Gold has been trading sideways at the price of $1.302.00. Potential double top formation is in creation. According to the H4 timeframe, we have found potential end of the upward correction (abc flat) in the background. It signals the opportunity for the bearish trend to continue. There is also a potential double top formed at […]
Equity markets are still very strong. They consolidated slightly late February / early March, yet have since resumed higher. Yet, our hourly graphs are starting to look exhausted to the upside again, and by the end of the month (at the latest early April), we would probably expect the start on a 3 to 6 […]
On January 10th, the market initiated the depicted bearish channel around 1.1570. The bearish channel’s upper limit managed to push price towards 1.1290 then 1.1235 before the EUR/USD pair could come again to meet the channel’s upper limit around 1.1420. Bullish fixation above 1.1430 was needed to enhance a further bullish movement towards 1.1520. However, […]
On January 2nd, the market initiated the depicted uptrend line around 1.2380. This uptrend line managed to push price towards 1.3200 before the GBP/USD pair came to meet the uptrend again around 1.2775 on February 14. Another bullish wave was demonstrated towards 1.3350 before the bearish pullback brought the pair towards the uptrend again on […]
It will be an action-packed week for the British pound. The UK Parliament could vote on PM May’s deal for a third time, the Bank of England (BoE) will announce its decision on Thursday, while key economic data will be released throughout the week. As always, politics will probably dominate economics in driving sterling. While […]
BTCUSD is currently developing below the two-month high of 3994.20 and back near the flat red Tenkan-sen line. According to the momentum indicators some weakness could emerge as both the RSI and the Stochastics are losing steam after a peak in the overbought territory. Should the price extend higher, it could find immediate resistance at the 3994.20 level before touching the 4085 […]
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: • #FOMC and #BoE meetings in focus • #Dollar likely to weaken on dovish Fed • #Gold finds support above $1300 For more Market Analysis read the latest @ http://fxtm.co/marketupdate-yt […]
Soon after last year’s forex trading seminars provided to traders throughout the Philippines, in 2019 XM started a further educational event series for Filipino traders, the first two stops of which were Manila on 23rd February and Cagayan de Oro on 9th March. In both Manila and Cagayan de Oro, Jonathan Lou Reyes, Chief Instructor […]
The US 30 index recorded a bullish signal in the previous week, completing a golden cross within the 50- and the 200-simple moving averages (SMAs) in the daily timeframe. Today, though, the index is on the backfoot and the technical indicators suggest that the market could ease a little bit in the short-term. The stochastic oscillator is […]
On Friday, the US released important market data. The data showed that in January, job openings rose to 7.58 million, which was better than the expected 7.31 million. This data came a few days after the US released jobs numbers that missed the consensus estimate by far. The data showed that in February, the economy […]
Overview: The AUD/USD pair is set above strong support at the level of 0.7046 which coincides with the 23.6% Fibonacci retracement level and 0.7168. This support has been rejected four times confirming the uptrend. Hence, the major support is seen at the level of 0.7046, because the trend is still showing strength above it. Accordingly, […]
Overview: The EUR/USD pair is trading around the daily pivot point (1.1393). It continued to move downwards from the level of 1.1393 to the bottom around 1.1335. This week, the first resistance level is seen at 1.1393 followed by 1.1426, while the first daily support is seen at 1.1335. Furthermore, the moving average (100) starts […]
Risk Warning: 69.75% 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 […]
This will be an important week for the markets as the Federal Reserve officials meet for the third time this year. Here are the top highlights that traders need to watch out for. Boeing Boeing is likely to be in the news a lot this week. This is after more details of the two Boeing […]
The Swiss economy is having a challenging year. This has been caused by a slowing global economy, which has affected the external demand of the exports. In January, the country reported that the trade surplus had slowed to 1.897 billion Franc. Data from February showed that exports were reducing as well. In addition, inflation has […]
Risk Warning: 69.75% 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 […]
Last week, the EUR/USD pair showed quite clearly that technically the price were capped from moving further downward. The break below 1.1200 turned out to be false. Buyers prevented the price fall and nudged the price under the upper limit of the range. Investors do not view the Brexit agreement between the UK and the […]
Risk Warning: 69.75% 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: 69.75% 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 […]
US stocks rally to six-month highs but perhaps on option expiries – implying some cause for caution Dollar retreats in a quiet session; looks to Fed meeting on Wednesday Sterling catches its breath ahead of potentially decisive week US equities cruise to six-month highs on ‘quad witching’ In an otherwise quiet session, US stock markets […]
Gold is posting notable gains over the last 4-hour session, successfully surpassing its 20- and 40-simple moving averages (SMAs). While the price continues to trade within the Ichimoku cloud over the last week and the MACD oscillator keeps lacking momentum around its trigger and zero lines, the RSI is trying to frame a more positive picture for the […]
EUR/USD continues to respect support at 1.1290-1.13 and that is why the pair is making higher highs. There are some bearish divergence signs by the RSI but short-term trend remains bullish as long as price is above 1.13 and we could see 1.1380-1.1390 next for a test of the major resistance at 1.14. Blue line […]
Gold price is trading around important pivot level of $1,300. As long as price is above it there are many chances we see another run higher towards $1,322. Staying below $1,300 will open the way for another sell off towards $1,250. Blue lines – bullish channel Red line – RSI support trend line Gold price […]
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Technical market overview: The ETH/USD pair has failed to rally above the technical resistance zone located between the levels of 139.63 – 142.22 despite the new local high was made at the level of 143.51. The top for the wave (b) has been made and the bears took control over the market. The first technical […]
Battle of 61% Fibonacci retracement is still present Technical market overview: The BTC/USD pair has made a new local high at the level of $4,122 and then suddenly moved down towards the technical resistance located between the levels of $4,076 – $4,101. The bulls were too weak to move higher again. Hence, the price dropped […]
Technical market overview: The EUR/USD pair has been moving inside of the horizontal zone just above the 61% Fibonacci retracement at the level of 1.1326, bouncing from 50% Fibonacci retracement at the level of 1.1298 to the local resistance at the level of 1.1344. The market conditions are now overbought and there is a bearish […]
Technical market overview: The GBP/USD pair is still moving inside of the narrow zone located between the levels of 1.3207 – 1.3304 as the horizontal correction continues after a wide swing we witnessed last week. There is no important price or candlestick pattern present currently in this market that would indicate a possible breakout in […]
Morning Report: 07.00 London The US dollar index is on the back foot as traders eye a softer FOMC meeting on Wednesday. The dollar pairs are on the rise, helped by positive unilateral trade talks between China and European nations. The AUD/USD is on the rise, having broken through the 0.7100 level this morning. The […]
EURUSD has advanced considerably over the preceding week after the rebound on the 21-month low of 1.1175, challenging again its simple moving averages (SMAs) in the daily timeframe. The price surpassed the 23.6% Fibonacci retracement level of the downleg from 1.1570 to 1.1175, near 1.1325, but it continues to trade within a downward sloping channel. Technically, the RSI indicator […]
