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Latest Analysis

XM Research - 4 hours agoNeutral

EURAUD trades higher, partly reversing August’s correction It is has climbed above a key support level in an aggressive fashion Momentum indicators are turning mostly bullish EURAUD is trading higher today, experiencing its fourth consecutive green candle, after testing the 1.6250 level in late August. Peripheral currencies have been under pressure this week as the market is preparing for the next big events, starting with the non-farm payrolls figure later today.
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XM Research - 5 hours agoBearish

Technical Analysis – US 500 index could see further weakness

US 500 index posts negative days lately Next support at long-term rising trend line Momentum oscillators confirm bearish correction The US 500 cash index is recording the fourth straight negative session, losing more than 3%. The price is currently retreating beneath the 5,565 strong resistance level as well as below the 20- and the 50-day simple moving averages (SMAs).
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XM Research - 7 hours agoNeutral

Technical Analysis – USDCAD doubts September’s upturn

USDCAD trims September’s uptick to trade near key trendline Technical signals are mixed; a break below 1.3480 could shift the bias to the downside US & Canadian employment figures due at 12:30 GMT   USDCAD started Friday’s NFP session with soft negative momentum after a stagnant day, which prevented the pair from examining its weekly high of 1.3564. While the technical indicators have barely shown any improvement, there is still a chance for a positive turnaround as long
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XM Research - 9 hours agoNeutral

Technical Analysis – AUDUSD bounces off 0.6700 but looks weak

AUDUSD flirts with weekly downtrend line Stochastics create bullish cross But RSI holds near neutral level AUDUSD has reversed to the upside after the rebound off the 0.6700 round number with strong barrier coming from the weekly descending trend line around 0.6750. Over the last couple of weeks, the market has been developing back and forth of the aforementioned diagonal line, looking weak to change the outlook to a more positive one.
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XM Research - 1 day agoBearish

Nvidia loses August’s wins as recession risks resurface Short-term bias skewed to the downside; more sellers wait below 100.45   Nvidia’s stock has been suffering along with other key tech stocks in the face of renewed recession fears, which could harm AI growth perspectives, losing more than 10% during the previous days. According to pre-market trading, today’s session might be another struggle after the wide miss in the ADP employment data.
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XM Research - 1 day ago

Midweek Technical Look - EURUSD, US 500, oil

EURUSD rebounded off 1.1030 ahead of NFP data US 500 looks flat after aggressive losses WTI crude oil heads slightly up from 8-month low
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XM Research - 1 day agoBearish

Technical Analysis – USDCHF eyes August’s low as bears stay in charge

USDCHF trims latest rebound, holds bearish trend ahead of US data Short-term bias skewed to the downside; bears wait for a move below 0.8435   USDCHF has been stuck in a downward trend since April’s peak of 0.9223, unable to sustain any bullish corrections. More recently, following its bounce from an eight-month low of 0.8398, the price is once again subject to downward pressure.
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XM Research - 1 day agoNeutral

Technical Analysis – Bitcoin slides and hits the 56,200 support

Bitcoin has been declining since August 26 The bigger picture points to a broadening formation Oscillators imply further declines within the pattern BTCUSD has been sliding lately, after hitting resistance near the 64,700 zone on August 24 and 26. The crypto king dropped below the key support (now turned into resistance) zone of 61,600 and found support slightly below 56,200 yesterday.
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XM Research - 1 day agoBearish

Technical Analysis – GBPJPY continues selling interest below 190.00

GBPJPY stands beneath 200-day SMA Momentum oscillators look neutral-to-bearish GBPJPY has been in a considerably descending movement, losing around 3% after it topped at 193.50. The market is currently testing the 188.00 round number with the technical oscillator confirming strong bearish tendency in the short-to-medium-term view. The stochastic plunged into the oversold territory with strong momentum, while the RSI is sloping down below the neutral threshold of 50. Steeper declines c
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XM Research - 2 days agoBearish

Technical Analysis – WTI oil futures test critical support

WTI oil futures seek buyers around strong support trendline near 69.00 Short-term bias remains bearish; a bounce above 74.00 is needed     WTI oil futures edged up to 71.44 on news that OPEC members are discussing a potential delay in a planned output hike in October. Technically, the price rotated higher after marking a nine-month low of 69.17, near the important support trendline, which joins the lows from the end of May 2023. Recall that oil set a strong footing near that line
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XM Research - 2 days agoBearish

