US 500 cash index trades sideways today after strong rally Impressive weekly rebound amidst key market events Momentum indicators cautiously supportive of current upleg The US 500 cash index is trying to record its fifth consecutive green candle and further increase the 5% jump recorded this week. It is now preparing to test the resistance […]
Dollar slides as Fed pours more cold water on hike expectations Spotlight turns to US employment report for October Pound receives little boost from BoE’s hawkish hold Wall Street cheers potential interest-rate peak, earnings help Dollar on the back foot ahead of NFP report The US dollar traded lower against all the other major currencies […]
USDCAD in the red after reaching 3-year high Aggressive rally since the July 14 low of 1.3091 Momentum indicators appear to support the current downleg USDCAD is moving lower today, registering its third consecutive red candle after trading at a 3-year high of 1.3898. It has been an aggressive rally from the July 14 low […]
GBPUSD cannot sustain strength above 1.2200 Short-term outlook remains grim Bank of England holds interest rates and guidance steady The Bank of England’s decision to keep interest rates and its guidance for “higher for longer rates” unchanged on Thursday prevented GBPUSD from breaking out of the bearish channel at 1.2170 or from rising above the broken […]
Share price jumps more than 10%, hits 200-day SMA But formation of doji candlestick raises doubts about new uptrend Starbucks stock shot higher on Thursday, opening with a gap higher, after the company reported much stronger-than-expected earnings results for the third quarter. The jump has taken the price above all the simple moving averages (SMA). However, […]
RBA could announce a 25bps rate hike at its November meeting Hawkish bias could be maintained if quarterly forecasts revised higher Aussie/dollar’s current upleg could pick up speed after RBA meeting The meeting statement will be released on Tuesday at 03:30 GMT RBA ready for action The Reserve Bank of Australia is preparing for its 10th rate-setting meeting for 2023. […]
Bitcoin posts fresh 18-month high on Thursday Fed’s neutral stance boosts risk sentiment Are cryptos reestablishing correlation with traditional assets? Cryptos shine as Fed holds rates unchanged Unlike what has been happening lately, macroeconomic forces were the main drivers behind moves in the cryptocurrency space this week. Specifically, Bitcoin and most altcoins surged after the […]
US 100 gains bullish impetus after bouncing near 200-SMA Short-term bias shows improvement, but uncertainty remains A bullish reversal or a dead cat bounce? The US 100 stock index (cash) picked up steam on Wednesday, extending its bounce off a five-month low of 14,057 to a high of 14,833. The price is currently aiming for […]
XM could not be prouder of the assistance we provided to the Manny Pacquiao Foundation, on September 28. Our donation will go to an extremely noble cause, supporting the Cameleon Association, which specializes in the care and rehabilitation of young girls who have been unfortunate victims of abuse and exploitation. By being provided with counselling […]
GBPAUD erases latest rebound ahead of BoE rate decision Bearish bias strengthens; focus turns on 200-day SMA GBPAUD surrendered all its October gains following the rejection near its 50-day simple moving average (SMA), and is currently flirting with September’s low of 1.8856. The 200-day simple moving average (SMA) is also in sight at 1.8795, as […]
Powell signals Fed is likely done hiking rates, sparking relief rally Wall Street cheers Powell’s balanced tone, but dollar stays resilient as yields tumble Pound steady ahead of Bank of England decision Fed asks “should we hike more” The Federal Reserve left interest rates unchanged on Wednesday as expected, citing tighter financial conditions as a […]
Gold pulls back to rest near 1,985 key zone Daily oscillators detect slowing upside momentum A break lower could signal the metal’s return within a broader range Gold has been in a retreat mode since October 30, after hitting resistance near the 2,010 zone. The metal has seen massive gains due to concerns surrounding the […]
GBPUSD slightly higher today as market digests Fed meeting It tests again the July 14 aggressive descending trendline Momentum indicators remain muted ahead of next key event GBPUSD is trading slightly higher, testing the resistance set by the July 14 downward sloping trendline that has defined the downleg since the July 14 high at 1.3141. The […]
WTI futures decline after rejection at 50-day SMA Found their feet around the 80.00 handle, forming potential double bottom Momentum indicators deep in the negative zone WTI oil futures (December delivery) have been on the retreat since their October peak of 89.85. In the near term, the price’s repeated inability to conquer the 50-day simple moving average (SMA) […]
Apple stock battles with 200-day SMA ahead of Q3 earnings Dropped to its lowest since May before recouping some losses Oscillators improve but still in negative zone Apple’s share has been in a clear downtrend after recording a fresh all-time high in mid-July, dropping below its 200-day simple moving average (SMA) for the first time […]
