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Latest Analysis

XM Research - 8 hours ago

Technical Analysis – US 100 index shifts to the sidelines

US 100 index opens the day in neutral mood   Some recovery likely but outlook could stay cloudy below 18,822 Earnings season continues with Disney’s results on August 7   The US 100 stock index had a boring start to Tuesday’s session, remaining neutral around Monday’s closing price and the 18,100 level. Previously, the price staged a nice rebound near the 2023-2024 support trendline and bounced back above its 200-day SMA, increasing optimism that the bulls could soon take o
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XM Research - 9 hours agoBearish

Technical Analysis – GBPUSD drops out of bullish channel

GBPUSD trims more gains after bearish channel breakout  Technical signals remain negative; support at 1.2670   GBPUSD bears powered up on Tuesday with scope to fight the 200-day simple moving average (SMA) and the support trendline from the 2022 low at 1.2670, which triggered the April-July bull trend. Notably, the 50% Fibonacci retracement of this upleg is in the neighborhood.
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XM Research - 11 hours agoNeutral

Technical Analysis – JP 225 index tries to find footing after 20% crash

JP 225 index plummets to 10-month low amid global stock meltdown Oversold signals detected; but bulls could show up above 33,585   Japan’s 225 stock index (cash) started the month on the wrong foot, sinking by a massive 21% to a 10-month low of 30,361 in the wake of recession fears in the US and as the bruised yen finally entered a bullish cycle.
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XM Research - 15 hours agoNeutral

Technical Analysis – AUDUSD stays in one piece after flash crash

AUDUSD bounces back from its lowest point in nine months Short-term risk skewed to the upside; close above 0.6500 needed RBA maintains steady policy; pushes back rate cut timing   AUDUSD encountered a significant drop to a nine-month low of 0.6346 on Monday, marking its worst daily performance since the pandemic, but it quickly found fresh buying near the trendline, which connects the 2022 and 2023 lows, and managed to recover most of its losses by the end of the day.
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XM Research - 1 day ago

Weekly Technical Outlook– USDJPY, USDCAD, AUDUSD

USDJPY gives up its 2024 rally on recession fears; ISM services PMI next in focus AUDUSD sinks to 8-month low. Will the RBA policy decision come to the rescue? USDCAD loses momentum after 22-month high; Canadian employment due on Friday   ISM non-manufacturing PMI --> USDJPY Market expectations shifted from a soft landing to a hard landing after a disappointing ISM manufacturing survey coupled with poor jobs figures last week made investors think that the Fed has kept interes
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XM Research - 2 days ago

Technical Analysis – Gold rally in question

Gold is lower today, but close to recent highs Geopolitics and dollar underperformance support gold Momentum indicators are tentatively bullish Gold is trading lower again today, recording its third consecutive red candle, but remaining a tad below its recent all-time high. It is currently testing the upper boundary of the rectangle that has been defining market action since early April.
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XM Research - 5 days agoNeutral

Technical Analysis – USDCAD hits 8-month high, but it’s not a victory yet

USDCAD marks new higher high after disappointing ISM manufacturing PMI A close above 1.3880-1.3900 is needed to postpone profit-taking  US nonfarm payrolls eagerly awaited at 12:30 GMT     USDCAD began the month on a positive note, swiftly recovering from its recent setback and reaching an eight-month high of 1.3877, slightly above April’s peak of 1.3844. The pair has been in a bull run since bottoming twice near May’s floor of 1.3588 and around the 200-day exponential m
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XM Research - 5 days agoNeutral

Technical Analysis – WTI crude oil hovers beneath 200-day SMA

WTI trades within symmetrical triangle 20- and 50-day SMAs are ready for bearish cross WTI crude oil is moving back and forth from the 200-day simple moving average (SMA), with a strong resistance area near the potential bearish crossover between the 20- and 50-day SMAs. The price is developing within a symmetrical triangle in the medium-term timeframe, with no clear directional movement for now.
XM Research - 5 days agoBearish

Technical Analysis – AUDUSD declines to fresh 2-month low

AUDUSD extends retreat to its lowest since May 1 Oscillators are flagging oversold conditions AUDUSD has been in a steady retreat since July 11, violating both its 50- and 200-day simple moving averages (SMAs). Although the pair posted a fresh two-month low on Wednesday, the risk of a bounce to the upside has increased given that the momentum indicators are warning of an overdone decline.
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XM Research - 5 days ago

