Following the two-day talks, the United States and China did not reach a trade agreement. Immediately after this, US President Donald Trump stated that the United States and China had direct and constructive discussions on the status of their trade relations, but whether the duties would be retained or abolished depends on what happens next […]
The euro-dollar pair ended the previous week at around 1.1232, that is, above the Bollinger Bands average line and above the Tenkan-sen and Kijun-sen lines (on the daily chart), while the Ichimoku indicator formed a “Golden Cross” signal which cautioned a possible trend reversal. That is, from a technical point of view, the pair retained […]
Morning Report: 07.00 London This morning, the Japanese yen and Swiss franc are strong as safe havens rise in demand. The China-US trade deal differences appear to be widening despite Trump’s reassurances. US CPI also came in below estimates on Friday. The USD/JPY has gapped below 110.00 to trade at 109.70 this morning. The AUD/JPY […]
Morning Report: 07.00 London With US-China trade talks appearing on shaky ground, the Japanese yen continues to find buyers looking for a safe harbour. The yen pairs are firmly on the back foot, with the USD/JPY dropping for the fifth straight day. The AUD/JPY is also continuing its slump, heading for its lowest levels since […]
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% […]
EURUSD has tried to break above the 1.1230-1.1260 resistance area but thus far price seems unable to break through resistance. Momentum favors the break out but as long as we trade below 1.1260 we continue to trade inside a medium-term bearish channel. Red lines – bearish medium-term channel Blue rectangle – important horizontal resistance Black […]
Gold price has broken above the short-term top at $1,288-91 area and has reached the pivot level of $1,300. Managing to hold above it will open the way for a move towards $1,350. Failure to maintain bullish momentum will lead to a sharp rejection and reversal. So far the bullish scenario prevails. Green rectangle – […]
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 as well as the backside of the depicted broken uptrend line demonstrated significant […]
The UK jobs report is due out on Tuesday (09:30 GMT) and forecasts point to a slowdown in wages, which may weigh on the pound a little. In the bigger picture, the risks around sterling also seem tilted to the downside, as any breakthrough in the cross-party Brexit talks seems unlikely, and May’s premiership is […]
Gold has been trading upwards as we expected last week. The price tested the level of $1.299. There is still space for more upside so you should watch for buying on the pullbacks. According to the Daily time – frame, we found that there is the breakout of the 5-day balance and break of key […]
GBP/USD is trading upwards today and the price tested the level of 1.3040. Anyway, be careful when buying due to potential downward continuation on the larger scale. According to the H4 time – frame, I found that there is breakout of the bearish flag and rejection of the medium Keltner EMA, which is sign that […]
Overview: 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 in a […]
Overview: The GBP/USD pair continues to move upwards from the level of 1.2988. Last week, the pair rose from the level of 1.2865 to a top around 1.3184 but it rebounded to set around the spot of 1.2988. Today, the first resistance level is seen at 1.3060 followed by 1.3184, while daily support 1 is […]
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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: •Markets on edge at prospect of retaliation from China •Economic data from the United States and United Kingdom in focus •Will #Gold shine this week? For more Market Analysis read […]
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 […]
As with last week, traders will focus on the deteriorating relations between the US and China. Last week, the US imposed tariffs on Chinese goods worth more than $200 billion. China said that it will retaliate but its options are relatively limited. This week, the Trump administration is set to release a list of $300 […]
On Friday, Canada released its jobs numbers that beat the consensus estimates. In April, the country added more than 106,500 jobs, which was the biggest gain since 1976 when the government started collecting the data. This number was higher than the 19K that analysts were expecting. This job creation led the unemployment rate to decline […]
On Friday, the much-anticipated IPO of the year happened. Uber raised more than $8.1 billion in an OPO that valued the company at more than $72 billion. As the shares started trading, things changed and the stock tanked by 5% making it the worst-performing IPO of the past few years. This is despite it being […]
Gold prices have been developing within a consolidation area over the last month, with upper boundary the 1290 resistance level and lower boundary the 1266 barrier. Currently, the price hovers beneath the 23.6% Fibonacci retracement level of the downleg from 1346.60 to 1266, around 1285 as well as between the 20- and 40-simple moving averages (SMAs). […]
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Trade tensions continue to simmer as China pushes back on US demands But two sides agree to hold more talks, keeping risk-off in check Safe-haven currencies such as the yen and the Swiss franc rise along with US government bonds US threatens new tariffs as talks with China stall US and Chinese negotiators failed to […]
On 12th June, one of the largest Italian financial exhibitions, ITForum Rimini 2019 opens its doors for a two-day event series, where XM will participate as event exhibitor. Since 2013, this will be the fourth year now for XM to attend ITForum Rimini, which takes place at Foyer A of Palacongressi di Rimini on 12-13 […]
Crypto Industry News: The US Department of Justice has issued an indictment containing fifteen charges against the community hacker group responsible for stealing cryptocurrencies through SIM-swap. US Attorney General Matthew Schneider and his colleague from the US immigration and customs office Angie Salazar have filed charges in the east of Michigan. On behalf of Salazar, […]
Crypto Industry News: The Banking, Housing and Urban Affairs Committee of the United States is looking for information on the cryptocurrency project reported by Facebook. The Committee addressed its concerns to the founder and president of Facebook, Mark Zuckerberg. The Committee highlights certain aspects of consumer protection by asking Zuckerberg how the company plans to […]
Technical Market Overview: The GBP/USD pair has tried to break through the trendline resistance around the level of 1.3039, but the rally higher was a fake one and the market returned quickly to the range zone. It means, that despite the neutral momentum the bulls are still trying to get back the control of the […]
Bitcoin recently was rejected off $7,500 within an impulsive non-volatile bullish trend. The price is currently trading at near $7,000 making a correctional decline in a volatile manner. The world’s largest cryptocurrency hit a new yearly peak at $7,568.32, thus bringing its year-to-date net rebound up to 140 percent according to San Francisco-based Coinbase exchange. […]
Technical Market Overview: The EUR/USD pair has bounced from the level of 1.1173 and is slowly moving higher towards the technical resistance located at the level of 1.1264. The move up is not impulsive, but it is still corrective in nature, so it is not the beginning of an uptrend, but the continuation of the […]
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 […]
