Gold price has made no progress today either to the upside or the downside. Gold price remains above the broken trend line resistance. Gold price has recently given a bullish sign, however price remains below the critical $1,300 level. Black line – resistance Green line – support Blue horizontal line- support Gold price is trading […]
EURUSD today bounced strongly back towards the broken support trend line and after back testing it price got rejected. Price action today gave another short-term bearish signal for EURUSD as bulls could not push price above 1.1230. Red line – upper bearish channel boundary Blue rectangle – horizontal support Black lines- short-term support trend lines […]
Few weeks ago, a bullish Head and Shoulders reversal pattern was demonstrated around 1.1200. This enhanced further bullish advancement towards 1.1300-1.1315 (supply zone) where significant bearish rejection was demonstrated on April 15. Short-term outlook turned to become bearish towards 1.1280 (61.8% Fibonacci) then 1.1235 (78.6% Fibonacci). For Intraday traders, the price zone around 1.1235 (78.6% […]
On March 29, the price levels of 1.2980 (the lower limit of the newly-established bearish movement channel) demonstrated significant bullish rejection. This brought the GBPUSD pair again towards the price zone of (1.3160-1.3180) where the upper limit of the depicted bearish channel was located. Since then, Short-term outlook has turned into bearish with intermediate-term bearish […]
The data in the first half of the day on the German economy and the eurozone maintained the downward momentum of the euro against a number of world currencies. Berlin managed to avoid a recession at the end of last year, but further upward momentum, which was formed in the 1st quarter of 2019, raises […]
Bitcoin prices have exploded higher lately, gaining over 50% this month, echoing the exponential moves back in its ‘heydays’. The latest buying frenzy seems owed to a combination of Chinese capital flight, growing retail adoption, and increasing institutional interest. In the big picture, sentiment around cryptos seems to be changing for the better. Digital currencies […]
Apple stock plunged to a six-week low of 184.60 after breaking the almost five-month old bullish channel to the downside. The risk remains negative in the four-hour chart as the price has also dropped well below the Ichimoku cloud, while the bearish crossover between the 20- and the 50-period simple moving averages (SMA) suggests the […]
BTC has been trading sideways at the price of $7.944. We see potential for the pullback and downward correction. According to the H4 time-frame, we found that there is momentum up decreasing, which is sign that buying looks risky. BTC is in extended run phase and potential pullback is expected. We found the bearish divergence […]
USD/CAD has been trading upside. The price tes ted the level of 1.3492. We are expecting more upside on the USD/CAD. According to the H4 time-frame, we found that there is the breakout of the bullish flag and the rejection of the 20EMA, which is sign for the potential upside continuation. There is also a […]
Gold has been trading upwards in pat 12 hours as we expected. The price tested the level of $1.299. We are still expecting upside. According to the H4 time-frame, we found that there is the breakout of the bullish flag and the rejection of the 20EMA, which is sign for the potential upside continuation. There […]
The mood of investors in world markets has somewhat improved on Tuesday due to new injections of “optimism” by the American president regarding negotiations with Beijing on trade. Trump has long been a newsmaker and conducts financial markets to his advantage. In recent months, a strong link has been established between Donald Trump’s actions as […]
Work in the current phase of correction involves the search for favorable prices for the sale of the instrument. The 1/2 WCZ of 109.98-109.89 will be the determining resistance. As long as the pair is trading below this zone, the bearish momentum will continue with a probability of 70% and update the May low. This […]
Wave counting analysis: On May 14, the GBP / USD pair lost another 55 basis points. Yesterday in the UK, reports were issued on unemployment (down to 3.8%) and on changes in average wages (a rise of 3.2%). The unemployment outlook was worse, and the wage was better. Thus, the overall news background was neutral […]
Wave counting analysis: On Tuesday, May 14, trading ended for EUR / USD by 20 bp lower. The volume of industrial production of the European Union in March decreased by 0.6%, while the sentiment index in the business environment of the ZEW Institute turned out to be completely negative (-1.6). Thus, the news support for […]
Overview: Pivot: 0.6605. The NZD/USD pair is showing signs of weakness following a breakout of the lowest level of 0.6648. On the H1 chart, the level of 0.6648 coincides with 23.6% of Fibonacci, which is expected to act as minor support today. Since the trend is below the 23.6% Fibonacci level, the market is still […]
Overview: The USD/CAD pair continues to move upwards from the level of 1.3457. The pair rose from the level of 1.3457 (the level of 1.3457 coincides with a ratio of 61.8% Fibonacci retracement) to a top around 1.3505. But it rebounded from the top pf 1.3505 to 1.3477. Today, the first support level is seen […]
Main news: China shows a slowdown in the economy in April. On all fronts are the data on production, retail sales and investment. Against this background, it is especially unpleasant for China given Trump’s increase in duties on Chinese goods from May 10 and the threat of new duties from June 1. The second important […]
Cocoa is a major agricultural commodity. Unlike tea and coffee, cocoa is viewed as a luxury among most people. As a result, the demand for cocoa-made products like chocolate has increased, partly because of the increased demand by Asia and other emerging markets. There is also demand in the developed countries of Europe and United […]
Soybeans is an important crop in the United States and China. The US is the largest producer of the crop while China is the biggest importer. Therefore, when the two countries get into conflict, the price of soybeans is usually the most affected. In the past one year, the price has been under pressure as […]
In the months to follow, XM continues with its educational program to cater for the needs of online investors eager to develop their trading knowledge and skills with professional guidance. Our next seminar is due to take place at The Athenee Hotel, a Luxury Collection Hotel in Bangkok on 6th July, featuring no less than […]
EURGBP has been in the green so far this month, fully recovering the sell-off towards the 0.85 level emerged at the end of April. The short-term risk is still positive as long as the RSI and the MACD strengthen in bullish area, yet some caution is likely needed as the Stochastics seem to be reversing lower in overbought territory (above 80). […]
The dollar continued its victorious rally against the single European currency and the pound. Blame for the next defeat, they must be exceptionally themselves. Thus, data on the labor market in the UK has rather showed a complete decline in the morale of personnel. Thus, the number of applications for unemployment benefits rose from 22.6 […]
For the last trading day, the euro / dollar currency pair showed low volatility of 43 points, but this amplitude was enough to overcome the newly formed cluster. From the point of view of technical analysis, we see that the previously formed accumulation of 1.1215 / 1.1250 was broken through by price, tightly fixing below […]
Today, traders are likely to focus on crude oil. Yesterday, Saudi Arabia reported that a number of its oil installations were under drone attacks. This led to the price of Brent crude oil rising sharply. This report came 48 hours after two if its tankers were struck. Others from the United Arab Emirates (UAE) were […]
Risk Warning: 71.61% 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 […]
The US-China trade war remains a major instability factor for world markets. Despite the fact that on Tuesday the trades were mainly held in the green zone, there is no hope for a positive outcome regarding the confrontation. China, by introducing retaliation against unilateral actions by the United States, demonstrates its determination to uphold its […]
Trend analysis (Fig. 1). On Wednesday, technical analysis demonstrates an upward movement. The first upper target of 1.2944 is the pullback level of 14.6% (yellow dotted line). Fig. 1 (daily schedule). Comprehensive analysis: – indicator analysis – up; – Fibonacci levels – up; – volumes – up; – candlestick analysis – up; – trend analysis […]
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Risk Warning: 71.61% 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: 71.61% 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 […]
