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Latest Analysis

XM Research - 1 hour agoNeutral

Technical Analysis – BTCUSD challenges resistance at 20-SMA

BTCUSD capped by its 20-period SMA at 68,625.Price trapped in short-term bearish channelA surge above 70,000 could shift the bias to positiveBTCUSD (Bitcoin) has been sailing in choppy waters since the peak at a seven-month high of 73,609 recently finding a footing at the lower boundary of a bearish channel in the four-hour chart.As Election Day unfolds in the US, there’s growing speculation that a potential Trump victory might provide a tailwind for cryptocurrencies.
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XM Research - 2 hours agoBullish

AUDUSD claims 0.6620 zone after fast rallyShort-term bias positive, but there are more threats higherStochastics and RSI in bullish modeAUDUSD has been gaining some ground over the last week, testing the 0.6620 resistance level. The price managed to surpass above the 20- and 50-period simple moving averages (SMAs) in the 4-hour chart with the momentum oscillators experiencing an upside movement.
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XM Research - 6 hours agoNeutral

Technical Analysis – EURUSD makes soft positive start on US election day

EURUSD eyes breakout above 1.0880-1.0900 for further gainsRecent rebound is not enough to upgrade short-term outlookA strong rally above 1.1000 needed for bulls to seize controlEURUSD kicked off the US election day on a cautiously positive note, aiming to cross above the 1.0880-1.0900 border that has been capping bullish momentum over the past three sessions.
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XM Research - 8 hours agoBullish

Technical Analysis – US 500 index recoups some losses in short-term

US 500 index rebounds off 50-day SMARSI and MACD weaken their momentumThe US 500 index has paused its bearish correction near the 5,720 support level and the 50-day simple moving average (SMA).The price is currently standing beneath the short-term uptrend line, with the technical oscillators indicating weakening momentum. The RSI is moving sideways beneath the neutral threshold of 50, while the MACD is heading south below its trigger line and near the zero level.In case of steeper decreases, it
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XM Research - 8 hours agoBullish

Technical Analysis – EURJPY builds base above 200-day SMA

EURJPY attempts to rebound from 50.0% FibonacciFaces rejection at 3-month high but remains positiveMomentum oscillators remain cautiously titled to the upsideEURJPY is still standing above the 200-day simple moving average (SMA) and the 50.0% Fibonacci retracement level of the downward wave from 175.37 to 154.40 at 164.80. The market added more than 7% after the pullback from the 155.15 support level, creating a bullish tendency in the short term.Technically, the MACD is moving above its trigge
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XM Research - 1 day ago

Weekly Technical Outlook – USDJPY, EURUSD, GBPUSD

The US election is here! Will USDJPY continue its upward momentum?EURUSD takes a U-turn before the Fed's policy announcementGBPUSD stays trapped below 1.3000 as the BoE rate decision looms2024 US election --> USDJPY November 5 will be a sleepless day in the US as voters will finally head to the polls to elect the next president. The battle between the Republican Donald Trump and the Democrat Vice-President Kamala Harris has been hanging in the balance, and any outcome is possible, despi
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XM Research - 1 day agoNeutral

Technical Analysis – Gold is in anticipation mode

Gold is trading sideways, well below its recent highVolatility remains elevated ahead of the US electionMomentum indicators remain mostly bullishGold is trading sideways today and thus failing to forcefully react to the two negative sessions that pushed it well below its all-time high of 2,790. Month-end portfolio reallocations and profit taking could explain last week’s price movements, with the market now preparing for Tuesday’s US presidential election.
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XM Research - 4 days agoBearish

Technical Analysis – WTI crude oil recoups bearish gap

WTI crude oil runs to 71.00 critical level near downtrend lineMomentum oscillators reflect positive biasWTI crude oil prices recovered the bearish gap that was created in the preceding week and is currently testing the medium-term downtrend line near 71.00.The price has added more than 6% over the last couple of days with the technical oscillators mirroring the latest upward wave.
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XM Research - 5 days ago

Midweek Technical Look – EURJPY, US 500, Gold

EURJPY tumbles from 3-month high ahead of BoJ policy meetingUS 500 posts notable losses near 5,800Gold slips from all-time high but remains above ascending channel
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XM Research - 5 days agoBearish

US 500 index stands below 20-day SMAMACD and RSI lose momentumThe US 500 (cash) index is tumbling beneath the 5,830 region, approaching the short-term uptrend line, which has been drawn since the beginning of August. A plunge below this line could send traders towards the 50-day simple moving average (SMA) at 5,740 before meeting the restrictive re
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XM Research - 5 days agoNeutral

Technical Analysis – Could the AUDUSD selloff pause temporarily?

