NZDUSD stalled its decline after a strong bearish rally over the previous two weeks. The pair is still trading below the 20- and 40-simple moving averages in the 4-hour chart but is has rebounded somewhat from the more than four-month low of 0.6985 hit earlier on Thursday. The RSI has flattened below the 50 level, indicating that the market could be neutral in the […]
Here are the latest developments in global markets: FOREX: The US dollar index, which gauges the greenback’s strength against a basket of six major currencies, was practically unchanged on Thursday after it touched its highest level in 2018 yesterday, in the aftermath of the Fed’s policy meeting. STOCKS: US markets closed lower yesterday, following the FOMC meeting. […]
USDJPY has been recording a stunning bullish rally since it hit a 16-month low of 104.60 on March 23. The pair extended its run earlier this week recording a fresh three-month high near the 110.00 psychological level. However, during today’s early session the pair is trading slightly lower paring some gains. From the technical point […]
The US Fed’s Monetary Policy Statement and Interest Rate Decision were released yesterday evening, with the rate left unchanged at 1.75%. The market is pricing in two to three hikes in 2018, with a slight bias for three to four that could strengthen the dollar position. The Monetary Policy Statement set a slightly hawkish tone, […]
The US500 index has recovered after yesterday’s sell-off with a late session rally to the 4-hour moving average cluster. The blue trend line has been gained once again but the chart shows that the red trend lines, with the top one taken parallel from the bottom, defining the current price action. A break above this […]
Eurozone flash inflation readings will be available for review on Thursday at 0900 GMT and forecasts suggest that price growth in the monetary union will continue to lack momentum needed to reach the European Central Bank’s (ECB) inflation target, justifying the central bank’s patience in removing stimulus. On an annual basis, the headline Harmonized Consumer Price Index […]
Electric vehicle-maker Tesla is scheduled to release its earnings report for Q1 2018 after Wednesday’s US market close. The consensus recommendation for the company is “hold”, with the average consensus recommendation for the Auto & Truck Manufacturers peer group being a “buy”. The California-based company’s first quarter earnings per share (EPS) are anticipated to come […]
Market odds of an interest rate rise by the Bank of England in May have fallen dramatically over the past month from over 90% to less than 20% after a run of weak UK data. BoE chief, Mark Carney, also cast doubt about the prospect of a May move in recent remarks. However, after strongly […]
The Federal Open Market Commission (FOMC) started their two-day meeting yesterday. The meeting’s highlight will be the interest rate decision which will be announced at 1900 (GMT+1). It is highly expected that the officials will leave rates unchanged at 1.75%. Traders will be waiting for the accompanying statement, which will give them direction on future […]
WTI futures have been holding within a consolidation area since April 18 with upper boundary the 69.35 resistance level and lower boundary the 67.10 support, while the 20- and 40-simple moving averages in the 4-hour chart are acting as a strong mid-level of the channel. In the short-term, the technical indicators turned their momentum to negative. Looking at momentum oscillators […]
GBPUSD dived over the last two weeks after the bounce off the 1.4375 resistance level, while during yesterday’s daily session the price dropped below the long-term ascending trend line, shifting the bullish outlook to bearish. However, during Wednesday’s session, the pair is paring some losses after reaching an almost 16-month low of 1.3579. The RSI has fallen into oversold territory but is sloping slightly to […]
Here are the latest developments in global markets: FOREX: The US dollar managed to pare some losses against the Japanese yen made after it touched a 3-month high of 109.91 earlier in the day, rising to 109.83 (-0.02%). The dollar index, which gauges the greenback’s strength versus six major currencies, managed to hit a 4-month high […]
Following an intensive forex trading seminar series held in different locations of Latin America this spring, XM is soon to embark on its next seminar road trip in summer, which will reach as many as five locations in Mexico and Colombia. Professional trading instructor Jarek Duque, Chief Instructor for Tradepedia Latin America, accompanied by the […]
The price action on this chart shows that the GBPAUD pair has been consolidating sideways after a breakout above 1.80000. The pair has spent most of April in this consolidation, with resistance at 1.85000 and support at 1.81695. Today’s drop below this support level puts the pair on the back foot. Resistance on a break […]
EURJPY is trading higher snapping five consecutive negative days in the short-term after it reached a three-week low of 131.60 during yesterday’s session. Furthermore, prices today successfully surpassed the 38.2% Fibonacci retracement level of 131.74 of the upleg from 128.93 to 133.50. A bullish pullback is expected further supported by the technical indicators. Short-term momentum indicators are also pointing up for […]
