USDJPY came under weak selling pressure after peaking at a six-month high of 140.91 on Monday, with the pair set to close in negative territory for the first time in three weeks. The RSI and the stochastic oscillator are warning that the bulls are running out of fuel as the indicators are changing direction below […]
EURUSD faced a flash correction to a new two-month low of 1.0671 on Tuesday, but it quickly recouped its losses to trade back in the 1.0700 zone. The pair aims for an upside correction slightly above the 200-day exponential moving average (EMA), as the RSI and the stochastic oscillator hint at overbought conditions. Yet, with the […]
Apple’s stock has been in a steep uptrend since late December, generating a structure of higher highs and higher lows. In today’s session, the stock had a gap up opening, jumping to its highest levels since March 2022 and battling with its upper Bollinger band. The momentum indicators currently suggest that bullish pressures are intensifying. Specifically, the […]
The ongoing US debt ceiling talks will keep everyone on their toes until the deal is passed, but USDJPY may get extra volatility on Friday if nonfarm payrolls shed more light on what the Fed’s June policy decision will be. Eurozone’s CPI inflation figures might challenge the exciting bull run in EURJPY, while Australia’s monthly […]
The US dollar has been firing on all cylinders lately, capitalizing on bets that the Fed will raise rates one final time this summer. Yet, Fed officials seem split on whether more tightening is needed. This puts more emphasis on the upcoming nonfarm payrolls on Friday. Most signs point to another solid employment report, which […]
BTCUSD (Bitcoin) had been generating a structure of lower highs and lower lows after peaking at the 10-month high of 31,064 in mid-April. Nevertheless, after two weeks of consolidation, the king of cryptos spiked to the upside, with the price temporarily jumping above its 50-day simple moving average (SMA) before paring some gains. The momentum indicators are […]
The UK 100 cash index has been trading sideways over the past few trading sessions, as it has returned inside the 7,599-7,689 range that acted as strong resistance during the January-December 2022 period. This area was eventually broken forcefully in January 2023, but it has now come into play again. In addition, a series of […]
EURJPY had been in a strong uptrend, which ceased at a fresh 15-year high of 151.60 in early May and the pair corrected to the downside. Even though it quickly found its feet and stormed back higher, the latest rebound seems to have faltered just shy of the recent high, potentially forming a double-top pattern. The […]
GBPUSD opened the week on a neutral note, consolidating its bearish correction from a one-year high within the 1.2300 zone. According to the technical picture, the sideways move could be temporary within the bearish wave. The downfall below the 20- and 50-day simple moving averages (SMAs) and beneath the former 1.2445 ceiling could motivate more selling in […]
Dollar continues to recover ground, bolstered by Fed bets Gold falls to 6-week lows as debt ceiling deal spreads relief Stocks set to open higher, despite looming liquidity drain Euro/dollar grinds lower There’s been a change of fortune for euro/dollar this month. A cascade of cheerful US data releases has convinced traders the Fed will […]
A week before the monthly RBA meeting and the aussie is trying to recover some of its recent losses. For this tendency to accelerate, it needs a good set of data releases this week, and predominantly a stronger monthly CPI. However, the overall environment is not supportive of hawkish market repricings, making the aussie bulls’ […]
AUDUSD traded lower today after triggering some selling orders slightly below the downtrend line drawn from the high of May 10. In the bigger picture, the pair is not only trading below that line, but also below the key area of 0.6625, which acted as the lower boundary of the sideways range that contained most […]
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The US dollar index (June Futures) has been in a steady recovery after bouncing off the one-year low of 100.44 in April. Nevertheless, the recent advance has stalled in the last couple of daily sessions, hinting that the index has reached overbought conditions. The momentum indicators currently suggest that buying forces are strengthening near their overbought territories. Specifically, the MACD […]
From May 8th to the 10th our team in South Africa was at the first ever Finance Magnates Summit (FMAS:23). XM was there as Diamond Sponsor, and during the summit, we were honoured with the Best Customer Service in Africa award. The summit was an invaluable opportunity to connect with traders, investors, partners, educators, affiliates, […]