AUDUSD is trading sideways, a tad above 0.6547The downtrend from the September 30 high remains in placeMomentum indicators are mostly bearishAUDUSD is trading sideways today, a tad above 0.6547. The bearish trend from the September 30 peak remains firmly in place, and, quite interestingly, AUDUSD bulls have failed, up to now, to stage an upleg and temporarily interrupt the ongoing selloff.
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XM Research - 6 days agoBullish

Technical Analysis – USDCAD rallies near 22-month peak

USDCAD in massive bullish run this monthMACD and RSI hold in overbought areasUSDCAD added more than 3% so far this month, posting an incredible bullish rally with no notable bearish waves. The price is currently approaching the previous 22-month high of 1.3947 with the next resistance taking place at 1.3975, achieved in October 2022. Steeper bullish run could take the market until the 1.4100 psychological level, registered in February 2016. But traders need to be cautious at the 1.4000 handle fi
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XM Research - 6 days agoNeutral

Technical Analysis – Gold rallies ahead of key US events

Gold is trading higher again todayVolatility is high ahead of key US data printsMomentum indicators remain bullishGold is trading higher again today, recording a new all-time high, following a very strong performance on Tuesday. This move could be attributed to the dollar being slightly on the back foot today, but, most likely, the incoming key US data releases and the market’s angst regarding next week’s events are the main reasons for the latest upleg.
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XM Research - 6 days agoBullish

Technical Analysis – USDJPY struggles to destroy 61.8% Fibo at 153.40

USDJPY tests 3-month high again and againRemains well above 200-day SMAStochastic and RSI look overboughtUSDJPY is failing to have a closing session beyond the 61.8% Fibonacci retracement level of the down leg from 161.94 to 139.56 at 153.40 but is creating bullish spikes towards the three-month high of 153.90.The pair remains well above the 200-day simple moving average (SMA), but the momentum seems to be weak.
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XM Research - 1 week agoNeutral

US 100 index trades sideways ahead of key US data printsIt continues to battle with the October 26, 2023 trendlineMomentum indicators are less bullish at this stageThe US 100 cash index is moving sideways again today, as market participants are preparing for this week’s key US data releases and earnings reports. The bullish trend since the August 5 low remains firmly in place, supported by a series of higher highs and higher lows, with the October 26, 2023 ascending trendline proving to be str
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XM Research - 1 week ago

Weekly Technical Outlook – EURUSD, USDJPY, EURGBP

NFP report may shake the markets as EURUSD battles with 1.0800BoJ interest rate may remain steady; USDJPY rises to 3-month highEurozone flash CPI may fail to help EURGBP to recoverUS NFP report --> EURUSDThis week’s US data will provide an update on the US economy and inflation ahead of the Fed's November policy decision.The October nonfarm payrolls report will be the highlight of the week.
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XM Research - 1 week agoNeutral

Technical Analysis – GBPUSD moves horizontally within 1.2900 – 1.3000

GBPUSD loses momentum near uptrend lineStochastic ticks higher, but RSI flattensGBPUSD headed south in the preceding week, breaking the long-term ascending trendline to the downside. However, the pair is currently holding within a tight range after failing to extend the bearish tendency, but there is strong resistance at the 1.3000 round num
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XM Research - 1 week agoNeutral

Technical Analysis – EURUSD halts decline but downside risks persist

EURUSD turns flat around 1.0790But momentum indicators stuck deep in bearish territoryEURUSD has steadied around 1.0790 after its rebound from the 16-week low of 1.0760 faltered. However, whilst there is slight positive energy on Monday, with the price inching higher, the momentum indicators are overwhelmingly within the bearish zone. Nevertheless, the selling pressure appears to be easing and a bullish reversal is possible in the near term as the RSI has flatlined just above the oversold level
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XM Research - 2 weeks agoNeutral

Technical Analysis – AUDUSD: Will September’s bullish vibes return?

AUDUSD tests support area near 200-day SMAShort-term bias remains on the negative sideAUDUSD has been on a downward slide again, marking its fourth consecutive week in the red. It recently dipped to a two-month low of 0.6612 but held above the 200-day simple moving average (SMA) and the constraining falling line from February 2023, which increases speculation as to whether the sell-off is finally hitting a bottom.Remember back in September when those support lines gave the price a nice boost?
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XM Research - 2 weeks agoBullish

Technical Analysis – USDCAD still near the almost 3-month high

USDCAD adds 3.4% from 1.3420Remains well above the SMAsMACD and RSI indicate overbought levelsUSDCAD has been creating a notable bullish rally since the bounce off the 1.3420 support level, taking the price to an almost three-month high of 1.3868. The pair added 3.4% on this rally, trying to switch the medium-term outlook to positive.Technically, the RSI is moving horizontally near the 70 level, while the MACD oscillator is losing some momentum above its trigger and zero lines.
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