Daily Market Comment – Gold finds dip buyers, oil begins to fill OPEC gap

Gold refuses to decline as central bank demand remains in play Drop in oil prices hits Canadian dollar, Tesla earnings disappoint Focus turns to onslaught of Fed speakers and Japanese inflation  Gold defends key region There wasn’t much in the way of news catalysts to steer global markets yesterday, leaving capital flows and risk appetite […]

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XM Taipei Seminars Strike Again – Join Us for Free

We’re returning to Taipei with another exciting seminar on May 21 2023. Join our free seminar on how to use swing trading to trade in a recession. Keep reading to learn more. Fan-favourite Lewis Huang, founder of the OPAS Trading School, is back and ready to teach a new class of traders. This time it’s […]

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Technical Analysis – AUDUSD extends sideways move amid diverging signals

AUDUSD had been trending lower within a downward sloping channel after peaking at 0.7157 in early February. Although the pair managed to break above this bearish pattern, it has been directionless since then, with the recent completion of a death cross between the 50-day simple moving average (SMA) and the 200-day SMA inducing negative pressures. However, the short-term oscillators are […]

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Technical Analysis – JP225 index advance stalls; bears prepare for a comeback

The JP225 cash index is edging higher today, but the aggressive rally recorded since March 15 appears to have stalled at the 28,650 area. The current price action is a repeat of the early March movement when the bulls failed to close above the aforementioned area, prompting an around 8% sell-off to 26,457. On face […]

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Technical Analysis – GBPJPY meets upper border of ascending channel

GBPJPY gained extra positive momentum on Wednesday to peak at a five-month high of 167.96 and near the upper boundary of a bullish channel. The price was trading slightly weaker during Thursday’s European trading hours, increasing speculation that a new bearish wave may soon start within the channel as the RSI and the Stochastic oscillator seem […]

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Technical Analysis – Gold flirts with 2,000 and remains bullish

Gold recently rebounded off the short-term uptrend line and near the 1,980 significant support. The price is currently testing the 20-period simple moving average (SMA) near the 2,000 round number with the technical oscillators confirming an advance. The RSI is pointing upwards around the neutral threshold of 50, while the MACD is holding above its trigger line […]

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XM to Participate at the Finance Magnates Africa Summit

We’re thrilled to be attending Finance Magnates’ upcoming Africa summit FMAS:23, as Diamond Sponsor. This marks the first time Finance Magnates is bringing its world-class event to Africa, which is why the summit is tipped to be one of the largest B2B and B2C gatherings in the region. Our team in South Africa will be […]

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Technical Analysis – EURUSD traders appear willing to extend the uptrend

EURUSD went into retreat mode last week, after it hit resistance slightly above the key resistance zone of 1.1035, marked by the peak of February 2. However, just yesterday, some buyers were interested in picking up the pair again and taking it closer to that territory. Overall, EURUSD is trading above the uptrend line drawn […]

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TSMC set to report earnings drop as chip demand slows – Stock Market News

The world’s leading chip producer, Taiwan Semiconductor Manufacturing Company, will report quarterly earnings on Thursday, April 19th. With the AI revolution being all the rage lately, these results will serve as a bellwether for the entire chip industry. Earnings are expected to have declined from last year, but that might not scare investors as it […]

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Technical Analysis – Tesla stock stuck in rectangle pattern ahead of earnings

Tesla’s stock had experienced a massive downtrend since September before recouping some losses in the beginning of 2023. In the short term, the share price has been moving without clear direction within a rectangle pattern, awaiting the crucial earnings report later on Wednesday for directional impetus. The momentum indicators are promoting a bearish outlook. Specifically, […]

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Eurozone PMIs eyed as ECB ponders size of next rate hike – Forex News Preview

Having defied recession predictions, the Eurozone economy will attract some headlines on Friday when the latest flash PMI readings are due (08:00 GMT). Growth in the euro area has been slowly gaining momentum since late 2022 when the impact of the energy crisis started to dissipate. But there are some doubts as to how strongly […]

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Weekly Technical Analysis – EURUSD, USDJPY, NZDUSD

The highlights on the remainder of this week’s agenda could be the Eurozone PMIs, as well as the Japanese and New Zealand CPIs. So, traders are likely be interested in how EURUSD, USDJPY and NZDUSD may react. Eurozone PMIs -> EURUSD On Friday, euro traders will be looking in the business surveys for clues as […]

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Daily Market Comment – Sterling leaps higher after inflation stats, yen in trouble

Hot UK inflation print adds fuel to BoE rate bets, lifting pound Yen gets scorched by revival in US yields, but dollar can’t rally Stock markets in cheery mood ahead of Tesla earnings today Sterling capitalises on inflation scare  The British pound was in a jolly good mood on Wednesday after the nation’s latest inflation […]

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Technical Analysis – US 100 cash index edges lower; all eyes on the stochastic

US 100 cash index is edging lower today as the bulls appear to be taking a breather following a decent move higher since the March 13 low. Their attempts to break the 13,206 level during April have failed, prompting a potential rethink of their strategy. Consequently, market volatility has been dropping with the Bollinger Bands […]

