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Latest Analysis

XM Research - 3 hours ago

Technical Analysis - EURGBP flirts with key support territory

EURGBP tumbles, but finds support near 0.8400 RSI and MACD detect bearish momentum But a break below 0.8380 is needed for further declines A move above 0.8500 could keep the picture neutral EURGBP has been in a steady slide since August 8, when it hit the key resistance zone of 0.8625. That said, the pair is currently flirting with the all-important support area of 0.8380-0.8400, a break below which may be needed for the near-term outlook to clearly be considered bearish.
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XM Research - 9 hours ago

Midweek Technical Look - GBPUSD, gold, oil

GBPUSD weakens its momentum slightly beneath the 2½-year high Gold battles with record high; still above 2,500 WTI crude oil erases some losses but has lots of room for improvement
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XM Research - 10 hours agoBullish

Technical Analysis – AUDUSD unlocks new 8-month high above 0.6800

AUDUSD increases 7% in August 20- and 50-day SMAs post bullish cross Stochastic in overbought region RSI still beneath 70 area AUDUSD hit a new eight-month high above the 0.6800 round number, breaking the long-term descending trend line to the upside. Following the bearish spike on August 5, the pair gained over 7%. Technically, the 20- and 50-day simple moving averages (SMAs) are ready for a bullish crossover.
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XM Research - 1 day ago

Technical Analysis – NZDUSD still bullish but rally looks overstretched

NZDUSD is up almost 5% so far in August Further gains are likely, but risk of near-term correction is high   NZDUSD is trading near seven-month highs on Wednesday, as the pair continues its August bull charge. However, there appears to be some resistance in the 0.6250 area where the intersecting long-term descending trendline is providing additional friction.
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XM Research - 1 day agoBullish

Technical Analysis – Gold flirts with short-term uptrend line

Gold lies within near-term SMAs Momentum oscillators head down Gold unsuccessfully tested the all-time high of 2,531.66 again today, but it is still above the 2,500 round number and the short-term uptrend line. Currently, the price is challenging the 20- and 50-period simple moving averages (SMAs) in the 4-hour chart, with the technical oscillators showing some weakening momentum.
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XM Research - 1 day agoBearish

Technical Analysis – USDJPY gets assistance from 143.40 support

USDJPY retains bearish bias MACD and RSI try to gain some momentum 23.6% Fibonacci acts as strong resistance USDJPY is continuing its descending movement, especially after the failed attempt to jump above the uptrend line and the 38.2% Fibonacci retracement level of the down leg from 161.94 to 141.60 at 149.50. As the market remains beneath the 23.6% Fibonacci of 146.45 and the 20-day simple moving average (SMA), there is no notable sign for an upside retracement.
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XM Research - 2 days agoBullish

Technical Analysis – Will AUDUSD continue its bullish wave trend?

AUDUSD holds in tight range near its recent high RSI and MACD point down AUDUSD has been stuck within a range bound pattern in the near term defined by the 0.6794 and 0.6760 levels, although the price has been maintaining a bullish tendency since the beginning of August. However, the technical oscillators suggest a potential downside retracement.
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XM Research - 2 days agoNeutral

Technical Analysis – GBPUSD: Is the next downturn approaching?

GBPUSD’s bull run slows down near a familiar resistance area Some stability is likely; sellers need a close below 1.3188 to gain control   GBPUSD opened the week with marginal losses after its almost uninterrupted two-week rally was rejected near the key resistance trendline at 1.3229 for the third time. While the bulls are trying to make a comeback today, the RSI and Stochastic oscillator are both flatlining in the overbought zone, indicating a high risk of a downside correction
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XM Research - 2 days agoBullish

US 500 cash index holds above Ichimoku cloud Bullish wave started from 5,090 Stochastic turns higher The US 500 cash index has been travelling near the all-time high of 5,673.39 over the last few sessions, successfully surpassing the Ichimoku cloud, the short-term simple moving averages (SMAs) and the long-term uptrend line. In the event the price stays resilient above the 5,565 support, the bulls might push for a close above the record peak and create another higher high.
XM Research - 2 days agoBearish

Technical Analysis – EURJPY develops beneath 200-day SMA

EURJPY lost 12% from multi-year high Short-term bias skewed to the upside, but caution needed EURJPY remains under pressure, and risk is still on the downside as prices continue to drift lower after the failure attempt to climb beyond the 200-day simple moving average (SMA) at 164.00. In the bigger picture, EURJPY has lost around 12% from the multi-year high of 157.37 to the seven-month low of 154.40. Prices rebounded off the 160.35 support level, but based on technical oscillators,
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XM Research - 3 days agoBearish

