The desire of the United States and China to make concessions and resume trade negotiations was perceived positively by the markets. Donald Trump promised to suspend the process of imposing sanctions. In addition, the US allowed Chinese Huawei to buy its technology, with the exception of strategic products associated with the G5 network. China, in […]
The exchange rate of the US currency is growing in relation to the majority of its main competitors against the background of the fact that over the past weekend the United States and China reached an agreement on the resumption of trade negotiations. “The market’s positive reaction to the results of the meeting of the […]
The Australian dollar paired with the US currency overcame the key resistance level of 0.7000 at the end of last week, demonstrating a strong upward momentum. For two weeks, the pair grew steadily, rising from an annual low of 0.6838 to a local peak of 0.7027. But the bulls did not manage to stay at […]
4-hour timeframe The amplitude of the last 5 days (high-low): 59p – 112p – 45p – 63p – 72p. Average amplitude for the last 5 days: 70p (77p). on Monday, June 27, the British pound sterling also fell against the US currency, as the index of business activity in the UK dropped compared with May […]
Since May 17, the depicted sideway consolidation range has been established between 1.2750 – 1.2570 with a prominent key-level around 1.2650. On June 4, temporary bullish consolidations above 1.2650 were demonstrated for a few trading sessions. This enhanced the bullish side of the market towards 1.2750 (consolidation range upper limit) which has been preventing further […]
The Organization of Petroleum Exporting Countries (OPEC) is meeting in Vienna, and the latest headlines suggest a nine-month extension of the existing production cuts is nearly certain. With OPEC’s output plans now clear, oil prices will take their cue from how the US-China trade talks and the situation with Iran unfold. Trade optimism may keep […]
Bitcoin gained bearish momentum which pushed the price to the level below $10,500. The price may decline towards the psychological area of $10,000 in the short term. The Bitcoin market has been stronger than ever, but its price is following the bearish bias inside the long-awaited correction. At the weekend, the market siggested the scenario […]
EURUSD has pulled back towards 1.13 as expected and explained in our past analysis. EURUSD could continue lower towards 1.1260 before it resumes its up trend. As long as price is above 1.1250 bulls will remain in control of the trend. Red rectangle – support area Green line – major support trend line EURUSD is […]
Gold price has broken below support of $1,400 and as we explained last week, it was vulnerable to a new downward wave towards $1,380-70 area. Price has reached our short-term downside target and important short-term support trend line. Red rectangle – support Blue rectangle – target Green line support trend line Gold price has reached […]
Industry news: European Central Bank (ECB) Governing Council member Klass Knot crossed the wires in the last minutes, reiterating that it was indisputable that inflation was still too low and the bank was determined to act if there were adverse scenarios. “We are still suffering from prolonged uncertainty,” said Knot and added that the outlook […]
CADJPY opened a gap up today, climbing above the 82.60 barrier and meeting the 50.0% Fibonacci retracement level of the downfall from 89.25 to 76.60 near 82.90. Having a look at the momentum indicators, the RSI is sloping up near the overbought threshold and the MACD is strengthening its momentum above trigger and zero lines. […]
Crypto Industry news: Since 2015, when bitcoin became an issue for regulators like the state of New York, the regulation of cryptocurrency (the G20 now calls it as a crypto asset) has been discussed in many places, mainly at bodies like the Financial Stability Board (FSB) and the Financial Action Task Force (FATF). However, Facebook’s […]
Overview: The EUR/USD pair continues to move upwards from the level of 1.1371. Yesterday, the pair rose from the level of 1.1324 to a top around 1.1420. Today, the first resistance level is seen at 1.1441 followed by 1.1484, while daily support 1 is seen at 1.1324 (61.8.% Fibonacci retracement). According to the previous events, […]
FXTM Research Analyst, Lukman Otunuga, rounds up all the key market events for this week and pinpoints what traders might look out for ahead, including: • A sense of relief across financial markets after US/China restart trade talks • US Manufacturing #PMI in focus • Gold knocked below $1400 For more Market Analysis read the […]
