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 […]
It was a great honour to have been a Silver Sponsor of Jalisco Talent Land 2023, that took place from April 10 to April 14, in Guadalajara, Mexico. Two of our top instructors, Christian Borjon (from Mexico) and Felipe Erazo (from Colombia), took to the Finance stage to present the topics of “How to trade […]
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 […]
EURJPY had been in a strong uptrend, which ceased at a fresh 15-year high of 151.60 in early May before the pair corrected lower. Although it quickly found its feet and attempted a rebound, the price failed to revisit its recent multi-year peak, potentially forming a structure of lower highs but also higher lows. The […]
The US 100 index has recorded a new 2023 high and it is currently hovering around the highest level since April 6, 2022. The rally since the March 13, 2023 low has been almost exponential, but similar to the increases seen in other stock indices. The bears are clearly hoping for a correction, but their […]
GBPUSD turned red on Monday after marking a one-month high of 1.2598 near the long-term resistance trendline, which has been capping bullish actions since the June 2021 high. The pair switched back to recovery mode early on Tuesday, with the technical indicators reflecting appetite for a bullish breakout. The RSI is trending higher and is above its 50 […]
In May 2023 we arranged an intimate Hari Raya Open House for VIP XM partners and their beloved families. This exclusive gathering served as a joyous occasion to honor the spirit of Raya while expressing our gratitude to our steadfast friends who have supported us throughout the years. The ambiance brimmed with energy as our […]
USDJPY has been generating a structure of lower highs but higher lows after peaking at the 2023 high of 140.92 in late May. In the near term, the price has been trading sideways as the 50-period simple moving average (SMA) and the upper end of the Ichimoku cloud have repeatedly capped its upside. The short-term oscillators currently suggest […]
GBPUSD has been in a recovery mode since May 26, when it triggered buy orders near the key support territory of 1.2340 that acted as a strong resistance zone before being broken to the upside on April 3. The fact that the pair remains above that zone and above all three of the plotted moving […]
EURUSD has been experiencing a downside correction after peaking at the 13-month high of 1.1094 in late April. In addition, the pair sliced through both its 50-day simple moving average (SMA) and the ascending trendline that connected its lows since September 2022, while its latest attempts for recovery have been repelled just shy of the 1.0800 […]
The JP225 cash index is hovering a tad below the all-time high of 32,705 as the bulls have successfully managed to limit the bearish pressure. It has been an explosive 32% rally from the March 15, 2023 low with almost no corrections taking place. The move appears to be overstretched and maybe a small pullback […]
It will probably be the most important week of June as the Federal Reserve (Fed), the European Central Bank (ECB), and the Bank of Japan (BoJ) will review their rate policy amid an uncertain global macroeconomic environment. The decision might be a close call between a pause or another rate hike for the Fed if […]
The time has come to announce the winners of our 2023 Trade for Cash Promo that ended on May 31. 10 lucky winners enjoyed cash prizes credited as equity to their trading accounts, as part of our efforts to reward our South Korean clients for their trust and support. The winners and their prizes are […]
With the hawkish RBA paving the way for the remaining central banks that hold their respective meetings this week, the focus domestically turns to incoming data releases. Could the aussie bulls feel confident in continuing the recent rally against the US dollar towards the 0.6797 area? RBA rate hike still impacting market sentiment Last week’s […]
We’re beyond excited as we gear up for Social Area launch date. This new platform is an innovative addition to our services. It aims to revolutionise the way our traders connect, learn, and compete with each other. The Social Area’s 3 key features are: Competitions: Traders will be able to participate in competitions to test […]
Massive week begins, featuring rate decisions in US, Europe, and Japan US inflation report also on tap tomorrow, could influence Fed decision Yen hits seven-year low against pound, Turkish lira goes into freefall Calm ahead of key events A bombshell week lies ahead for global markets. Interest rate decisions in the United States, Eurozone, and […]
Gold experienced a mild pullback after peaking at the all-time high of 2,079 in early May, falling beneath its 2,000 psychological mark and the 50-day simple moving average (SMA). Although bullion managed to halt its retreat at the 2½-month low of 1,932, it has been trading sideways for the past three weeks. The momentum indicators currently suggest that […]
EURCHF is hovering around the 0.9706 level, a tad below the rectangle that has been dominating the price action since October 13, 2022. However, as the price move following the recent bearish breakout has been very weak, there are increased chances of a rebound back inside the rectangle. That would potentially be significant from a […]
USDCHF corrected sharply lower to 0.8988 on Thursday, posting its largest daily decline since March after being unable to enter the 0.9100 area successfully. The pair is set to post its first loss after four consecutive positive weeks. The pair left a short-term bullish channel, but the 0.8980 zone and 50-day simple moving average (SMA) might limit […]
The Bank of England doesn’t meet for another couple of weeks and there is quite a bit of data for traders to sift through until then, including employment and GDP numbers for April. The employment report is out on Tuesday followed by the GDP estimate on Wednesday, both due at 06:00 GMT. With inflation still […]
During this week, the cryptocurrency markets experienced significant swings following the US Securities and Exchange Commission’s (SEC) lawsuits against two of the largest exchanges in the industry, Binance and Coinbase. Interestingly, Bitcoin seems to have shrugged off those regulatory risks as it managed to erase the biggest part of its initial slump. Is this a […]
Gold got stuck around the resistance trendline that has been blocking bullish actions over the past month at 1,963 following another strong bounce near the 1,938 floor. The technical indicators in the four-hour chart provide no clear direction. Hence, traders may wisely wait for the price to close above the trendline and the 23.6% Fibonacci retracement level […]
A bombshell week is coming up, featuring rate decisions in the United States, Eurozone, and Japan. The Fed is likely to ‘pause’ according to market pricing, but the decision might ultimately depend on the inflation stats that will be released the previous day, fueling volatility in the dollar. By contrast, there isn’t much scope for […]
The FOMC will announce its interest rate decision on Wednesday at 18:00 GMT, with most market participants anticipating the Committee to hit the brakes on rate increases for the first time since March 2022. Having said that, market expectations could very well change just the day before the decision, when the US CPIs for May […]
US weekly jobless claims hit highest in 1½-years, boosting Fed pause bets Tech stocks find reason to celebrate as yields decline but China weakness weighs Dollar skids but steadier today, aussie leads FX weekly gains Jobless claims lift spirits ahead of big week Market expectations for a Fed pause received a slight boost on Thursday, […]
GBPJPY picked up steam to extend its uptrend towards the 2016 high of 175.00 and further above its exponential moving averages (EMAs) early on Friday. The RSI and the stochastic oscillator are hinting at overbought conditions in all timeframes, warning that the bullish wave in the price is nearing a peak. The pair also seems to be […]