USDJPY falls to three-week low after Powell confirms shift to rate cuts Latest decline looks overdone; support at 143.40   USDJPY has been trending to the downside after completing a bearish rising wedge in the four-hour chart, and Powell’s dovish speech at Jackson Hole further strengthened selling incentives on Friday, pressing the price to a three-week low of 143.43. The 143.40 region was a key constraint to downside movements at the start of the year and could again protect the m
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XM Research - 3 days agoBullish

Technical Analysis – Gold creates new bullish wave near record high

Gold rises above short-term SMAs Stochastics turn down MACD and RSI still have positive momentum Gold prices are rallying higher, with the prospect of reaching the record high of 2,531 again. More advances may find resistance at the next round numbers of 2,600 and 2,700. However, the technical signals are mixed. The stochastic oscillator is heading south from the overbought region; however, the RSI is ticking higher, approaching the 70 level.
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XM Research - 3 days ago

Weekly Technical Outlook – US dollar index, EURUSD, USDJPY

US Core PCE index could attract greater attention with an impact on dollar index Eurozone flash CPI closer to ECB’s target; EURUSD unlocks 1.1200 Japan’s Tokyo CPI might stay put; USDJPY heads south US core PCE inflation --> US dollar index   The release of the US Core PCE price index for July this Friday will provide crucial insights into the underlying inflation trends.
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XM Research - 3 days agoNeutral

Technical Analysis – EURUSD eyes 2023 top after quick rally

EURUSD returns to positive trend after Powell confirms dovish policy adjustment Technical signals reflect weakening positive bias; next resistance could be at 1.1240-1.1274   EURUSD has had a great August so far, rising sharply from 1.0776 to nearly 1.1200 to mark its best monthly performance since November 2022. The pair violated a bearish engulfing candlestick pattern after refusing to close below 1.1100 on Friday, increasing optimism that the rally might have more room to run. 
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XM Research - 6 days agoNeutral

GBPUSD loses momentum near the critical 2023 bar of 1.3141 Bulls could seize another opportunity before bears take control   GBPUSD has been making strong efforts to hold within the tight bullish channel over the past couple of hours following a speedy run towards the July 2023 top of 1.3141. A bearish breakout could be possible in the short-term as the RSI and the MACD take a negative turn.
XM Research - 6 days agoNeutral

Technical Analysis – US 100 index sits at key level

US 100 index exhibits bearish tendencies but stabilizes near 50-SMA Technical risk is two-sided as Powell prepares for his Jackson hole speech( 14:00 GMT) Bulls hope for a close above 19,880; bears need a drop below 19,350   The US 100 stock index came under pressure on Thursday after a downward revision in the US non-farm payrolls revived fears of a slowing US economy.
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XM Research - 6 days agoNeutral

Technical Analysis – USDCAD still fights with 1.3600

USDCAD repeatedly tests the 200-day SMA Momentum oscillators are mixed USDCAD has been battling with the 1.3600 round number and the 200-day simple moving average (SMA) over the last couple of days. A successful break beneath these critical levels could open the way for a downside retracement in the medium-term. The technical oscillators are showing some contradictory signs.
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XM Research - 6 days agoNeutral

Technical Analysis – GBPJPY’s recovery stalls at 200-day SMA

GBPJPY attempts to recover from recent 8-month low But the rebound falters after testing 200-day SMA RSI and MACD remain tilted to the bearish side   GBPJPY experienced a vast selloff in July, dropping from a 16-year peak of 208.10 to as low as 180.07 on August 5, which is also an eight-month low. Since then, the pair has been in a recovery mode, but its rebound seems to have paused for now at the 200-day simple moving average (SMA).
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XM Research - 1 week agoBullish

Technical Analysis – JP 225 index: Is there more upside on the horizon?

JP 225 index reclaims August’s loss Short-term risk is on the positive side Will the bulls breach the 38,600-39,950 area too?   Japan’s 225 stock index (cash) is trading with soft positive momentum on Thursday for the second consecutive day, hitting a three-week high of 38,421. The index has  reversed more than half of its July-August freefall and there could be more bullish potential as the technical risk remains skewed to the upside.
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XM Research - 1 week agoNeutral

CHFJPY looks neutral in short-term Momentum oscillators suggest upside move CHFJPY is flirting with the 200-day simple moving average (SMA) above the 171.00 mark, which acted as a strong resistance level in the preceding days. The stochastic oscillator is opening the way for a test of the overbought area, while the RSI is moving higher below the neutral threshold of 50. Immediate resistance to more increases could come from the inside swing low on July 25 at 172.20 before rallying towa
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