Important Notice – Japanese General Election

We would like to inform our clients that considering our recent notification regarding the Japanese General Election, the margin requirements on all instruments have been automatically readjusted in accordance with the previous leverage settings of each of our clients’ trading accounts on financial instruments as of today, Monday 23rd of October 2017. All temporary measures […]

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For the ECB meeting, the euro is too strong

Eurozone The most important event of the upcoming week is the ECB meeting on Thursday, October 26. Investors expect that the regulator will finally announce a reduction in the asset purchase program, and the whole issue consists only in the volume of the reduction. At the moment, monthly purchases amount to 60 billion euros a […]

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Free Trading Seminar in Reggio Emilia

Our Forex trading seminar due to take place in Florence, Italy, will be soon followed by yet another free seminar in the city of Reggio Emilia on 9 December. We look forward to meeting with our existing and prospective clients who wish to attend XM’s free seminar on the premises of Hotel Remilia, where event […]

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Week Ahead – ECB tapering decision looms; BoC also meets; UK and US GDP eyed

The European Central Bank will take centre stage next week as it announces its long-awaited decision to scale back its asset purchase program. Central banks in Canada, Sweden and Norway will also be holding their monetary policy meetings. On the data front, the first estimate of third quarter growth in the UK and the US […]

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Forex Market Review (European Session) – Yen weakens ahead of Japanese elections; loonie falls sharply as retail sales miss expectations

As markets head into the weekend, investors during the European session were concentrated on political developments in Spain as well as on Brexit negotiations. Japanese snap elections would be also in focus on Sunday with the Yen showing some weakness on Friday. However, the Loonie was the worst performer out of majors today after retail sales and inflation figures came in worse than expected. […]

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Global macro overview for 20/10/2017

The headline reading, Retail Sales With Auto Fuel, was released at the level of -0.8% after 0.9% increase a month ago. The market consensus was at the level of -0.1.%. Moreover, the data indicated that the underlying pattern in the retail industry is one of growth; for the three-months on three-months measure, the quantity bought […]

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Global macro overview for 20/10/2017

The recent comments from Bank of Japan Governor Kuroda did not cause any substantial reaction on financial markets. During his today’s speech, he reiterated that weakness on the price front is going on and prices will rise towards 2%, so this was nothing new for market participants. In late September, Japanese Prime Minister Shinzo Abe […]

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BITCOIN Analysis for October 20, 2017

BITCOIN has been quite corrective after the recent impulsive bullish bounce off the $5,000 support area. The bullish trend is expected to push the price higher towards $6,000 price level but ahead of the upcoming November Bitcoin Split the price seemed to be correcting itself in the run to the upcoming volatility in the market. […]

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Technical analysis of USD/JPY for October 20, 2017

USD/JPY is expected to continue the upside movement. The pair is trading above its rising 20-period and 50-period moving averages, which play support roles and maintain the upside bias. The relative strength index is above its neutrality level at 50 and lacks downward momentum. To conclude, as long as 112.70 is not broken, look for […]

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Fundamental Analysis of USD/CHF for October 20, 2017

USD/CHF has been quite volatile with bullish gains and is currently trading inside the resistance area range between 0.9770 and 0.9860. USD has been quite positive amid economic reports recently which helped the US currency to gain over CHF and counter well. Recently, Switzerland’s Trade Balance report was published with an increased figure of 2.92B […]

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Is it a bird? Is it a plane? No it’s Angela Merkel

German Chancellor backs up UK PM May When you are down there is nothing like a friend who can give you a helping hand to give you a lift. Yesterday, Theresa May who is in a fight to save her job and keep her shattered Conservative Party together, got the support she greatly needed and […]

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Stock Market News (European Open) – Financials, basic materials on the rise in Europe; Japanese indexes at multi-year highs ahead of elections

In Asian markets, the Nikkei 225 and the broader Japanese index, the Topix, finished the day marginally higher, closing at their highest since October 1996 and July 2007 respectively. Hong Kong’s Hang Seng added 1.2% after yesterday’s sell-off and the Shanghai Composite rose by 0.3%. Australia’s S&P/ASX 200 advanced 0.2%. Japan will be going to […]

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Technical analysis of NZD/USD for October 20, 2017

Our first target which we predicted in yesterday’s analysis has been hit. NZD/USD is still uder pressure. The pair accelerated on the downside and is trading below its descending 50-period moving average. The relative strength index is below its neutrality level at 50. To conclude, as long as 0.7060 holds on the upside, look for […]

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Technical analysis of USD/CHF for October 20, 2017

Overview: The USD/CHF pair continues to move upwards from the level of 0.9744. Since the trend is above this level, the market is still in an uptrend. Furthermore, the trend is still strong above the moving average (100). The USD/CHF pair didn’t make any significant movements yesterday. Hence, the market is indicating a bullish opportunity […]

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Technical analysis of NZD/USD for October 20, 2017

Overview: The NZD/USD pair has dropped sharply from the level of 0.7067 towards 0.6972. Now, the price is set at 0.6985 to act as a minor suport. It should be noted that volatility is very high for that the NZD/USD pair is still moving between 0.7020 and 0.6900 in coming hours. Furthermore, the price has […]