The US 30 stock index is currently challenging June’s peak of 26,907 but the positive momentum in the MACD, which trends above its trigger line, signals that a new record high could be achievable as well in the next few sessions. Still, the RSI warns that the market is approaching overbought territory and hence downside corrections cannot be […]
The introduction of additional tariffs on Chinese imports at the beginning of May brought down the USD/JPY quotes below the psychologically important mark of 110. The 5% duty on Mexican imports pushed them below 108.5 due to migration problems. If Donald Trump and Xi Jinping could not agree on the sidelines of the G20 summit […]
The G20 summit did not bring any significant changes in the topic of trade negotiations between Washington and Beijing. The parties only agreed on the continuation of the very fact of the negotiation process, which is not yet clear in what form it will take place, and agreed on a prolongation of the moratorium on […]
With a single European currency, the pound almost the entire past week. Of course, they dropped in price synchronously on Tuesday but it turned out to be almost unnoticed against the general background and was more of a banal technical rebound after the impressive growth of the previous week caused by the outcome of the […]
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For the third consecutive year since 2017, UK-based World Finance has yet again acknowledged XM in recognition of its long-standing reputation for excellence in the financial industry by granting it as many as two prestigious awards. At the 2019 World Finance Forex Awards XM received two high accolades: for the third year running we were […]
The Reserve Bank of Australia is widely anticipated to lower its cash rate for the second straight meeting when it announces its next policy decision at 0430 GMT on Tuesday. After cutting rates for the first time in nearly three years in June, the RBA is expected to ease policy again amid a cooling global […]
China and the United States agreed to return to the negotiating table during the G20 summit in Osaka. US President Donald Trump expressed his willingness to reduce the pressure on Huawei and postpone the introduction of new duties for at least six months. In turn, China agreed to resume purchases of American agricultural products. The […]
Risk Warning: 71.42% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. Please consider our Risk Disclosure: https://www.xm.com/goto/risk/en Risk warning is correct at the time of publication and may change. Please check our Risk Disclosure for […]
Gold prices have reversed back down again after finding resistance at the six-year high of 1439 at the end of the preceding month. Currently, prices are developing within the Ichimoku cloud and the red Tenkan-sen and the blue Kijun-sen lines are pointing down, suggesting more losses. The 20- and 40-simple moving averages (SMAs) posted a […]
Euro: Growth under pressure. The euro is in a growth trend against the dollar, but on Monday morning we see a corrective decline – up to 1.1250, this is within the correction. The Trump-China deal happened over the weekend, stopping the trade war at least for a time. The new week has a lot of […]
EUR / USD On Friday, June 28, trading ended again for EUR / USD without any exchange rate changes. The foreign exchange market kept a close eye on any reports from Osaka, where the G-20 summit took place. Actually, the market was most interested in possible negotiations between Beijing and Washington at this summit. Donald […]
Risk Warning: 71.42% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. Please consider our Risk Disclosure: https://www.xm.com/goto/risk/en Risk warning is correct at the time of publication and may change. Please check our Risk Disclosure for […]
Risk Warning: 71.42% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. Please consider our Risk Disclosure: https://www.xm.com/goto/risk/en Risk warning is correct at the time of publication and may change. Please check our Risk Disclosure for […]
Trade ceasefire propels stocks and dollar higher, sends safe havens lower Oil rejoices on trade truce and OPEC agreement ISM manufacturing PMI today may be crucial for Fed expectations Risk sentiment lifted as Trump & Xi decide to restart trade talks The pivotal meeting between the American and Chinese leaders concluded with a market-friendly outcome, […]
To open long positions on EURUSD you need: The decision of the two leaders to continue working on the agreement led to a fall in the EUR/USD pair. The trend is gradually changing. Therefore, at the moment, it’s best to expect long positions after updating larger support levels around 1.1311 and 1.1284, but the main […]
