In Asia, Japan will release the BOJ Monetary Policy Meeting Minutes. At the same time, the US will also release some economic data such as Loan Officer Survey, ISM Non-Manufacturing PMI, and Final Services PMI. So, there is a probability the USD/JPY pair will move with low to medium volatility duringthis day. TODAY’S TECHNICAL LEVEL: […]
CADJPY is approaching its resistance at 86.67 (61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal swing high resistance) where it is expected to reverse down to the support at 85.76 (50% Fibonacci retracement, horizontal swing low support). Stochastic (55, 5, 3) is approaching its resistance at 98% where a corresponding reversal is expected. CADJPY is approaching […]
The intensive forex trading seminar series launched by XM throughout Latin America has recently reached two more stops this October, the cities of San José in Costa Rica, and Cali in Colombia. The presentation of Jarek Duque, Chief Instructor for Latin America captured the undivided attention of an impressive number of online investors in each […]
Over the past 24 hours, the valuation of the crypto market has remained at $205 billion, mostly due to the stability of Bitcoin at $6,350. The gap between BTC/USDT (Tether) and BTC/USD has declined to around $50, with the Bitcoin-to-Tether pair being traded with a $50 premium. The announcement of Tether LLC’s new partner bank […]
The US labor market report (NFP) pointed to an increase in employment in October by 250,000, much more than the expected 200,000. September data has been revised down to 118,000 (from 134,000 previously) and both figures can be explained by disturbances caused by hurricanes. Traditionally, the main focus is on wage dynamics, which at 0.2% […]
We saw a very strong employment report from the United States, which naturally caused an increase in demand for the Dollar. Although this growth is still very modest (almost an hour USDX added just 0.2%), it is worth paying attention that the American economy with payrolls increase by 250K in October retains the trend growth […]
As the Bitcoin continues to trade sideways near $6,300, leading commentators declare they are “pleasantly surprised” with the market stability simultaneously changing their forecasts from “20k per BTC” by the end of 2018 to another 18 months of a bearish trend (BitMEX). It seems that now it is really very difficult to determine the future […]
Palladium reversed from support area Further gains are likely Palladium recently reversed up sharply from the support area lying between the key support level 1060.00 (which has been reversing the pair from the start of October) and the 38.2% Fibonacci correction of the previous sharp impulse wave from September. The upward reversal form the aforementioned […]
GBPUSD rising inside corrective wave 2 Further gains are likely GBPUSD continues to rise inside the sharp short-term corrective wave 2, which started earlier from the support area lying between the strong support level 1.2700 (which stopped the sharp downtrend in the middle of August) and the lower daily Bollinger Band. The price earlier broke […]
There is a rapidly growing interest in bitcoin and other cryptocurrencies among institutional investors while there seems to be lethargy in the number of retail buyers operating within the space. As such, bitcoin and altcoins now constitute a new institutional investment class since 2017, according to new research from major US bank Morgan Stanley. In […]
GOLD PRICES dropped $5 per ounce on news of stronger-than-expected US jobs growth on Friday, heading for the first weekly drop in 5 as world stock markets extended their bounce from October’s slump. Japan’s Topix index closed 3.9% higher from last Friday and Shanghai’s CSI300 added 3.7% after falling Monday back near October’s 28-month […]
The US midterm elections next week are widely expected to produce a split Congress. Investors appear somewhat complacent on the outcome, which allows room for notable market reactions in case of a surprise, like one of the parties taking control of both chambers. Below follows an analysis of the possible outcomes, the likelihood attached to […]
Trading recommendations: According to the H1 time – frame, I found that buyers are in control today on BTC. I have also found the breakout of the supply trendline, which is a sign to watch for buying opportunities. My advice is to watch for opening buy deals with upward targets at the price of $6.344 […]
Recently, the AUD/USD pair has been trading upwards. The price tested the level of 0.7258. Anyway, according to the M15 time – frame, I found the buying climax (wide spread bar in a ultra-high volume) in the background, which is a sign that buying looks risky. I have also found that up-thrust bar and the […]
Recently, Gold has been trading upwards. The price tested the level of $1,236.94. According to the H4 time – frame, I found a broken supply trendline in the background and an upward movement, which is a sign that buyers are in control and that selling looks risky. The MACD oscillator is trading up, which is […]