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Diving into Traders Psychology, What is It and How to Use It

Trader’s psychology is a frequently used term, for good reason too – it is a collection of multiple characteristics that are important to be able to follow your trading strategy and achieve your investment goals. Let’s take a look at those characteristics:   Trader’s Psychology Trading Discipline Perspective Mental Fortitude Stress management Risk Management   […]

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Bitcoin analysis for 20/10/2017

BITCOIN analysis for 20/10/2017: On October 16, Ilan Goldfajn, president of the Central Bank of Brazil (Banco Central do Brasil), disregarded Bitcoin. He said: “Bitcoin is a financial asset without the ballast people buy because they believe it will grow. This is a typical bubble or pyramid.” Many huge jumps in value made Goldfajna’s unfavorable […]

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Trading plan for 20/10/2017

Trading plan for 20/10/2017: The US Senate approved the budget for 2018 yesterday. In the first reaction, EUR/USD fell from around 1.1850 to 1.18. USD/JPY shot up to 113.30 and GBP/USD went down at 1.31. US Dollar gains versus other majors without exception and in the Asian session, the weakest are JPY and NZD and […]

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U.K. Inflation Is at 5-Year Highs, but Why is the Pound Dropping?

British inflation is surging, and the Bank of England (BOE) is seriously considering raising interest rates sooner rather than later. So then why is the British Pound failing to pick up speed? The answer lies in Mark Carney’s latest warning on Brexit.   The U.K.’s consumer price index (CPI) reached 3% in the 12 months […]

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Technical Analysis – GBPJPY stuck in 2-week range under key 150 level

GBPJPY has been trading in a range during the past two weeks and is pivoting around the 20 and 50-period moving averages which are converging around the 148.50 level. This also happens to be the 38.2% Fibonacci retracement of the recent rally from 141.34 to 152.85. Support is expected at the 50% Fibonacci at 147.11. […]

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Forex Market Review (Asian Session) – Dollar faces tailwinds on 2018 fiscal budget approval; kiwi plummets as economic risks grow

The approval of a budget blueprint for the 2018 fiscal year, drove the dollar higher against its major counterparts on Friday in Asia, while the kiwi extended its losses in the face of economic uncertainties which might emerge under the new coalition government. Trump’s tax plan, which promises substantial tax cuts to businesses and individuals, is ready to move to the House […]

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Burning forecast 10/20/2017

Burning forecast 10/20/2017 The crisis of Catalonia played against the Pound – but the trend has not been reversed. We continue to buy the GBPUSD pair. On Thursday, the rate of the pound along with the Euro came under selling pressure. I believe that this is due not only because of the U.K.’s difficult negotiations […]

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Trading plan 10/20/2017

Trading plan 10/20/2017 Euro cannot determine the direction, but the traffic is close. The pair EUR/USD attempted to organize growth rate on Thursday, but for the third time in a week, it could not overcome the downward resistance line of the day order (the TD-line, or Tom DeMarck’s line, is marked by a thick line […]

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Fundamental Analysis of EUR/CAD for October 20, 2017

EUR/CAD has been impulsively bullish recently, heading upwards. CAD has weakened amid recent economic reports that helped EUR to gain momentum against. Today, German PPI report was published with a positive figure, showing an increase to 0.3% from the previous value of 0.2% which was expected to decrease to 0.1%. Besides, Current Account report is […]

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Ichimoku indicator analysis of USDX for October 20, 2017

The Dollar index reached the short-term 93 support level and bounces higher now. Price is in a short-term neutral trend as the index is mainly moving sideways between 94-93 levels. Blue line – resistance trend line Rectangle – support The Dollar index has reached the upper boundary of the 4-hour Kumo (cloud). 93.50 is the […]

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Ichimoku indicator analysis of gold for October 20, 2017

GOLD price stopped its recent rise from $1,277 support at the short-term resistance at $1,290. Price pulled back overnight towards $1,282 where the 61.8% Fibonacci retracement of the latest rise is found. As can be seen in the 30min chart above, price has stopped the decline at the 61.8% Fibonacci retracement. Short-term support is at […]

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U.S. Dollar Rises from the Ashes

After a disastrous year, the U.S. dollar has finally shown signs of real progress. Earlier this month, the U.S. dollar index (DXY) jumped to its highest level since August on political support and weakness from other major currencies. The dollar index, a measure of the greenback against a basket of six peers, reached a settlement […]

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October 20th, 2017: Markets Turn on New Zealand Leader

Morning Report: 07.00 London This morning, the New Zealand dollar remains on the back foot after heavy selling yesterday. Markets took an instant dislike to the nation’s new Labour leader, with the NZD/USD now down 2.55% on the week. The Yen continues to retreat ahead of the weekend’s Japanese elections, with the USD/JPY set to […]

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US Jobless Claims Lowest Since 1973

On Thursday, the US Department of Labor released Initial Jobless Claims for the week ending October 13th that showed a resilient and stable labor market. Initial claims fell 22K to a seasonally adjusted 222K – the lowest since March 1973. The data is now becoming more realistic as the impact of the recent Hurricanes is […]

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