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Latest Analysis

XM Research - 12 minutes agoNeutral

Technical Analysis – Palladium futures bounce off multi-year low

Palladium switches to recovery mode after hitting a more-than-seven-year low   Price trades within bearish channel; a break above 1,038 is needed Palladium futures experienced a flash drop to 808.99, violating by a slight margin their 2024 range to hit the lowest point since May 2017 earlier this month. The slide, however, was temporary and the price soon rotated higher again to resume its previous neutral profile above February’s trough of 856. The 920 region has been a hurdle
XM Research - 5 hours agoBullish

Technical Analysis – EURUSD bulls don’t want to give up

EURUSD maintains sideways move as 1.0940 barrier blocks the way up Technical risk is on the positive side; eyes on 1.0970 too US PPI due at 12:30 GMT; FOMC member Bostic speaks today   EURUSD continues to face restrictions near the 1.0940 level and the resistance trendline from July 2023, which squeezed the price below a seven-month low of 1.1007 last week.
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XM Research - 5 hours agoBullish

Technical Analysis – GBPUSD battles with 50-day SMA

GBPUSD advances after its bounce off 200-day SMA A potential breach of 50-day SMA could improve outlook Oscillators suggest strengthening positive momentum GBPUSD had been on the rise following its deflection at the 200-day simple moving average (SMA) on August 8. After four consecutive daily green candlesticks, the pair is on track to reclaim its 50-day SMA as the momentum indicators are hinting at an improving positive bias.
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XM Research - 1 day agoBullish

US 500 cash index rebounds from 3-month low The price jumps above 50-SMA on the 4-hour chart Momentum indicators are tilted to the upside The US 500 stock index (cash) came under severe selling pressure last week, dropping to its lowest level since early May. However, the price seems to be in a recovery mode since its recent bottom, with the bulls reclaiming the 50-period simple moving average (SMA).
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XM Research - 1 day agoBullish

Technical Analysis – Gold on track to revisit all-time high

Gold advances after bouncing off 50-day SMA The bulls eye recent record high as next target Oscillators are cautiously tilted to the upside   Gold has been trading back and forth within a range in the past month, unable to adopt a clear directional impetus. In the near term though, the precious metal has been on the rise after meeting support at the 50-day simple moving average (SMA).
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XM Research - 4 days agoBearish

Technical Analysis – USDCAD bears take a break but are not done yet

USDCAD experiences worst week of the year Selling pressure might persist; eyes on 1.3730 Canadian employment figures due at 12:30 GMT   Since reaching a 22-month high of 1.3945, USDCAD has been steadily dropping towards its 50-day SMA at 1.3730, making it the worst-performing week of the year. The broken resistance trendline drawn from April's peak is now providing support in the market, although there is no certainty of a bullish rotation according to the technical indicat
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XM Research - 4 days agoNeutral

Technical Analysis – GBPJPY climb continues

GBPJPY is edging higher today, recording another green session It remains around 10% below its recent peak Momentum indicators acknowledge this bullish reaction GBPJPY is edging higher again today, recording its third consecutive green candle and recovering by around 4% above its August 5 low. The market has settled down a bit following the recent rout, with GBP recovering a tad after the recent BoE rate cut.
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XM Research - 5 days ago

Midweek Technical Look – GBPUSD, NZDUSD, Oil

GBPUSD retains bearish bias as key support region comes under the spotlight NZDUSD charts bullish double bottom pattern as RBNZ rate decision awaited  WTI oil futures rotate higher after touching important pivot area  
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XM Research - 5 days agoNeutral

Technical Analysis – Does the recent EURJPY correction have legs?

EURJPY is hovering around the 159.64 level It is trading around 9% lower from its recent high Momentum indicators are mixed, all eyes on stochastics EURJPY is trading lower today, close to the 159.64 level and considerably above the August 5 low of 154.38. The market is clearly trying to find its footing following the recent rout that was triggered by the bigger-than-expected rate hike by the BoJ and fears about an imminent US recession.
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XM Research - 6 days ago

Technical Analysis – NZDUSD jumps aggressively higher

NZDUSD records a sizeable green candle today Strong reaction following the recent acute correction Momentum indicators are mixed, bearish pressure weakening NZDUSD is edging aggressively higher today, cancelling out a good part of the recent correction that led to a new 9-month low. The overall positive market sentiment and the stronger labour market data from New Zealand during the Asian session have helped NZDUSD climb higher as the RBNZ is preparing for next week’s rate-settin
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XM Research - 6 days agoNeutral

Gold meets familiar support area near 200-SMA Technical signals reflect persisting caution A close above 2,394 could boost positive momentum   Gold has been squeezed between its 200-period simple moving average (SMA) at 2,385 and the broken support trendline from February 2024 at 2,393, which switched to resistance, over the past couple of hours.
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XM Research - 6 days agoNeutral

Technical Analysis – USDJPY begins a healing process

USDJPY gears up after 7-month low Recent sharp sell-off looks overdone Bulls hope for a close above 146.58 to continue higher   USDJPY showed signs of life on Wednesday, forcefully bouncing above the 144.57 bar that had limited Tuesday’s gains following the flash spike to 146.35. There is still a chance for sellers to reverse today’s bull run since the RSI and stochastic oscillator have not moved out of the bearish area.
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XM Research - 1 week 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 - 1 week 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 - 1 week 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 - 1 week 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 week 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 - 1 week 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 - 2 weeks 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 - 2 weeks 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.

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