EURUSD skyrocketed to 1.0920 on headlines the ECB is not thinking of pausing rate hikes after raising interest rates to a 22-year high on Thursday as expected. The pair is experiencing one of its best daily sessions since the start of the year, but the bulls will need to reclaim the September support-turned-resistance trendline, which is […]
USDCAD dipped below the November support line, raising worries that selling pressures may strengthen. The bearish breakout is still being studied, as the price is still hovering nearby. The RSI and MACD, however, remain bearish, playing down any price increases in the immediate term. In other warning signals, the 50- and 200-day SMAs have posted a […]
Undoubtedly, major global stock indices have exhibited remarkable performance since the beginning of the year, with tech companies being the main driving force behind this rally. However, the FTSE 100 index, which was the sole survivor of the 2022 global selloff, has been massively underperforming for a wide range of reasons. Are UK stocks extremely […]
CHFJPY has made a fresh all-time high at 156.57 as the latest leg of the rally that started on March 20, 2023 does not appear to have an ending. This pair quickly overcame that previous high of 151.41 and it has not looked back since. Understandably, CHF bulls must be in dreamland and unwilling to […]
We concluded our special series of 8 seminars Gold Trading Essentials that gathered hundreds of XM traders in Thailand! The final event from the series took place in Khon Kaen on 10 June. Under the guidance of expert instructor Sompop Jittrakul attendees learned the foundations of gold trading, how geopolitical factors can affect the market […]
Fed holds rates steady but signals 2 more rate hikes this year Yet investors were not convinced, dollar weakens, stocks jump ECB decision in focus today, BoJ will follow early on Friday Fed surprises, markets skeptical As widely anticipated, the Federal Reserve hit pause on its tightening campaign yesterday, keeping interest rates unchanged. Nevertheless, the […]
The US 30 cash index is edging lower today after failing again to close above the December 2, 2022 downward trendline and the 34,280 level. The bears appear determined to defend this area, hoping that they can take advantage of any exhaustion signs appearing on the bulls’ side. With the Average Directional Movement Index (ADX) hovering around […]
AUDUSD has been enjoying an almost three-week nonstop rally, gaining around 5.0% since the bounce on the 0.6500 level at the end of May. On Wednesday, the pair reached its highest level since February and closed slightly above the 0.6780 ceiling, which has been capping bullish actions over spring. The impressive ascend could motivate some […]
WTI oil futures (July delivery) have been moving within their downward sloping channel for the last 10 months, creating a structure of lower highs and lower lows. In the near term, the price is trading flat slightly below the 70.00 region following a moderate pullback from the upper boundary of their long-term bearish channel. The momentum […]
BTCUSD (Bitcoin) has been generating a structure of lower highs and lower lows after peaking at the 11-month high of 31,064 in mid-April. However, the price has been rangebound in the past week, waiting for developments that could provide fresh directional impetus. The momentum indicators are currently well within their negative territories, but they are also suggesting […]
The UK 100 cash index has tentatively returned inside its 7,601-7,687 rectangle that acted as strong resistance during the January-December 2022 period. The index has been trading mostly sideways over the past few sessions despite the fact other developed stock market indices have been recording higher highs for 2023. Despite the considerable white space, a […]
Gold could not sustain its strength above the 1,965 bar on Tuesday, falling aggressively towards the 1,938 floor in the aftermath. The previous metal switched to recovery mode on Wednesday, though the mixed technical signals in the four-hour chart provide no clear direction. Traders would like to see a close above the constraining falling line at 1,950 before they […]
Inflation may have finally peaked around the world, but central banks remain on alert amid an uptick in some countries and the stickiness of underlying price measures in others. Whilst the view that inflation will continue to decline in the coming months hasn’t changed, policymakers are concerned that it’s not coming down fast enough, and […]
