Silver is edging higher as the market is digesting today’s data releases and the bulls are trying to make a stand, following the aggressive sell-off from the July 20 high of 25.25. With the 200-day simple moving average (SMA) broken, the bulls have pinned their hopes in defending the busy 22.24-22.50 area and preventing the […]
The UK economy has probably narrowly escaped a recession in the first half of the year flash Q2 GDP data are expected to show on Friday at 06:00 GMT. On the other hand, inflation is still the elephant in the room and another poor GDP report could do little to scale down expectations for a […]
Dollar ticks down ahead of all-important US inflation data Yen sinks, hits its lowest levels since 2008 against the euro Energy prices go ballistic, stock markets and gold retreat US inflation to disturb the waters Global markets are holding their breath in anticipation of today’s US CPI inflation release. The stakes are high as this […]
WTI oil futures snapped the 83.40 resistance on Wednesday, exiting marginally the long-term range area to reach a new high of 84.71 today. The RSI and Stochastic oscillator are in the overbought zone, indicating the short-term bullish trend may stall soon as the price nears the upper limit of the upward-sloping channel at 85.40. Should the bulls run […]
EURGBP is edging higher today, battling with the 0.8635 level again. The aggressive sell-off from the February 2023 highs has probably halted as this pair has been hovering inside the 0.8504-0.8700 range for the past three months. The recent price action is giving rise to a plethora of patterns with the most prominent being a head-and-shoulders structure […]
It’s time to reveal the winners of our fabulous Gold Promotion that ended on July 30, 2023! 20 lucky traders got a share of 1kg of gold worth approximately $65K, with the 1st placed winner receiving a 300g gold bar! Additionally, every participant who traded at least 1 round lot also got the Avramis Gold […]
It’s time to reveal the winners of our fabulous Gold Promotion that ended on July 30, 2023! 20 lucky traders got a share of 1kg of gold worth approximately $65K, with the 1st placed winner receiving a 300g gold bar! Additionally, every participant who traded at least 1 round lot also got the Avramis Gold […]
The US 500 cash index is in the red again today as it is trying to find its footing now that the earnings reporting season is coming to an end. It feels like the bulls are taking a well-deserved breather after recording a massive 32% rally from mid-October 2023 and a 21% advance since the […]
USDCAD is moving higher again today, but the 200-day simple moving average (SMA) appears to limit the bulls’ appetite. This is actually the seventh consecutive green candle recorded since August 1. This is a rare event for this pair but clearly reflects the prevailing bullish sentiment. Additionally, the recent bearish series of lower lows and […]
We are thrilled to announce the winners of our Africa Trade and Win promotion that ended on 31 July 2023. From all the lucky draw participants, 65 XM traders won prizes totalling $15,000+. Congratulations to the winners, who are listed below, on their fantastic cash prizes! Lucky Draw Winners Prizes MT4/MT5 Account ID Prize 1: […]
We’re pleased to announce the winners of our latest The Winning Bull Promo that ran until July 31. The luckiest client won a luxury 4-night stay at Dubai Atlantis Hotel, while 49 others won fabulous prizes including the latest Apple gadgets, DJI Mavic Mini 2 Drones, cash, and more! Please see below for the full […]
The world’s oldest cryptocurrency has risen by almost 80% this year, boosted by the Fed’s liquidity injections to deal with the banking crisis, and hopes that US regulators will soon approve an ETF that tracks spot Bitcoin prices. That could be a huge event for crypto markets, although there are also risks, as liquidity conditions […]
The month of July tends to bring confusing memories for ECB followers due to the respective 2008 and 2011 meetings. Both rate hikes announced back then were eventually seen as policy mistakes with the ECB quickly forced to subsequently ease monetary policy afterwards. Are there any similarities with the current ECB situation? What was the […]
USDJPY recouped its latest pullback after finding strong support around the 141.50 level and near the 50-day simple moving average (SMA). The focus is now again on the 143.35 ceiling as investors are eagerly waiting for the US CPI inflation report to generate some extra volatility on Thursday at 12:30 GMT. There have been no successful […]
Concerns about China and Moody’s downgrade weigh on sentiment Dollar gains on safe-haven demand, awaits inflation data Risk aversion keeps Wall Street in correction mode Dollar stays in its safe-haven suit The US dollar continued gaining ground against all its major counterparts on Tuesday as risk appetite continued to deteriorate on the back of disappointing […]