EURGBP rebounds off 0.8400 Price remains beneath SMAs RSI and MACD point up EURGBP is recovering somewhat after the plunge from the 200-day simple moving average (SMA) at 0.8545, losing 1.7%. The RSI is also trying to gain some ground beneath the 50 level, while the MACD oscillator's negative momentum is weakening beneath its trigger and zero lines.
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XM Research - 2 days agoNeutral

Technical Analysis – US 100 index under pressure

US 100 index drops, reversing the August rally Nvidia woes keep sentiment negative Momentum indicators are turning bearish The US 100 cash index is in the red again today, trading back below the 100-day simple moving average (SMA) and having surrendered half of its August gains. Nvidia’s underperformance is keeping the index under pressure with the market preparing for this week's key US labour market data releases and counting down to the September 18 Fed meeting.
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XM Research - 2 days agoBearish

Technical Analysis – USDJPY trapped in a gloomy trajectory

USDJPY drifts back below 147.00 area; tests support trendline Technical picture signals bearish trend continuation   USDJPY was unable to maintain its strength on Tuesday despite briefly surpassing the 147.00 level, as the 20-day exponential moving average (EMA) caused a retreat towards the support trendline from July 2023 at 144.75. The technical indicators cannot guarantee an immediate bullish rotation as the RSI has changed direction to the downside before reaching its 50 neutr
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XM Research - 2 days agoNeutral

Technical Analysis – Gold stands within sideways channel

Gold eases beneath near-term SMAs Stochastics post positive divergence MACD strengthens bearish momentum Gold prices have been developing within a trading range of 2,470 to 2,528 since August 16 with mid-level the 2,507 resistance, which overlaps with the 50-period simple moving average (SMA) in the 4-hour chart. Technically, the stochastic is moving higher, creating a positive divergence as long as the price creates lower lows and the oscillator posts higher highs.
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XM Research - 3 days agoBearish

Technical Analysis – GBPUSD takes a negative turn

GBPUSD starts a new bearish wave but maintains broad uptrend Technical signals reflect appetite for more selling; eyes on 1.3100   GBPUSD resumed its negative momentum during Tuesday’s early European trading hours, crossing below the steep support trendline, which had been curtailing the pullback from the two-and-a-half year high of 1.3265 over the past two trading days.
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XM Research - 3 days agoBearish

Technical Analysis – EURJPY eases from 38.2% Fibonacci

EURJPY may find significant resistance at 164.00 Rebound off 7-month low still holds RSI heads down below 50 level MACD recovers above its trigger line EURJPY is currently heading south following the unsuccessful battle with the 162.30 resistance level, which is the 38.2% Fibonacci retracement level of the down leg from 175.37 to 154.40. However, a more important struggle for the bulls could come at the 164.00 psychological level, which coincides with the 200-day simple moving
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XM Research - 4 days ago

Weekly Technical Outlook – USDJPY, USDCAD, AUDUSD

USDJPY aims to break above 20-SMA ahead of the NFP report. Will it be successful this time? USDCAD stops at 5-month low as the focus turns to the BoC rate decision AUDUSD hangs near 8-month high; Australian GDP is on the calendar   Nonfarm payrolls, ISM PMIs --> USDJPY USDJPY is looking for fresh buying as it is still striving for a close above the 20-day simple moving average (SMA) and beyond the 146.00 number.
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XM Research - 4 days ago

EURCHF edges higher, tests a strong resistance level The recent downward trend is still in place Momentum indicators confirm the prevailing bearish pressure EURCHF is trading higher today, testing the resistance set by the September 26, 2022 low at 0.9403 as the bulls are trying to counter the continued downward pressure that resulted in the all-time low of 0.9209 recorded on August 5. Market participants are potentially preparing for Tuesday’s inflation report from Switzerland,
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XM Research - 4 days agoBullish

Technical Analysis – USDJPY in bullish mode in very short-term

USDJPY rises above downtrend line MACD stands well above its trigger line 20- and 50-period SMAs post bullish cross USDJPY advanced considerably in the previous 4-hour session, surpassing the 146.50 barricade. Also, the 20- and 50-period simple moving averages (SMAs) posted a bullish crossover, and the technical oscillators are holding well above their mid-levels.
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XM Research - 4 days agoBullish

Technical Analysis – EURUSD pauses bearish correction near 1.1050

EURUSD recoups some losses Finds support near 20-day SMA Stochastics and RSI point north EURUSD is recovering somewhat after three consecutive red days from its 13-month high of 1.1200. The price is flirting with the 20-day simple moving average (SMA) and the 1.1050 support level, while the technical oscillators are showing some improvement.
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