USDJPY remains under strong pressure and is looking more neutral as prices failed several times to climb above the 107.50 resistance level. This week’s upside momentum appears to have run out of steam as prices are flattening near the 107.00 psychological level. Looking at the bigger picture, the US dollar has been developing within a […]
The European Central Bank (ECB) will release the minutes from its March policy gathering on Thursday, at 1130 GMT. As always, investors will look for fresh clues regarding when policymakers plan to start winding down their asset purchase program, though the conversation regarding trade risks could also attract attention considering recent events. Even though the […]
AUDJPY hit a 4-week high yesterday, peaking at 83.36, but the upswing met resistance at the 50-day moving average. Prices have reversed sharply lower today but momentum indicators remain in bullish territory, suggesting fresh gains are still possible in the near term even though the immediate risk is to the downside. Th RSI has dipped […]
A recent report by European Securities Markets Authority (ESMA) found that more than 90% of all people who start trading fail within a year. Most of them fail because of several reasons. For example, some fail because of their lack of understanding about how the financial industry works. Others fail when they rush to trade […]
EURTRY reached another all-time high of 5.1931 today, posting the ninth consecutive bullish day. Over the last couple of days, the pair is posting new highs with aggressive mode and is trading well above its moving averages. The bullish picture in the medium-term is further supported by the MACD, which is rising above its red […]
The British Pound came down off the highs this morning after the latest economic data releases. UK’s Manufacturing Production contracted at a monthly 0.2% in February against an expectation of an expansion of 0.2%. Industrial Production expanded 0.1% versus an expectation of 0.4%. Additionally, the UK’s trade balance report was released, showing that the deficit […]
Here are the latest developments in global markets: FOREX: While trade concerns seemed to ease following an encouraging speech by the Chinese President yesterday, who promised to improve the business environment for foreign companies, a pledge later outlined in more detail by the People’s Bank of China Governor, geopolitical fears appeared in the horizon. Particularly investors […]
EURJPY reached a 7-week high of 132.60 during Tuesday’s trading session as the pair extended its bullish rally for the second day in a row. In the short-term, prices are capped by the 132.60 resistance level and the upper Bollinger Band. In addition, the 38.2% Fibonacci retracement level of 132.50 of the downleg from 137.50 to 129.00 acts […]
Following two successful educational events in Bacolod and Baguio this spring, XM will soon visit further locations in the Philippines: Davao City and Cagayan de Oro. Professional instructor Jonathan Lou Reyes will present the seminar topic titled The Basics of Forex Trading in Davao City on 26th May and then, just a one week later […]
The EURCAD pair has fallen back under the red supporting trend line, leading to a down move to the 1.55500 support area. The low reached 1.55458 but there is support close by at 1.55325. Price action is now back to the 1.56000 level. Resistance comes in the form of the 50 DMA at 1.56860, with […]
Early this year, I wrote about platinum and palladium. As you recall, palladium was the best performing metal, gaining by more than 40%. It reached a high of $1126 per ounce. On the other hand, platinum had a lukewarm year, seeing just a minor gain. A little history. Platinum and palladium belong to a class […]
Here are the latest developments in global markets: FOREX: The US dollar index traded nearly 0.1% lower on Wednesday, touching a fresh 2-week low ahead of the release of US CPI data and the minutes from the latest FOMC meeting. Both the euro and the pound gained yesterday, amid hawkish remarks from ECB and BoE officials […]
On 3rd April, XM held a charity event in collaboration with the Foundation for Slum Child Care, in Bangkok, Thailand, to contribute to a better life quality of children in need. As the aim of the XM Foundation is to make a positive difference to the life of individuals, an essential part of its humanitarian […]
AUDUSD has reversed back up again after four bearish weekly sessions, following the strong rebound on the 38.2% Fibonacci retracement level near 0.7640 of the upleg from the low on January 2016 (0.6820) and the high on January 2018 (0.8135). In the short-term, the pair posted an aggressive positive rally during yesterday’s session, approaching the 40-day simple […]
As we await the FOMC minutes this evening, which will give an indication of the Fed’s thinking on the path of hikes going forward, UK Industrial Production is expected to decline from 1.3% to 0.4% (MoM) today, which puts it back in line with the January reading. The Trade tensions between the US and China […]
