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Latest Analysis

XM Research - 14 hours 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 - 15 hours 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 - 17 hours 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 - 17 hours 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 - 4 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 - 4 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 - 4 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 - 4 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 - 5 days 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 - 5 days 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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XM Research - 5 days agoBearish

Technical Analysis – WTI futures fall to a 7-month low

WTI futures drop to their lowest level since January 17 Momentum indicators are heavily tilted to bearish side   WTI oil futures (October delivery) have been in a steady retreat following their rejection at the 200-day simple moving average (SMA) in mid-August. On Wednesday, the price fell to a fresh seven-month low before finding its feet a tad above the 70.00 psychological mark.
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XM Research - 5 days agoBullish

Technical Analysis – AUDUSD loses some positive momentum

AUDUSD gains more than 6% after bottoming at 0.6350 Immediate resistance near long-term downtrend line Technical oscillators suggest bearish correction AUDUSD has posted an impressive bullish rally after the bearish doji candle on August 5, adding more than 6%. The price has overcome the simple moving average lines and is currently slightly below the weekly downtrend line, which represents the highs from January 2023. However, the technical oscillators indicate a downside retracem
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XM Research - 6 days agoNeutral

Technical Analysis – US 30 index loses steam near July’s barrier

US 30 recoups losses but cannot resume uptrend Short-term bias is positive; confirmation awaited above 40,900 FOMC meeting minutes due at 18:00 GMT   Following a downturn at the beginning of the month, the US 30 index (cash) has made a strong comeback, although it encountered obstacles in surpassing the 40,900 threshold on Tuesday.
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XM Research - 6 days agoBullish

Technical Analysis – EURUSD bulls stay in charge

EURUSD extends rally, hits 1.1130 But oscillators point to fading momentum A setback may be possible before the next leg north EURUSD has been in a steady rally since August 15, when it hit support at 1.0950, and it is currently testing the key resistance zone of 1.1130, a zone that stopped the bulls from heading further north back in December, as well as back in July, 2023. Overall, the pair is trading above a short-term uptrend line drawn from the low of August 2, and well above
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XM Research - 6 days agoNeutral

Technical Analysis – Gold bulls may rest after record high

Gold pulls below record high; might give up more ground Market trend stays positive as long as price holds above 2,463   Gold lost momentum after unlocking an all-time high of 2,531 on Tuesday near the rising constraining line drawn from July’s low, but it maintained its resilience above the 2,500 psychological number by the end of the day.
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XM Research - 6 days agoBullish

EURGBP rebounds off 0.8510 Prices remain above downtrend line RSI and MACD above their mid-levels EURGBP looks to be creating a floor around the 0.8510 support level, with s strong obstacle coming from the 200-day simple moving average (SMA) near 0.8545. The pair is developing above the downtrend line but still needs some boost to confirm the bullish structure in the short-term view.
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XM Research - 6 days agoBullish

Technical Analysis – NZDUSD hits fresh 2-month high

NZDUSD stages a V-shaped recovery from 2024 low The pair jumps above 200-day SMA to its highest since June 14 Oscillators improve notably, suggesting increasing bullish bias NZDUSD has been steadily regaining ground since the beginning of the month after finding its footing at a fresh 2024 low of 0.5848. In the near term, the pair sliced through its 200-day simple moving average (SMA) to post a fresh two-month high on Wednesday.
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XM Research - 6 days agoBearish

Technical Analysis – USDJPY rises but still in negative territory

USDJPY remains below 200-day SMA and uptrend line RSI ticks higher reflecting the latest move USDJPY is gaining some ground after three consecutive red days and losing around 3% from the 149.50 resistance level. The market has been trading beneath the long-term ascending trend line since the downfall at the beginning of August and more importantly is holding below the 200-day simple moving average (SMA).
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XM Research - 6 days agoBullish

Silver’s bull run continues; brings 30 level under the spotlight   There is opportunity for more progress; positive outlook expected above 31.20   Silver entered a new bullish phase after hitting a three-month low of 26.43 at the start of August, rising as high as 29.86 on Tuesday. The white metal surpassed its simple moving averages (SMAs) in the daily chart and is also set to close significantly above its 20-SMA in the weekly chart too, which has been cooling upside movements
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XM Research - 1 week agoBearish

Technical Analysis - Why do oil prices post notable losses?  

Oil prices have decreased lately as a result of various crucial factors Technical Outlook confirms bearish structure Global economic concerns The global economy is encountering substantial difficulties, especially in prominent economies such as China and Europe. China's economic expansion has experienced a deceleration below initial projections, resulting in a decrease in industrial operations and a decline in oil demand.
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