The US 500 stock index (cash) has been in an uptrend since mid-March, slicing through crucial technical regions such as its 50- and 200-day simple moving averages (SMAs). In addition, the index jumped to a fresh nine-month high of 4,232 in today’s session before paring some gains. The short-term oscillators are endorsing the latest upside move. Specifically, the […]
Another week has just started, and it is another test for the ECB’s commitment to deliver price stability. With growth slowing down considerably, as seen at last week’s weaker business surveys, the focus turns to inflation figures. Could a mixed set of data create second thoughts at the ECB and put a (temporary?) stop to […]
GDP figures due on Wednesday (12:30 GMT) are expected to show that growth in the Canadian economy likely accelerated in the first quarter of 2023. The report will be the last major one before the Bank of Canada’s June 7 policy meeting. After a string of better-than-expected data lately, can upbeat GDP numbers sway policymakers […]
On May 13, we held a trading seminar in Tashkent on mixing and matching indicators to unlock new trading opportunities. Participants learned the best ways to generate strong trading signals, and promptly take advantage of every price movement, from the CEO & founder of Zeta Invest, Mr. Jamshid Karimov. Attendees had the chance to grab […]
Biden and McCarthy find common ground, deal ready for Congress vote Dollar takes a breather, but summer hike bets increase Turkish lira slips to new record low as Erdogan secures victory Wall Street gains, mainly driven by chip stocks Biden and McCarthy agree to suspend debt ceiling until 2025 The dollar traded lower against most […]
Gold experienced a remarkable surge since early March, surpassing some crucial technical levels to peak near the all-time high of 2,079 in early May. However, bullion has been in a steady downtrend since then, falling beneath its 2,000 psychological mark and creating a bearish structure of consecutive lower lows. The momentum indicators currently suggest that […]
EURUSD switched to recovery mode after its bearish wave from a one-year high stabilized around a two-month low of 1.0700 on Friday. Interestingly, the 61.8% Fibonacci retracement zone of the previous bullish run cemented that floor. Technically, the pair needs to create a long green candlestick in order to confirm a bullish three-candle morning star […]
GBPUSD pivoted quickly higher to 1.2394 on the back of rising rate hike expectations in the UK following the plunge to a seven-week low of 1.2308. Technically, the pair staged another bullish correction within a tight, short-term bearish channel. Despite the bounce in the price, the technical picture in the four-hour chart cannot guarantee a bullish continuation. […]
Bitcoin and most major altcoins have lost ground this week, extending their corrections from recent highs. The main driver behind the latest weakness is the uncertainty regarding the debt-ceiling negotiations in the US, while solid macroeconomic data releases have increased bets for further rate hikes by the Fed. Is the 2023 crypto rally starting to […]
With investors flirting with the idea of one final Fed rate increase this summer and the dollar making a comeback, there will be increased emphasis on the next round of US employment data on Friday. Debt ceiling negotiations will also be front and center as the clock ticks down to a US government shutdown, while […]
USDCHF drifted down to 0.9017 after facing resistance around the familiar long-term constraining zone of 0.9070. The negative slope in the RSI and the Stochastic oscillator on the four-hour chart suggests market sentiment may remain downbeat in the coming sessions. The MACD has slipped back below its red signal line, increasing the likelihood of another leg […]
Fed rate cut bets continue to be priced out, all eyes on core PCE inflation US dollar softer today but still headed for third weekly gain Debt deal progress and AI buzz lift Wall Street, global equities Fed rate cut bets pushed back as summer hike seen certain The US dollar eased off two-month highs […]
GBPJPY has been stuck in an uptrend since the beginning of the year, generating a seven-year peak of 172.77 last Wednesday. However, the pair has been flat since then, appearing to be unable to extend its recent rally. The short-term oscillators currently suggest that bullish forces are waning but remain in control. Specifically, the RSI […]
AUDJPY is hovering around the 91 level, just a tad above a rather busy area that is key for market sentiment. This pair has actually been trading inside an aggressive upward sloping trend channel, but its upside is currently being capped by the 200-day simple moving average (SMA). Therefore, AUDJPY has failed to record a […]
We’re happy to have completed another successful seminar in Taipei on May 21, where traders learned to equip themselves against a recession and trade in any economic condition. Attendees were guided by renowned mentor Lewis Huang, who showed them how to build a solid trading strategy using short-term swing trading. Attendees learned the different stages […]