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Technical Analysis – USDJPY slices through 50-day SMA

USDJPY had been trending lower since its upward sloping channel broke to the downside in early March. However, the pair crossed above its 50-day simple moving average (SMA) following the strong rebound from its March lows, which has temporarily stalled at the upper Boundary of the Ichimoku cloud. The momentum indicators currently suggest that bullish […]

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Technical Analysis – NZDUSD range bound ahead of quarterly CPI

NZDUSD got another rejection near the 0.6300 round-level last week, drifting lower to retest the 200-day simple moving average (SMA) around 0.6158 ahead of New Zealand’s quarterly CPI inflation data. The focus will remain on the downside as the RSI has returned to the bearish region, and the MACD has slipped into the negative area, both suggesting […]

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We’re Hosting a Seminar You Won’t Want to Miss!

Our clients in the Dominican Republic will soon have the chance to learn to master two effective trading tools in just 3 hours! We invite you to our free seminar titled All You Need to Know About Fibonacci & ADX in Santo Domingo on 13 May! This engaging, easy-to-follow, and highly informative seminar is perfect […]

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Indonesia Ramadan Promo Winners

We are pleased to announce the winners of our Ramadan promotion. The promo awarded IDR 348,000,000 in prizes to 15 Winners, with more information available below. Lucky Draw Promo Winners Prizes MT4/MT5 Account ID Prize 1: Kawasaki Ninja ZX-25R motorbike* 32232880 Prize 2: Tudor Royal M28503-0006 Luxury Watch* 80419233 Prize 3: Apple iMac MXWV2* 81535202 […]

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Technical Analysis – AUDUSD in a very gentle upward move; who will blink first?

AUDUSD is trying to find its direction with the 0.6797 level acting as a ceiling at this juncture. This pair has actually been moving very gently inside an upward trending channel since the March 10, 2023 low of 0.6563. Considering the overall AUDUSD price action since mid-January 2023, this channel tends to favour downside breaks. […]

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Technical Analysis – EURJPY just below the October 2022 high

EURJPY is edging higher following the successful break of the 145.71 level that troubled the bulls in February. The pair is currently a tad below the October 21, 2022 high of 148.39 as EUR bears are trying to stage a comeback. This will not be easy as the Average Directional Movement Index (ADX) is hovering well above […]

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Daily Market Comment – China GDP rebound adds some cheer, dollar slips but stocks waver

Strong Chinese GDP data calms but does not quell fears about growth Asian stocks mixed, European shares climb, higher yields weigh on Wall Street Dollar off highs, pound and aussie lifted by UK jobs data, hawkish RBA minutes Is China’s economy back on track? The economic recovery in China appears to be gaining tract as […]

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Technical Analysis – GBPUSD returns back inside the recent rectangle

GBPUSD bulls’ upside breakout proved short-lived. They managed to record a higher high of 1.2546 on April 14, 2023, but the pair has returned back inside the rectangle that has formed since Nov 21, 2022. This range-trading activity has resulted in a tightening of the Bollinger Bands and a convergence of the 50- and 100-day […]

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Technical Analysis – USDCAD bulls try to put a temporary stop to the recent sell-off

USDCAD is higher today as USD bulls are trying to put a temporary stop to the most recent bearish move. Since the March 10, 2023 high of 1.3861, a series of lower highs and lower lows have been recorded, confirming that the short-term trend remains bearish and infusing further confidence in USD bears. Especially, the […]

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Technical Analysis – Gold retreats from recent highs; bulls try to keep it above 2,000

Gold is hovering around the March 20, 2023 high of 2,010, having retreated from the recent one-year higher high. Keeping gold price above the 2,000 threshold appears to be their primary target for the bulls, following the rather explosive move from the early March 2023 dip at the 1,800 area. On the other hand, gold […]

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Technical Analysis – EURUSD makes one-year high; bears prepare their response

The EURUSD rally that started after the September 28, 2022 low of 0.9535 made a new higher high at 1.1075, surpassing the February 2, 2023 high of 1.1320. It has not been a one-way street higher, but euro bulls managed to recover from the early March 2023 dip. The recent price action appears to have […]

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Bitcoin and Ethereum claim important levels as crypto rally resumes – Cryptocurrency News

Undoubtedly, cryptocurrencies have had a vibrant start to the year, outperforming against all major asset classes and revisiting multi-month highs. Besides the improving macroeconomic backdrop, digital coins also benefited from the banking crisis, while fundamental improvements within the sector acted as an additional tailwind. However, as systemic and regulatory woes continue to rattle the sector, investors should […]

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Technical Analysis – GBPJPY storms to fresh 3-month high

GBPJPY has been edging higher in the short term, posting a fresh three-month high of 167.50 on Thursday. Moreover, the ascending 50-day simple moving average (SMA) is positively closing the gap with the 200-day SMA, where a potential golden cross may help the pair extend its advance. The momentum indicators are endorsing a bullish near-term bias. Specifically, the RSI has flatlined […]

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