GBPUSD returned to the red zone on Tuesday, plunging to a new two-and-a-half-month low of 1.2527 after Monday’s bullish efforts evaporated immediately near the 1.2625 constraining area. The trend has been negative since July and the bearish crossing of the 20- and 50-day SMAs is causing concern for the near future. Moreover, the technical indicators […]
Dollar shines, yen slides as US bond yields power higher China optimism melts away after disappointing PMI data Aussie dollar crumbles, gold tests crucial support zone Dollar/yen follows yields higher The US dollar resumed its march higher on Tuesday, receiving fuel from interest rate differentials and safe haven flows. Bond market players have started to […]
EURJPY has been in a prolonged uptrend since the beginning of the year, posting a fresh 15-year peak of 159.75 on August 31. Although the pair experienced a pullback following its multi-year high, it managed to find its footing at the 50-day simple moving average (SMA) and recoup some losses. The momentum indicators currently suggest that […]
The JP225 cash index is trying to register its fourth consecutive green candle but the rally seems to have halted temporarily at the June 16, 2023 downward sloping trendline. This is the third time that this trendline appears to limit the bulls’ appetite, allowing the formation of a bearish series of lower lows and lower […]
On 19 August 2023, XM successfully hosted the well-attended seminar How to Use Indicators in Cebu which was a huge success! Thank you to everyone who attended and our incredibly skilled presenter, Jonathan Lou Reyes, for sharing his expert knowledge. Reyes delved deep into trading indicators, and how they can be successfully used to generate […]
Central bank meetings in Australia and Canada will shift attention to the aussie and the loonie this week in a relatively important month for monetary policy decisions. The commodity currencies aim to steal ground from the US dollar, while gold is hoping for a bullish breakout too ahead of the ISM non-manufacturing PMI index. RBA […]
AUDUSD could not successfully jump above its 20-day simple moving average (SMA) and the 0.6480 barrier last week despite securing a strong foothold around the 2020 support trendline for the third time since the pandemic fallout. The technical indicators keep trending upwards, reflecting persisting buying interest, though buyers might wisely wait for a clear extension above […]
The US 500 stock index (cash) had been undergoing a pullback after marching to a fresh 16-month high of 4,606 on July 27. However, the index managed to find its footing at 4,342, which is the 23.6% Fibonacci retracement of the 3,486-4,606 upleg, and storm back higher towards its recent peaks. The short-term oscillators currently suggest that bullish […]
Dollar climbs despite relatively soft US employment report China stimulus measures boost oil prices and Asian stocks Gold trades with resilience, undeterred by dollar and yields Dollar defies cooler US jobs data An unexpectedly soft US employment report could not hold down the US dollar on Friday. While nonfarm payrolls slightly exceeded forecasts in August, […]
EURUSD has been in a steady decline after peaking at the 18-month high of 1.1275 on July 18, generating a series of lower highs and lower lows. Besides that, the pair has dived beneath its 200-day simple moving average (SMA), which is further deteriorating the technical outlook. The momentum indicators currently suggest that the bearish forces […]
In August, we launched a new series of trading seminars for our LATAM clients, covering FX essentials, plus technical & fundamental analysis basics. The seminars took place in Querétaro (05 August), Arequipa (12 August), and San Salvador (19 August). Our market expert sguided participants through the financial markets basics, teaching them how to trade smarter […]
The US dollar index changed course to the downside after its bullish wave that started from the 15-month low of 99.19 in mid-July peaked near the support-turned-resistance line at 104.35 last week. A mixed US nonfarm payrolls report could not help the market on Friday, but the support area around the 20-and 200-day SMAs, which […]
The Reserve Bank of Australia will decide on interest rates on Tuesday (04:30 GMT), likely keeping them on hold for the third straight month. One reason for the RBA’s increased caution lately is weaker economic growth. GDP data due on Wednesday (01:30 GMT) will reveal whether growth remained sluggish or improved in the second quarter. […]
Bitcoin started September in a choppy trading session, following an 11% drop in August, which is its worst monthly performance since November 2022. The king of cryptos has exhibited high volatility in the current week, with yesterday’s slump completely erasing Tuesday’s solid rally that came on the back of positive developments on the regulatory front. […]
After a barrage of US data hurt the dollar this week, with investors having second thoughts as to whether another Fed hike may be needed, the US agenda will become lighter next week with the spotlight turning to the ISM non-manufacturing PMI. Elsewhere, the RBA and the BoC are holding their interest rate decisions, kick-starting […]