USDCHF edges lower today after a strong upleg July 27 ascending trendline acts as resistance at this stage Momentum indicators point to weakening bullish pressure USDCHF is edging lower today after nine consecutive green candles. A similar move took place during September and pushed USDCHF to a 6-month high of 0.9243. The July 27 ascending […]
BTCUSD surged above 35,000 to its highest since May 2022 Has been flat since then, forming a pennant pattern Momentum indicators remain within overbought territories BTCUSD (Bitcoin) has experienced a massive rally driven by speculation around the approval of spot-Bitcoin ETFs, which sent the price to a fresh 18-month high of 35,187. However, the leading cryptocurrency has […]
US employment growth expected to slow down in October Dollar retreats ahead of the event but outlook remains bright Nonfarm payrolls to be released at 12:30 GMT Friday US outperforms It’s been a strong year for the United States. Despite a sharp slowdown in manufacturing and sky-high interest rates limiting access to credit, the […]
Yen nears October 2022 lows against dollar on BoJ disappointment Will a hawkish Fed trigger a yen intervention episode? Gold, oil retreat as Middle East fears ease Wall Street closes in the green ahead of Fed decision Dollar/yen defies gravity after BoJ decision The dollar traded higher against all the other major currencies on Tuesday, […]
NZDUSD halts latest decline at a fresh 1-year bottom of 0.5772 Trades without a clear direction in the past week Momentum indicators remain tilted to the bearish side NZDUSD has begun another round of weakness following the steep retreat from its October highs just a tad above the 50.0% Fibonacci retracement of the 0.5510-0.6535 upleg. Although […]
XM has once again partnered with the Nobles Charitable Foundation and the Shareteah Humanitarian Organization in Iraq to support homeless and orphaned children from Baghdad and Dohuk stay in education. This year, in addition to donating towards school supplies like bags, notebooks, stationery and uniforms, we have also supported funding the creation of library centres. […]
USDJPY edges lower after Tuesday’s sizeable rally Heightened risk of intervention as USDJPY is comfortably above 150 Mixed momentum indicators complicate the outlook The lack of JPY-positive announcements at Tuesday’s BoJ meeting opened the door to a sizeable move in USDJPY. It bounced off the lower boundary of its medium-term upward trending channel and now […]
EURUSD bears jump into the action from near 1.0665 again Short-term oscillators point to no clear directional momentum But as long as the pair remains below 1.0665, the slide could continue EURUSD traded higher on Tuesday, extending Monday’s recovery, but the advance was stopped again near the key resistance territory of 1.0665, slightly above the […]
Apple reports Q3 financial results on Thursday after closing bell Revenue expected to contract but earnings will pick up Share price fell below 200-day SMA for the first time since March Solid year but financials lag The most valuable publicly traded company in the world has been exhibiting a strong performance in 2023, with its share […]
We’re thrilled by the success of our 2 seminars in Mexico this September. It was an exciting and fulfilling experience to welcome traders in Mexico City and Oaxaca, for two fantastic seminars with renowned LATAM trading instructor, Christian Borjon. The ‘Trading from Zero’ seminar introduced attendees to the basics of forex and the financial markets. […]
Nvidia’s stock prints bearish trend pattern 400 could be critical for a negative reversal Nvidia’s stock has formed a bearish head and shoulders pattern near its all-time high of 497.90. This suggests that the upward trend of almost one year may be over. The negative structure is not officially approved as the bears have […]
EURCHF continues to edge aggressively higher It tests the support set by a long-term descending trendline Momentum indicators point to further upside EURCHF is edging higher again today, continuing on the strong uptrend that commenced after the pair registered its lowest level since September 26, 2022. EURCHF is actually recording six consecutive green candles for […]
EURGBP moves further away from the upper end of a prior range Both the MACD and the RSI indicate positive momentum These signs paint a cautiously positive short-term picture EURGBP bulls have gained the upper hand this week, distancing themselves from the key barrier of 0.8700, fractionally above which the pair has been oscillating since […]
Bank of Japan adjusts yield curve control policy again, but yen skids Yields edge lower after Treasury Department says will borrow less in Q2 Dollar mixed, euro extends gains, stocks perk up Yen not impressed by BoJ’s incremental move The Bank of Japan took another step towards policy normalization on Tuesday, tweaking its yield curve […]
The Bank of England meets as geopolitical developments affect market sentiment Another pause is priced in but Wednesday’s Fed gathering could unsettle expectations The statement is set for Thursday 12:00 GMT; press conference 30 minutes later Calendar also includes the final Manufacturing and Services PMI prints Data since September have been on the weak side With […]
