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Latest Analysis

XM Research - 3 hours agoBearish

Technical Analysis – GBPUSD in the red for six weeks

GBPUSD hits a new two-month low as Trump wins White HouseShort-term outlook remains bearish; focus on 200-SMA for potential supportBank of England, Fed announce their rate decisions today GBPUSD took a sharp dive to a two-month low of 1.2833 on Tuesday as the return of Trumponomics gave fresh impetus to the greenback.On Wednesday, the 50% Fibonacci retracement level of the April-September rally came to support the market ahead of the BoE and Fed rate decisions, but with the price failing to hol
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XM Research - 4 hours agoNeutral

EURCHF trades in a tight rangeThe medium-term bearish trend is still validMomentum indicators prepare for the next leg EURCHF is edging higher today, testing the resistance set by both the 0.9394-0.9403 area and the May 27, 2024 downward slopping trendline. EURCHF has been trading in a tight range over the past few sessions, inside the developing contracting triangle pattern, as the bulls have failed to materially benefit from a barrage of positive euro area data.This reduced volatility is ref
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XM Research - 1 day agoBearish

Technical Analysis – Gold prices post bearish spike towards 3-week low

Gold loses ground but bullish phase intactMACD and RSI head southGold prices tumbled to a fresh almost three-week low of 2,701 but are currently recouping some losses, flirting with the 2,725 support level. A closing session beneath the 2,710-2,716 region could find strong support at the 200-period simple moving average (SMA) at 2,685. Steeper decreases may open the way for a bearish tendency in the short term, hitting the 2,673 bar.In the positive scenario, a return to the upside may take the b
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XM Research - 1 day agoNeutral

AUDUSD is well in the red todayStrong resistance set by the 200-day SMAMomentum indicators are mostly bearishAUDUSD is trading lower today, reacting to the news that former president Trump has probably secured a second term in the White House, with today’s price action almost entirely canceling out Tuesday’s upleg, which was caused by the hawkish RBA meeting.
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XM Research - 1 day agoBullish

Technical Analysis – USDJPY cheers as Trump leads election race

USDJPY hits fresh highs as Trump wins battleground statesResistance of 153.80-154.00 still in playUSDJPY soared to a new three-month high of 154.36 as Donald Trump won Pennsylvania, Georgia, and North Carolina. Technically, the pair found solid support near its 20-day exponential moving average (EMA), keeping its upward trend in safe place.That said, the day is not over yet, and the 153.40-154.00 barrier is still under examination.
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XM Research - 1 day agoBullish

Technical Analysis – US 30 index skyrockets after Trump’s victory

US 30 index extends upside move above SMAsStochastics and RSI turn upThe US 30 cash index is rallying more than 2% today during Trump’s victory in the US elections, sending the market towards the previous all-time high of 43,575.The technical oscillators are mirroring the latest strong bullish momentum, with the stochastic posting a positive
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XM Research - 2 days 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 days 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 - 2 days 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 - 2 days 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 - 2 days 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 - 3 days 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 - 3 days 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 - 6 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 - 1 week 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 - 1 week 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 - 1 week 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 - 1 week 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 - 1 week 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 - 1 week 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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