EURUSD jumped into the 1.1100 area ahead of the ECB policy announcement early on Thursday, exiting its bearish channel on the four-hour chart. The 50-period simple moving average (SMA) is currently keeping the bulls busy around 1.1145 and if it proves tough to surpass, the pair could switch into corrective mode. The 61.8% Fibonacci retracement of the latest downfall […]
Our exciting new seminar ‘How to Turn Gold Trading into a Reliable Income’ is coming to Tashkent (August 26th) and Samarkand (September 2nd). We’re looking forward to welcoming XM traders in the two lovely cities, where CEO and Founder of Zeta Invest Jamshid Karimov will give attendees 3-hour lessons on how to utilise gold trading […]
WTI oil futures (September delivery) have been in a steady uptrend since late June, crossing above both the 50- and 200-day simple moving averages (SMAs) as well as the descending trendline that connects their lower highs since September 2022. However, in the last couple of daily sessions, oil has shown signs of consolidation near its three-month […]
AUDUSD seems to have secured a strong foothold near 0.6735 and around its 20- and 200-day simple moving averages (SMAs), increasing optimism that the next bull run to 0.6900 could happen soon. From a technical perspective, the pair could recoup some extra ground in the short term as the RSI has avoided a drop below its 50 […]
Fed Chair Powell appears less hawkish than expected Dollar slides as investors add to their rate cut bets ECB to hike, focus on Lagarde’s remarks BoJ tweak cannot be ruled out Powell disappoints dollar bulls The US dollar traded lower against the majority of the other major currencies on Wednesday and continued sliding during the […]
EURUSD attempted a modest recovery earlier today but the 20-period simple moving average (SMA) in the four-hour chart blocked the way higher once again around 1.1080. The RSI has changed course to the upside and the MACD is slowly distancing itself from its red signal line, suggesting that market sentiment is improving. Yet, the indicators […]
Meta’s (Facebook) stock has been in a steep uptrend since it bottomed out in October 2022, attempting to erase its 2022 slump. However, in the past few daily sessions, the price has experienced a pullback just shy of the 78.6% Fibonacci retracement of the downtrend drawn from the record high observed in 2021 until last […]
BTCUSD (Bitcoin) switched to silent mode after Monday’s plunge to a one-month low of 28,842, with the price trading almost flat over the past two days. The latest pullback followed a rejection near the 30,000 psychological mark and the 20-day simple moving average (SMA) but the 50-day SMA managed to minimize losses around 29,136. Nevertheless, […]
The US 30 cash index is edging lower today as the latest rally appears to have halted at the busy 35,091-35,496 range. The US 30 index actually registered a new 2023 high and its highest print since April 2022, finally overcoming the December 13, 2022 peak. The momentum indicators remain mostly supportive of the current […]
Gold has posted solid gains in July after bouncing off the four-month low of 1,892 in late June. Although bullion experienced a pullback following a fresh two-month peak of 1,984 on July 20, it stormed back higher in the last couple of four-hour sessions, claiming the 50-period simple moving average (SMA). The momentum indicators are […]
Amazon.com will unveil its Q2 financial results on Thursday, August 3, after Wall Street’s closing bell. The world’s biggest online retailer is set to post solid figures as its aggressive expansion in a range of secondary sectors seems to be coming to fruition. Also, the e-commerce segment is expected to rebound despite global weakening consumer […]
The Bank of Japan will announce its latest policy decision on Friday after concluding its two-day meeting. Speculation has been intensifying in the run up to the meeting about what the central bank will decide, as higher inflation has raised the possibility of another tweak to its yield curve control policy. Officials have tried to […]
Advanced Micro Devices (AMD) will release its latest earnings on Tuesday, August 1, after Wall Street’s closing bell. Earnings are expected to have declined from last year, amid a sharp slowdown in gaming demand. Nonetheless, AMD shares have risen 76% so far this year, as investors are razer-focused on the company’s future prospects in the […]
USDJPY bulls took a breather after a constructive week, which saw the pair bouncing from a low of 137.23 to a high of 141.94. The pair recouped half of July’s freefall, but the 20-day simple moving average (SMA) has been a struggle so far this week, pushing the price softly to the downside. Encouragingly, the […]
Fed expected to hike, spotlight to fall on hints about next moves Euro awaits ECB; aussie slides on inflation slowdown Wall Street gains, awaits Fed and more tech earnings Will the Fed hint at more hikes? The US dollar traded lower against most of the other currencies on Tuesday, but it seems to be stabilizing […]
