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Latest Analysis

XM Research - 2 days agoBearish

Technical Analysis – EURUSD retains short-term negative trend

EURUSD trims recent gains ahead of US jobs data Short-term downward trajectory stays intact Bulls need a clear bounce above 1.0800   EURUSD could not sustain gains above the 1.0800 number and its 20- and 200-period exponential moving averages (EMAs) in the four-hour chart, staying within the tight bearish channel, which followed November’s peak of 1.1016. The latest pullback dampened hopes for a bullish reversal in the very short-term picture ahead of the all-important US non
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XM Research - 2 days agoNeutral

USDCHF stabilizes around 0.8750 after a strong sell-off Records a 4-month low but fails to test the early July lows Momentum indicators point to rising bullish pressure USDCHF is trading sideways today, a tad below the 0.8757 level, as the bulls are trying to regain market control after a very strong sell-off from the October 3 high of 0.9243. The most recent, less volatile, sessions show a degree of indecisiveness from market participants ahead of key market events.
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XM Research - 2 days agoNeutral

Technical Analysis – GBPJPY seeks buyers after worst day of the year

GBPJPY reverses October-November rally Oversold conditions detected after sharp drop Resistance at 181.45-182.00   GBPJPY crashed by 3.5% to 178.51 on Thursday before closing the day at 181.45, marking its worst daily session of the year. The pair faced heavy selling in the wake of renewed signals the Bank of Japan could exit its existing super accommodative monetary policy.
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XM Research - 2 days agoBearish

Technical Analysis – AUDUSD ends another year with negative mode

AUDUSD pulls back from 1-year downtrend line Strong resistance lines to test before switching the downtrend RSI and stochastic indicate more losses As the year 2023 is approaching its conclusion, AUDUSD is continuing the descending movement that started back in February 2021. Currently, the pair is testing the downtrend line, which has been drawn since January and the 50-week simple moving average (SMA).
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XM Research - 3 days agoNeutral

Technical Analysis – BTCUSD’s rocket rally runs out of steam

BTCUSD at the highest levels in more than a year Overbought conditions threaten a negative reversal Sellers could come back into play below 41,770   BTCUSD (Bitcoin) had a rocket start to the week, stretching its uptrend from September’s low of 24,915 to a one- and-a-half year high of 44,497 on Thursday before turning slightly negative.
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XM Research - 3 days agoNeutral

Technical Analysis – US 500 cash index on the brink of a bearish move

US 500 index is trading sideways amidst key market events It failed to record a new 2023 high, denting bullish sentiment Momentum indicators point to increasing bearish pressure The US 500 cash index is trying to record a green candle today as it trades in the busy 4,533-4,550 area. The aggressive move from the October 27 low appears to have run out of steam, especially after the US 500 index failed to record a new 2023 high, above the July 27, 2023 high of 4,607. The current bull
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XM Research - 3 days agoNeutral

Technical Analysis – EURGBP moves sideways after significant plunge

EURGBP fails to extend negative structure 20- and 200-SMAs post death cross EURGBP is stubbornly fighting the nearby 0.8555 support level for the fifth consecutive trading day, after the strong sell-off from the 0.8765 resistance. The pair is holding well below the penetrated uptrend line and the 20- and the 200-day simple moving averages (SMAs) are ready for a death cross.
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XM Research - 3 days agoNeutral

Technical Analysis – WTI oil futures: Is the sell-off overdone?

WTI oil futures test critical 2023 support zone Technical signals point to oversold levels Sellers await a weekly close below 70   WTI oil futures were sold dramatically on Wednesday, extending their weekly losses to a more than a four-month low of 69.10. The bears are leading for the seventh consecutive week, increasing speculation that a bullish correction could soon take place as the RSI and the stochastic oscillators are looking for an upside reversal near their oversold le
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XM Research - 3 days agoBullish

Technical Analysis – USDJPY’s 2023 performance is positive

USDJPY remains above uptrend line Bearish correction may be on the cards RSI and stochastic indicate negative move USDJPY has been in ascending movement since the beginning of 2023, but now is creating the fourth consecutive red week after the pullback off the 13-month high of 151.90. Technically, the bulls might still be in the town as the market is developing above the long-term uptrend line.
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XM Research - 4 days agoBullish

Technical Analysis – GBPUSD ends 2023 in bullish area

GBPUSD finds strong resistance near 200-week EMA Technical signals are negative Will 2024 be a negative year for the pair? With the year 2023 drawing to a close, GBPUSD could not carry the impressive rally of the last three weeks above the bullish crossover within the 50- and the 100-week simple moving averages (SMAs) and the 23.6% Fibonacci retracement level of the upward wave from 1.0325 to 1.3140 at 1.2480. Also, the pair found strong resistance near the 200-week exponenti
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XM Research - 4 days agoNeutral

Technical Analysis – USDCAD slows down before BoC rate decision

USDCAD halts near last week's limits Bias remains skewed to the downside BoC policy announcement awaited   USDCAD opened with mild losses on Wednesday after Tuesday’s remarkable rally stalled near last week’s resistance of 1.3593. Traders were also in a wait-and-see mode ahead of the Bank of Canada’s rate decision at 15:00 GMT.
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XM Research - 4 days agoNeutral

Technical Analysis – Can NZDUSD bulls keep the rally alive?