Technical Analysis – USDCHF bearish pressure lingers

USDCHF’s retreat continues with a new 6-month low recorded Downtrend from early May high is in place Momentum indicators acknowledge the bearish pressure USDCHF is trading sideways today, a tad above the 0.8699 level and trying to record its fourth consecutive red candle since failing to break above the 200-day simple moving average (SMA).
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XM Research - 6 days agoBearish

Technical Analysis – BTCUSD retreats from 1-month high

BTCUSD pulls back after touching the 70,000 mark The bears eye the 50-day SMA as next crucial target Momentum indicators are skewed to the downside BTCUSD (Bitcoin) had a very strong July, with the price reaching the 70,000 psychological mark for the first time in more than a month. Since then, it has been experiencing a downside correction, which is on track to test the 50-day simple moving average (SMA).
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XM Research - 6 days ago

Midweek Technical Look - GBPJPY, US 500, WTI

GBPJPY records fresh 3-month low, losing 4% from 199.40 US 500 rebounds off long-term ascending trend line WTI crude oil recoups significant losses, jumping above 200-day SMA
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XM Research - 6 days agoBearish

Technical Analysis – GBPJPY selling drama stretches below 200-EMA

GBPJPY’s massive sell-off continues, reaches 3-month low Short-term risk bearish but oversold conditions detected BoE policy announcement might influence GBP at 11:30 GMT   GBPJPY suffered another bold attack this week, giving back 8% of its value since its peak at a 16-year high of 208.09 on July 11. With downside pressures intensifying below the 200-day exponential moving average (EMA) today, more sellers could join the market.
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XM Research - 6 days ago

GBPAUD trades at 10-month high as BoE meets Aggressive upmove from the early July lows Stochastics close to sending a bearish signal GBPAUD is trading lower today, a tad below the 1.9672 level, and close to a 10-month high as the Bank of England meets today with strong chances of announcing a rate cut. It has been an impressive move higher from the early July lows as GBPAUD has completed 15 green candles in the past 16 trading sessions, partly on the back of concerns about the Chin
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XM Research - 6 days ago

AUDJPY trades at the lowest level since mid-March Yen benefits from the BoJ rate hike and currency interventions Momentum indicators support the current bearish move AUDJPY is in freefall, trading at the lowest level since March 15, around 11% below the all-time high of 109.36. This correction is unprecedented and caused by multiple currency interventions from the Japanese authorities and the BoJ announcing its second rate hike in the current tightening cycle.
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XM Research - 1 week agoNeutral

Technical Analysis – NZDUSD poised for bullish rotation

NZDUSD rotates higher after touching familiar support zone Technical signals increase the odds for upside reversal FOMC policy announcement might affect USD at 18:00 GMT   NZDUSD has had a terrible month, but a bullish rotation this week has brought hope that the bearish phase could be over. The pair changed direction and moved north after reaching April’s pivotal zone of 0.5850, creating a bullish engulfing candlestick pattern.
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XM Research - 1 week agoBearish

EURGBP fails to extend bullish actions MACD and RSI indicate upside movements EURGBP has been fighting with the short-term descending trend line over the last four sessions and it also had a spike towards the 50-day simple moving average (SMA) near 0.8460. The technical oscillators are showing some positive signs. The RSI is heading north marginally beneath the 50 level, while the MACD is extending its recovery above its trigger line, below the zero level.
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XM Research - 1 week agoBearish

Technical Analysis – USDJPY’s decline faces 200-day SMA

USDJPY extends its retreat from recent 38-year high The bears tested 200-day SMA for first time since January 9 Momentum indicators start to warn of oversold conditions USDJPY has been in a steady retreat from its 38-year peak of 161.94, falling to an almost three-month low on Wednesday. Meanwhile, the pair has reached a tipping point as it challenged the 200-day simple moving average (SMA) for the first time since January 9, where a downside violation could suggest the beginnin
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XM Research - 1 week ago

Technical Analysis – Gold fights with 2,420 level within Ichimoku cloud

Gold rebounds off 2,370 support Prices penetrate short-term downtrend line But momentum oscillators look overstretched Gold prices have been in a bullish corrective mode during the week, paring/reversing some of its losses from July 24. The price has now surpassed the short-term downtrend line and the simple moving averages (SMAs), testing the 2,420 level.
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XM Research - 1 week agoNeutral

Amazon stock experienced a pullback from its all-time high But the price found strong support ahead of Q2 earnings Momentum indicators are heavily tilted to the downside Amazon’s stock has been in a steady uptrend since late 2023, storming to a fresh record peak of 201.00 on July 8. Although the price corrected lower, falling victim of a broader tech selloff, it seems to have paused its retreat and recouped some losses ahead of its Q2 earnings announcement on Thursday.
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