NZDUSD is hovering a tad below the midpoint of the rectangle that has been in place since February 2023, as market participants have been unable to stage a sustained move up to now. However, since the failed late-May bearish breakout, a series of higher highs and higher lows has been in place with the bulls aiming […]
This July, we hosted an action-packed seminar on how to Minimise Risk and Losses in Taipei. The event, hosted by the founder of the OPAS Trading School, captivated the audience from start to finish! Our esteemed mentor, Lewis Huang, shed light on proven techniques for setting a stop-loss and finding support and resistance levels in […]
Microsoft stock opened mildly higher on Tuesday, edging up to 347.97 as investors eagerly awaited the company’s Q2 earnings and its outlook on artificial intelligence after the market close. The price has been in a bearish corrective mode during previous sessions following the peak at a new record high of 366.49 last Wednesday, but the […]
Mastercard is edging lower today after recording a new all-time high of 404.51 in yesterday’s session, just a few days before the scheduled earnings release for the second quarter of 2023. The rally since the October 13, 2022 low has been impressive, with the latest leg from the May 31 low being almost exponential and […]
USDCHF rotated northwards after its latest, almost vertical, downfall halted at the bottom line of the broad bearish channel at 0.8554. The price is currently flirting with the 0.8700 round-level as the stochastic oscillator is pointing to overbought conditions, increasing the risk for a downside correction. The RSI is still some distance below its 50 […]
This week, investors are locking their gaze on their screens, awaiting earnings results from tech-giants in order to evaluate whether they were correct on increasing so much their exposures since October. With the euphoria around artificial intelligence (AI) being the main catalyst behind this accelerating uptrend, market participants may be eager to find out more […]
Google’s summer trading in stock markets has been lacklustre compared to its spring rocket rally to a more-than-a-year high of 129.46. The stock has been swinging to the downside for more than a month now, but the support trendline from March has been protecting the market from a bearish trend reversal. The price bounced on the […]
The US 100 index is edging higher today as a small correction is underway after the index registered its highest level of 15,931 since January 13, 2022. With a 32% rally in place since the March lows, the bulls are probably taking a breather at this juncture as they prepare for another upleg. However, the momentum indicators […]
China pledges more stimulus, lifting oil prices and local stocks Euro licks wounds after disappointing PMIs, antipodeans shine Wall Street advances ahead of Microsoft and Google earnings Stimulus optimism Chinese authorities vowed to roll out more stimulus measures on Monday, spreading cheer in global markets. The world’s second-largest economy has been plagued by a deepening […]
GBPUSD is having a déjà vu of its trendline bounce on June 30, which helped the pair to advance towards a 15-year high of 1.3141 after a tick below the 20-day simple moving average (SMA). The pair paused its latest bear run near the short-term support trendline from June, but again the technical indicators cannot guarantee a sustained rebound. […]
EURJPY has been in a strong uptrend since the beginning of the year, posting consecutive multi-year peaks. In the near term, the pair is experiencing some weakness after getting rejected at the 15-year high near the 158.00 region, potentially forming a double top pattern. The momentum indicators currently suggest a cautiously bearish near-term bias. Specifically, the […]
It is probably the most important week yet this year as the ECB, the Fed and the BoJ are holding their last rate-setting meetings before the summer lull. The market is confident for another 25bps hike from the ECB but what about September? Also, could Thursday’s meeting act as a tailwind for the euro against […]
After a short break in June, the Fed is expected to announce its eleventh rate hike on Wednesday at 18:00 GMT. Most analysts think this will be the last rate increase of the tightening cycle that began in March 2022, but they will seek confirmation and look for signs of a possible rate cut next year. If […]
AUDUSD has been on the retreat again after its latest bullish breakout from the rectangle pattern encountered resistance at 0.6898, validating a double top pattern. In the near term, the pair’s decline has temporarily paused at the congested region that includes the 200-day SMA and the upper bound of the Ichimoku cloud. This latest pullback […]
Google parent Alphabet Inc is scheduled to report its earnings results for the second quarter on Tuesday after the market close. With all the rage about Artificial Intelligence (AI), Alphabet has a lot to live up to as it has to prove to investors that it can keep up with Microsoft, which at the moment, […]