NZDUSD in the green today but sentiment mixed Key market events increase possibility of stronger moves Momentum indicators on the brink of giving bearish signals NZDUSD is edging higher today, reacting to the previous two sizeable red candles. It has been an aggressive rally from the November 1 low of 0.5788 as NZDUSD bulls took advantage of the widespread USD weakness and the relative hawkishness of the RBNZ to record a 3-month high of 0.6222. In the meantime, the convergence of t
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XM Research - 4 days agoBearish

Gold recoups some losses of the preceding days Very short-term bias skewed to the upside, but caution needed Gold prices are recovering somewhat after the aggressive selling interest that was posted in the preceding two days. The yellow metal skyrocketed to a fresh record high of 2,145 on Monday but it failed to continue the upside rally and fell back near the 2,000 round number.
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XM Research - 5 days agoBearish

Nvidia in a steady decline since its record high In November But the 50-day SMA curbs the retreat for now Momentum indicators are turning negative Nvidia has been the best performing stock of the S&P 500 in 2023, storming to a fresh record peak of 505.00 on November 20. Although the price has been experiencing a downside correction since then, the 50-day simple moving average (SMA) seems to be acting as a strong floor in the near term.
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XM Research - 5 days agoBearish

Technical Analysis – Palladium futures return to multi-year lows

Palladium futures at risk of broad bearish trend resumption Oversold signals detected, eyes on the 945 floor   Palladium futures (March delivery) confirmed a bearish double top pattern near the 200-period simple moving average (SMA) in the four-hour chart after the slump below the 1,045 neckline last week. The price slid as low as 961 on Monday, bringing November’s five-year low of 945 on the radar again.
XM Research - 5 days agoBullish

Technical Analysis – ETHUSD posts a fresh 18-month high

Ethereum jumps to its highest since May 2022 Advance eases as oscillators point at overbought conditions ETHUSD (Ethereum) has experienced a strong rally since late October, which propelled the price to a fresh 18-month peak of 2,274 on Monday. However, the uptrend seems to be losing some steam, with both the RSI and stochastics touching their overbought territories.
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XM Research - 5 days ago

Technical Analysis – AUDUSD plummets below uptrend line

AUDUSD posts several red candles Holds below the SMAs Technical oscillators hold in negative areas AUDUSD has been in a bearish corrective mode during the week, penetrating the short-term uptrend line to the downside with strong momentum. Entering the 0.6570 area has been a struggle over the past three days, and there might be another tough obstacle within the 38.2% Fibonacci retracement level of the up leg from 0.6338 to 0.6690 at 0.6555, but the bears may not give the battle ye
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XM Research - 5 days agoNeutral

Technical Analysis – GBPUSD bulls hit a wall; support nearby

GBPUSD reaches overbought area near key resistance Sellers could take control of the market below 1.2588   GBPUSD flatlined around the familiar 1.2720 resistance region, which was last tested at the end of August, after three constructive bullish weeks. The area also overlaps with the 61.8% Fibonacci retracement of the July-October downleg.
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XM Research - 5 days agoNeutral

US 30 index in the red after recording a new 22-month high Aggressive move higher from the October lows Some early signs of rally exhaustion from the momentum indicators The US 30 cash index is trying to record its second consecutive red candle after registering a new 22-month high, 12% higher from the late October lows. It is currently battling with the October 13, 2022 upward sloping trendline with the bulls possibly taking a breather and preparing for the next eventful trading p
XM Research - 5 days agoNeutral

Technical Analysis – EURUSD fails to surprise during 2023

EURUSD holds in trading range in weekly chart 50-week SMA acts as strong support RSI and stochastic suggest more losses As the year is coming to an end, EURUSD’s market price is holding slightly higher than at the beginning of 2023. The pair is consolidating within a consolidation area with upper boundary the 200-week simple moving average (SMA) around 1.1150, despite the move above it in July, and lower boundary the ten-month low of 1.0450. Currently, the price is testing the 5
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