USDJPY traded inside a descending triangle, a typical indicator of a bearish reversal, but it somewhat played down that scenario when it crawled slightly above the negative formation on Tuesday. Nevertheless, traders may remain cautious as the technical signals in the four-hour chart remain discouraging. Specifically, the RSI and the MACD are still hovering within […]
JPMorgan (JPM) stock has almost erased the mid-March drop as it is currently hovering around the 142 area, not far from the 2023 high of 144.21. It has been a difficult rally from the March lows, with the 141.01 level proving a noteworthy resistance area and the March 23,2023 upward sloping trendline acting as strong support. […]
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USDJPY was trading muted within a short-term range and marginally above the 140.00 level prior to the FOMC policy announcement. The pair bounced on the 20-day exponential moving average (EMA) once again on Tuesday, increasing optimism that the bulls could take charge in the short-term. The RSI is still hovering above its 50 neutral mark, […]
Dollar slides as CPI numbers increase Fed skip chances Fed decides today, spotlight to fall on dot plot Wall Street extends rally after soft inflation prints US CPI data enhance the case for a Fed skip The dollar traded lower yesterday after data showed that US consumer prices barely rose in May, taking the headline […]
NZDUSD has returned inside the rectangle that has been dictating the price action since February 2023 as the recent bearish breakout proved to be false. This move has clearly dented the NZD bears’ confidence, but they have to react quickly in order to contain the bullish pressure. NZDUSD is currently hovering around the 200-day simple […]
An inflation peak is not enough for central banks to stop raising interest rates. The Reserve Bank of Australia and the Bank of Canada resumed their rate hike strategy unexpectedly last week for the sake of their inflation target, having previously pledged a pause. The European Central bank (ECB) could follow suit on Thursday at […]
Boeing has managed to record a new 2023 high, just above the February 14, 2023 high of 221.01. The most recent move appears to be a product of both the convergence of the 50- and 100-day simple moving averages (SMAs) and the symmetrical triangle, which has formed over the past three months. Actually, the stock is on […]
The Bank of Japan will announce its rate decision early on Friday. Even though the economic data pulse has improved significantly, there isn’t much scope for any policy changes, because most officials believe this strength won’t last long. The yen could suffer a minor blow in case the BoJ does nothing, although the currency’s overall […]
EURUSD had been repeatedly rejected just shy of the 1.0800 region in the past few days. However, a softer-than-expected US CPI print released earlier today enabled the pair to cross above that tough barrier, but bulls should not get excited just yet. The momentum indicators currently suggest that bullish forces are strengthening near their overbought zones. […]
Google fell sharply last Wednesday, after hitting resistance at 129.40. However, the decline stopped near the 122.20 zone, where the stock found buying interest just yesterday. Overall, Google continues to trade above the tentative uptrend line drawn from the low of March 13 and also above all three of the plotted moving averages. This keeps […]
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EURAUD’s drop continues, cancelling out most of the upward move recorded since the March 6, 2023 bullish breakout. The pair is hovering just above the 1.5831 level as a pattern of lower higher and lower lows is in place. This raises the possibility of a small upleg from current levels, setting the scene for an even […]
We’re pleased to announce the winners of our Gold Dhamaka Promotion that ended on May 31, 2023. Three lucky traders won gold prizes worth INR 350,000 and hundreds of others across India won amazing cash prizes! Due to the high number of winners, we’ve only listed the 3 gold prize winners and 10 of our […]
All eyes on US inflation data today, could influence Fed decision Dollar slips, sterling jumps after jobs data, stocks power higher China cuts interest rates, crash in oil prices warns of soft demand US inflation in focus Global markets are about to encounter turbulence today with the release of the US CPI report for May. […]
EURGBP rebounded yesterday after triggering some buy orders near the 0.8545 zone, marked as support by the low of December 1. That said, the pair remains below the upward sloping line drawn from the low of March 7, which implies that yesterday’s recovery may be just a corrective bounce within the broader downtrend. Both the RSI […]