NZDUSD is recording a green candle today as the bulls are trying to halt the bearish breakout from the rectangle that has been in place since February 2023. This is actually the fourth breakout attempt since early June 2023, but similar to the previous ones, it seems to lack the necessary strength for a sizeable […]
We’re happy to announce the ten lucky winners of our Monsoon Trading Promo! We would like to thank everyone that participated, and we hope that Monsoon season brought you more than just wet weather! Hopefully prizes rained down on you! Monsoon Trading Promo 2023 Winners Prizes MT4/MT5 Account ID Prize 1: ₹111k 90130106 Prize 2: […]
AUDUSD fell by 1.0% to a new two-month low of 0.6498 due to China’s disappointing trade figures, becoming the worst performer among major pairs today. The 0.6500 level is being re-examined and there is hope that the pair could pivot at this point as it did last week. Nonetheless, the falling RSI and stochastic oscillators on […]
AUDUSD has fallen sharply in recent weeks, after posting a double top near the 0.6900 region. The neckline of the double top pattern at 0.6600 was soon violated and then acted as resistance for the price action, painting a negative outlook for the pair and signaling the resumption of the longer-term downtrend that started in […]
Even after the US employment report revealed higher-than-expected wage growth for July, investors continued to believe that the Fed has already concluded its own tightening crusade. Will this week’s CPI numbers make them change their mind? Where are the risks tilted to and how could the markets respond? “We could hike, we could pause” At […]
Slump in Chinese trade numbers weighs on risk-linked assets Dollar waiting for US inflation test, yen retreats after wage data Stocks bounce back despite Apple’s troubles, gold trades quietly China’s trade slump The slowdown in the world’s second-largest economy seems to be deepening, as the dual crises in the manufacturing and real estate sectors have […]
GBPUSD closed higher than its 50-day SMA and the resistance trendline from October 2022 on Monday, indicating a higher chance for more positive sessions. Moreover, the doji candlestick at the bottom of the bearish channel was followed by two green candlesticks, promoting an extension towards the channel’s upper boundary at 1.2855. The 20-day SMA and […]
EURJPY is edging higher as it appears ready to retest the 16-year high of 157.99. The move prior to the July 28 BoJ meeting has been almost completely erased with the bulls confirming their dominance in this market. However, they have yet to make a new higher high, thus giving some hope to the bears […]
USDCHF found support near the 0.8700 round level on Monday with the scope to regain its positive momentum after a short correction last week. Overall, the pair has been on an upward trend since mid-July and the positive trajectory in the RSI and the MACD is still feeding hopes that the pair could reach higher […]
After a mixed US employment report, traders will assess CPI inflation readings on Thursday for clues on the Fed’s next interest rate decision in September. The UK will report GDP growth figures on Friday, while in Asia, China’s CPI inflation and trade figures might deliver new hints on Beijing’s stimulative policy on Tuesday and Wednesday, respectively. Hence, […]
After a mixed US employment report, traders will assess CPI inflation readings on Thursday for clues on the Fed’s next interest rate decision in September. The UK will report GDP growth figures on Friday, while in Asia, China’s CPI inflation and trade figures might deliver new hints on Beijing’s stimulative policy on Tuesday and Wednesday, respectively. Hence, […]
EURUSD is edging lower today as it appears to be affected by the summer lull. The pair is actually hovering a tad above the 1.0921-1.0940 area and currently battling with the May 31, 2023 upward sloping trendline. In the meantime, the continued convergence of the 50- and 100-day simple moving averages (SMAs) has yet to […]
The July 28 Bank of Japan meeting proved less exciting than some market participants anticipated despite the tweak in the yield curve control mechanism introduced. The majority of BoJ members remain dovish despite some relatively optimistic data prints during 2023. Could this week’s data releases have a positive impact on the yen against the euro? […]
US NFPs increase by less than expected in July Dollar, Treasury yields slide, traders add to rate cut bets Loonie suffers, BoJ debates prospect of sustained inflation Wall Street extends correction after US employment report Dollar comes under pressure as NFPs miss estimates The US dollar slid against all but one of the other major […]
This July, we hosted two seminars on How to Trade with Support & Resistance to help traders in Peru and Costa Rica expand their trading horizons. Held with great enthusiasm and expertise, they were an astounding success! Participants had an opportunity to learn from our trading expert, Felipe Erazo, gain valuable insights, and network with […]