Dollar and stocks drift sideways as August payrolls awaited for direction Asian equities outperform after China boosts support but aussie fails to catch fire Oil extends rebound amid tightening market, gold holds near highs All eyes on August NFP report It’s been a week of ‘bad news is good news’ for the markets as investors […]
Attention traders in Dubai! Curious about technical and fundamental trading, and unsure which one of the two is more effective? Habib Akiki is getting ready to answer the age-old debate and share his insight to help traders choose the best strategy for them. Join the free seminar Technical vs. Fundamental Analysis — Finding the Best […]
NZDUSD staged a nice rebound up to 0.6000 at the start of the week, but the 20-day simple moving average (SMA) proved a heavy obstacle ahead of the US jobs data, limiting gains around 0.5967. The upside reversal in the momentum indicators is feeding optimism the bulls may stay in play in the coming sessions. Yet, […]
USDCAD had been stuck in a steep uptrend after finding its feet at the 11-month low of 1.3091 in mid-July. However, the pair has been undergoing a downside correction since its rejection at a fresh three-month peak of 1.3638 on Tuesday. The momentum indicators currently suggest that the bullish forces are fading. Specifically, the MACD is […]
The US 100 stock index (cash) will be closely watched throughout the day as the bulls re-examine the tentative short-term descending trendline drawn from July’s 1½-year high at 15,480. A decisive step above that bar at 15,480 would call into question the downfall from recent highs, likely motivating an ascent towards the 15,800-15,930 ceiling. A victory at this […]
USDJPY has been in a steady uptrend since the beginning of the year, posting a fresh nine-month high of 147.36 on Tuesday before paring some gains. However, some downside risks could arise soon as the pair remains above levels that the Japanese policymakers were previously willing to protect. The momentum indicators currently suggest that the bullish forces are […]
BTCUSD (Bitcoin) broke aggressively above its rangebound pattern on Tuesday, temporarily jumping above the 28,000 mark. However, the bulls lost the battle around the 200-day simple moving average (SMA), with the price slipping before entering a tight range in the last couple of sessions. The momentum indicators currently suggest that near-term risks remain tilted to the […]
Dollar slumps again amid more signs of US slowdown, core PCE next Euro see-saws after mixed CPI numbers Stocks extend rally on fading Fed hike expectations, China stimulus Dollar pummelled as soft US data streak continues Expectations of further tightening by the Fed diminished further on Wednesday after more data pointed to a slowing economy […]
WTI oil futures (October delivery) snapped the 81.00 barricade and crawled moderately back above the 20-day simple moving average (SMA), which has been capping upside movements over the past two weeks. While the latest bullish action has turned the attention higher to the former constraining zone of 83.00 and August’s high of 84.15, a durable increase cannot be […]
AUDUSD had been in an aggressive decline after its bullish breakout from the rectangle encountered resistance at 0.6898, validating a double top pattern. However, the pair appears to be attempting a recovery since it managed to halt its retreat at the nine-month bottom of 0.6363 in mid August. The momentum indicators currently suggest that the bearish […]
XM has teamed up with Dapur Pasak, a youth-led charity in Malaysia, to provide food and necessities to the homeless population in Kuala Lumpur. Having a meal and maintaining personal hygiene is often taken for granted, yet for those without stable housing, it can be a constant struggle. XM and Dapur Pasak have distributed nutritious […]
EURUSD picked up steam after German headline CPI inflation arrived slightly higher than expected. A downward revision in the US Q2 first estimates and a surprise dip in the private ADP employment report added extra impetus to the price, sending it as high as 1.0944. The market aims for a new bullish cycle following the […]
As the Q2 earnings season draws to an end and market participants are digesting the Fed’s updated view on the interest rate trajectory and inflation outlook, major US indices are heading for their first monthly loss in six months. Nvidia’s upbeat earnings solidified the view that Artificial Intelligence (AI) is currently the biggest growth lever in the economy, but that did not manage to […]
Chinese markets continued to have bearish vibes in August and international assets that rely on Chinese business conditions suffered too, ultimately reducing global growth potential. On Thursday, China’s National Bureau of Statistics will release new data on manufacturing and services activity, with forecasts pointing to a mixed, but still unfavorable report. Chinese markets suffer China’s […]
The first event of our seminar series in Thailand, titled Expert Techniques for Trading Gold, was a resounding success! Traders from various backgrounds gathered in Bangkok for an insightful session filled with valuable knowledge, expert advice, and networking opportunities. Our esteemed instructors, Sompop Jittrakul and Atiwat Chantasing, presented technical analysis techniques for using the correlation […]