Here are the latest developments in global markets: FOREX: The US dollar index continued to advance yesterday, reaching a fresh four-month high ahead of a policy decision by the Fed later today. Meanwhile, sterling came under renewed selling interest as UK data continued to disappoint, while the loonie experienced a very volatile session following some […]
The XM seminar road trip the XM started this spring in Malaysia reached two further cities, Johor Bahru and Miri, where it was a great pleasure to meet with a large number of online investors who took part in the educational event. The seminar titled Investment Strategies in Online Trading was presented by professional instructor […]
AUDUSD has been heading sharply lower over the last couple of weeks, penetrating the long-term ascending trend line to the downside. The bullish picture shifted to bearish as there is a weekly session close below the significant diagonal line, which had been holding since January 2016. Since its deep fall, the price touched a fresh 11-month low […]
The USD is unwinding some of its moves from yesterday, with the EURUSD back above 1.20000 and GBPUSD back above 1.36000. Trading overnight was sluggish but some pairs are at decisive levels, with the AUDUSD back above 0.75000 and NZDUSD back above 0.70000, as New Zealand jobs data came in largely as expected. The market […]
In trading, certain decisions can make or break their performance. A single decision to buy or sell an asset can lead to significant losses. To minimize the amount of losses one can make, traders use several strategies. The most important methods of analysis that traders use are the technical and fundamental analysis. In technical analysis, […]
There are many factors that influence the price movements of financial assets. For example, a hawkish Fed may lead the dollar higher while better-than-expected projections can take a stock higher. Another factor that we regularly talk about is geopolitics. Geopolitics refers to the political issues between two or more countries. In this article, I will […]
Tech behemoth Apple will be releasing its earnings report for the quarter ending March 2018 after Tuesday’s closing bell on Wall Street. The consensus recommendation for the company is “buy”, matching the average consensus recommendation for Phones & Handheld Devices, its peer group. The world’s largest company by market cap is forecast to have made […]
The Eurozone will see the release of its preliminary GDP for Q1 as well as its unemployment rate for March, both on Wednesday at 0900 GMT. Forecasts point to a slowdown in economic growth, something that would likely vindicate the European Central Bank’s (ECB) recent shift to a more cautious stance. It’s no secret that […]
The Federal Open Market Committee (FOMC) begins a two-day monetary policy meeting on Tuesday, with a decision expected on Wednesday at 18:00 GMT. No change to the federal funds rate is expected this month, which now stands at a target range of 1.50-1.75%. The Committee last raised rates in March and indicators for the US […]
For more than 70 years, the Korean peninsula was at war. The two countries have been bitter rivals in the way they are governed and the way they operate. During the Korean war, the Northern side took on a path of communism while the southern side became capitalists. South Korea flourished and became one of […]
The Reserve Bank of Australia (RBA) will announce its policy decision on Tuesday, at 0430 GMT. The Bank is widely expected to keep rates on hold, so once again, attention will be on the accompanying statement. Given mixed developments since the latest meeting, the RBA is likely to stick to its neutral script overall. In […]
GBPAUD edged sharply lower over yesterday’s trading session and touched the 1.8170 support level. The pair has been holding within a sideways channel since March 19 with upper boundary the 1.8475 resistance level and lower boundary the 1.8170 support, which coincides with the 40-day simple moving average. In the short-term, the technical indicators turned their momentum to positive. […]
The GBPUSD chart shows a pullback under the 100 DMA that has broken down towards the March low. This price action potentially sets up a double top scenario, and the level of 1.37117 comes in to focus as the trigger for this pattern. It is also in this area that the rising black trend line […]
Foreign Exchange (Forex) is the biggest market in the world. Every day more than $5.3 trillion worth of transactions are performed. There are hundreds of pairs for them to trade. The EUR/USD pair is the most active pair in the world and one of the closely watched. This is because of the level of trade […]
Last week, the biggest news came from the Korean peninsula, where the leaders of North and South Korean met for the first time in decades. The meeting came as signs showed that the tensions in the region were easing following years of escalation. It also came a few weeks before the Korean leader meets with […]