The oil market has had nearly six months to assess the possible effect of U.S. sanctions on Iranian oil exports. Surprisingly, the prospect of significantly tighter global supplies has resulted in lower prices. President Donald Trump announced on May 8 that he would end the participation of the United States in the Joint Comprehensive Plan […]
The Federal Reserve will be holding its first monetary policy meeting next week since US and global stocks posted a sharp corrective move from record highs. Investors will be looking for some sign from the Fed that it’s paying attention to the recent negative developments in financial markets. Australia’s and New Zealand’s central banks will […]
Here are the latest developments in global markets: FOREX: Dollar/yen eased to 112.81 but remained up on the day (+0.12%) after rising as high as 113.10 early in the European session as investors were looking for details to confirm that the US President and the Chinese leader will attempt to reach a trade agreement at […]
NZDJPY soared in recent sessions, before it met resistance near the crossroads of the 75.60 zone and its 200-day exponential moving average (EMA), and subsequently pulled back somewhat. The inability of the bulls to break above this crossroads suggests that the short-term outlook is still neutral, with a break above that zone needed to shift […]
On 22-23 October, XM participated at one of the most reputable financial exhibitions in the Middle East and North Africa, the Cairo Investment Expo, which took place in the Egyptian capital, Cairo. The prestigious event series, which XM was proud to be the Diamond Sponsor of, ranks among the largest of its kind in Egypt […]
The Germany 30 index advanced by roughly 600 points after hitting its lowest since December 2016 at 11,047.80 in late October. Moreover, the benchmark is looking set to record its seventh straight day of gains on Friday, having touched an 11-day high of 11,660.30 earlier in the day. Indicative of the bullish bias in the […]
Overview: Pivot point: 0.9951. The USD/CHF pair continues to move upwards from the level of 0.9951. Today, the first support level is currently seen at 0.9951, the price is moving in a bullish channel now. Furthermore, the price has been set above the strong support at the level of 0.9951, which coincides with the daily […]
On the weekly chart, the EUR/USD pair is demonstrating a high-probability Head and Shoulders reversal pattern where the right shoulder is currently in progress. On September 10, the price level of 1.1500 offered temporary bullish recovery. Quick bullish movement was demonstrated towards the upper limit of the price range (1.1750). However, the EUR/USD bulls failed […]
GBPJPY has reversed back up again after finding support at the 143.20 support level, achieved on Tuesday. Today, the pair reached a new 10-day high, continuing the sharp buying interest that started yesterday. Technical indicators seem to be strongly positive. The RSI stands in the overbought zone, while the MACD is strengthening its momentum above the trigger and […]
Overview: Pivot: 1.1422. The EUR/USD pair continues to move downwards from the areas of 1.1475 and 1.1422. Last week, the pair dropped from the level of 1.1475 to 1.1356. Today, resistance is seen at the levels of 1.1422 and 1.1475. So, we expect the price to set below the strong resistance at the levels of […]
Since September 13, the GBP/USD pair has been demonstrating a successful bullish breakout above the depicted daily downtrend line which came to meet the pair around 1.3025-1.3090. On September 21, the GBP/USD failed to demonstrate sufficient bullish momentum above 1.3296. The short-term outlook turned to become bearish within the depicted H4 bearish channel to test […]
Asian stock markets jumped in early trading Friday, reflecting investor relief about upcoming trade talks between China and the U.S., as well as the dollar‘s gains against a basket of major currencies including the yen. President Donald Trump on Thursday said he had a good talk with Chinese President Xi Jinping, and that trade talks […]
This week was the intersection between October and November. It was an important week for the market mostly because it brought the volatile month of October to an end. The chart below shows that the CBOE volatility index decreased after October ended. Trade Trader was an important topic this week. Yesterday, Trump revealed that he […]
The price of crude oil fell yesterday after a new report from OPEC revealed that its members were increasing production. The biggest gainers in the month were Saudi Arabia, United Arab Emirates, and Libya. This increase was in line with the increase in production from the United States. Yesterday, data from the EIA showed that […]
Here are the latest developments in global markets: FOREX: The dollar index dropped significantly on Thursday and is a little lower on Friday too (-0.15%). The world’s reserve currency likely suffered as investors locked in profits on their prior dollar-long bets, ahead of the all-important US employment data today. Meanwhile, the British pound skyrocketed, gaining […]