Wednesday promises to be an eventful day for the dollar, with US CPI data for March and the minutes from the latest FOMC meeting likely to trigger renewed volatility in the world’s reserve currency. While a potential acceleration in inflation and a confident tone in the minutes could help the greenback recover a little, numerous […]
The pound was one of the best performing currencies against the US dollar in the first three months of 2018. But as the British currency basks in the growing optimism about the prospect of a favourable post-Brexit trade deal with the European Union, the renewed strength may not be good news for UK exporters, with […]
Low interest from investors continues to put pressure on the crypto market. According to CoinMarketCap, Bitcoin has lost 5.5% in the last 24 hours and is currently trading near $6,700. The “benchmark” cryptocurrency has been keeping within the $6,500 – $7,100 range. The news that George Soros, the Rothschilds and other financial moguls have an […]
NZDJPY has advanced considerably over the last couple of hours and surged towards the 38.2% Fibonacci retracement level around 78.70 of the downleg from the high of 83.90 to the low of 75.50. When looking at the longer-term picture the price has been developing within a descending tendency since the end of July 2017. Momentum indicators are […]
The much-anticipated speech delivered by Chinese President Xi Jinping at the Boao Forum for Asia earlier today sent the Australian Dollar sharply higher. Mr Xi made no direct reference to the trade dispute with President Donald Trump and said China’s markets will be opened further, with improved conditions for foreign companies. He also talked about […]
Here are the latest developments in global markets: FOREX: Investors continued to digest encouraging comments by the Chinese President, Xi Jinping, during the early European afternoon, driving the Chinese-linked currencies such as the kiwi and the aussie even higher. The gains appeared after Xi backed free trade and pledged to limit import tariffs, while his […]
The Germany 30 index has advanced considerably after hitting a two-month low of 11,703.80 on March 26 and coming close to the more than one-year trough of 11,691.60 recorded in early February. Earlier on Tuesday, the index posted a near four-week high of 12,428.30. In terms of the short-term picture, the Tenkan-sen line has just […]
WTI crude oil futures have come under renewed buying interest, rising back above the 64.00 strong psychological level. After the significant rebound on the 61.77 support, the price reversed and is trying to pare some of the previous week’s losses. Oil prices jumped to a new one-week high and challenged the 64.35 price level during […]
The GBPUSD pair is breaking higher today, after managing to close above the 1.41000 level yesterday. This move gives long positions a bit of confidence, with the falling blue trend line at 1.42162 the main obstacle on the way to the high of 1.43450. There is also a band of resistance between the 1.42445 and […]
China’s National Bureau of Statistics will publish inflation data on Wednesday consisting of the consumer and producer price indices. While both the CPI and PPI rates are expected to moderate in March, investors will be wary of any unexpected weakness in price pressures in the world’s second largest economy amid an escalating trade spat with […]
The China A50 stock index (CHI50) did little to gain ground after it hit a 5 ½-month low of 12,269 at the end of March, with the index posting moderate moves since then to create a base around that trough. The market is currently trying to surpass its 200-day simple moving average and the technical indicators are […]
Here are the latest developments in global markets: FOREX: The US dollar index, which tracks the greenback’s performance against a basket of six major currencies, was practically unchanged on Tuesday. Against the yen, the dollar was nearly 0.4% higher though, after some comments from Chinese President Xi Jinping boosted risk appetite, curbing demand for the safe-haven […]
GBPUSD has been consolidating since January 12 with upper boundary the 1.4280 resistance level and lower boundary the 1.3710 support barrier. The neutral to bullish picture in the short-term looks to last a while longer as prices are still trading in the middle of the trading range. During a previous couple of sessions, the pair rebounded on […]
With US Producer Prices data on the way this afternoon, and predicted to be largely as expected, the morning session will be dominated by central bankers, as FOMC Member Kaplan and MPC Member Haldane are due to make separate speeches. The US/China Trade War has been dominating headlines, with Chinese President Xi speaking overnight and […]
The ruble has lost 3.8% in one day against the euro and the dollar. The dollar has already exceeded 60 (+1.83p) rubles while the euro has risen to 73.70 (+2.32p). In total, the ruble has lost 5.4% since the announcement of sanctions on Friday. Despite the shocking growth rates today, the major short-term mark of […]
