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Latest Analysis

XM Research - 4 hours agoBullish

Technical Analysis – ETHUSD heads towards 2024 highs on ETF approval hopes

ETHUSD set to notch up a second straight day of sharp gains Hopes of spot ether ETF trigger broad-based crypto rally But danger that upswing is becoming overstretched   ETHUSD (ether) has charged through its 50-day simple average (SMA) to make a fresh bid for the March peak of 4,093.70, which was a more than two-year high. The surge comes on renewed speculation that an approval by the US Securities and Exchange Commission for a spot ether ETF is imminent.
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XM Research - 6 hours agoBullish

 US 100 index holds above uptrend line and SMAs MACD and RSI move within positive areas Next obstacle at 261.8% Fibo extension The US 100 cash index reached another all-time high of 18,704.55 yesterday as the index extended its move after the rebound off the 16,980 support level. The price broke above the 18,470 level for the first time on May 15 and is trading above its moving averages.
XM Research - 7 hours agoNeutral

Technical Analysis – Is the time for WTI crude oil to create bearish correction?

Fed’s cautious stance drives WTI crude oil lower Commodity capped by bearish cross and 80.00 level in daily chart Prices consolidate in 4-hour timeframe Oil prices continued to decrease on Tuesday due to the cautious stance of Fed officials despite the recent softening of inflation. This has raised concerns that US interest rates may remain elevated for an extended period.
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XM Research - 10 hours agoNeutral

Technical Analysis – USDCAD's upturn is still lackluster

USDCAD pivots gently higher but still constrained between trendlines A decisive bounce above 1.3745 needed for fresh buying Canadian CPI scheduled for release at 12:30 GMT; Fed speakers on the agenda too   USDCAD has been tip-toeing higher since its downward pattern that started after April’s peak stalled near the 1.3588 level last week.
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XM Research - 10 hours agoBullish

Technical Analysis – EURJPY shows appetite for retesting 40-year high

EURJPY holds well above uptrend line RSI stands near 70 level Next target at multi-year peak EURJPY is rallying sharply higher after the strong bounce off the 164.00 support level and the medium-term ascending trend line. The pair is heading towards the previous 40-year high of 171.56 with the technical oscillators confirming the buying interest.
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XM Research - 1 day ago

Weekly Technical Outlook – USDJPY, NZDUSD, GBPUSD

USDJPY’s recent bullish turn looks promising ahead of FOMC minutes NZDUSD takes a breather after meaningful weekly gain; RBNZ decision looms GBPUSD examines critical resistance zone amid busy data week FOMC meeting minutes, S&P Global PMIs --> USDJPY Despite surprising stagnation in April’s retail sales data and a slight easing of CPI inflation last week, the Fed is unlikely to reduce interest rates before September.
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XM Research - 1 day agoBullish

Technical Analysis – AUDCAD rises to new 14-month high

AUDCAD is higher again today above 0.9100 RSI and MACD are holding in their positive regions AUDCAD has been in an upward movement since February 8, posting a 14-month high of 0.9125 earlier in the day. Entering the 0.9100 area has been a struggle over the past two days, and there might be another tough obstacle around the multi-month high, but the bulls may not give up on the battle yet according to the technical indicators.
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XM Research - 1 day agoBullish

Technical Analysis – Gold unlocks another record high

Gold advances above sideways channel 20- and 50-day SMAs tick up MACD and RSI suggest more upside pressure Next target at 261.8% Fibo extension of 2,515 Gold prices skyrocketed to another fresh high of 2,450 earlier in the day, currently holding above the previous peak of 2,431.48. This movement may be a sign of further increases during the next couple of days, with the technical oscillators suggesting more gains in the market.
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XM Research - 1 day agoBullish

Technical Analysis – EURUSD fails to surpass 1.0900

EURUSD holds above medium-term downtrend line Oscillators indicate bearish structure EURUSD appears to be maintaining a horizontal trajectory in the very short-term, trapped between the 1.0895 resistance level and the 1.0814 support. A paused state of directional momentum is reflected in the technical oscillators. The stochastic posted a bearish crossover within its %K and %D lines in the overbought territory, while the RSI is failing to jump above the 70 level.
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XM Research - 4 days agoNeutral

Technical Analysis – Is it the calm before the storm for WTI oil futures?

WTI oil futures hold near recent lows; develop within narrow neutral structure Technical signals indicate improving sentiment, but downside risks could emerge near 80.80 Despite occasional drops, WTI oil futures remained squeezed within the 78.00-80.00 area and between two ascending lines for the second consecutive week. The bulls have been held back around 79.68 by the 38.2% Fibonacci retracement of the December-April uptrend, while the 200-day exponential moving average (EMA) has be
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XM Research - 4 days agoNeutral

Technical Analysis – GBPJPY ascends as BoJ is on the lookout

GBPJPY in the green again, returns to pre-intervention levels Increasing possibility of another BoJ intervention Momentum indicators remain mostly bullish GBPJPY is edging higher again today, recording its ninth green candle in the last 10 sessions. The bearish momentum after the recent BoJ interventions has faded with the pair quickly returning to pre-intervention levels.
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XM Research - 4 days agoBullish

Technical Analysis – USDCAD bounces off medium-term uptrend line

USDCAD recovers some ground above 1.3600 Oscillators suggest upside correction in short-term USDCAD has gained little over the last couple of sessions, and it managed to hold above the medium-term ascending trend line and re-enter the 1.3600 area, with the technical oscillators feeding prospects for possible positive short-term trading; the RSI is moving sideways slightly beneath its trigger line, while the stochastic posted a bullish crossover within its %K and %D lines in the overs
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XM Research - 5 days ago

Midweek Technical Look – USDJPY, Gold, US 500

USDJPY gets hammered after monthly US data miss forecasts; support could develop near 153.35 Gold strengthens short-term upleg; eyes turn to the 2,400 area as bias remains positive  US 500 stock index hits all-time high; looks bullish, but room for improvement could be limited
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XM Research - 5 days agoBullish

Technical Analysis – Gold retreats after hitting upper Bollinger band

Gold remains bullish in near term RSI moves horizontally below 70 level Gold prices recorded their second session of losses in the 4-hour chart after a failed attempt to break significantly above the 2,400 round level. Chances for a reversal are increasing as the RSI is pointing south after the climb in the overbought region, while the MACD is weakening its momentum above its trigger and zero lines.
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XM Research - 5 days agoBullish

Technical Analysis – AUDUSD eases after bullish spike to 4-month high

AUDUSD jumps above trading range MACD indicates more gains; but RSI heads south 20- and 50-day SMAs post bullish cross AUDUSD posted a strong bullish day on Wednesday, showing some more upside pressure today, towards a fresh four-month high, exiting from the consolidation area of 0.6390-0.6635. A rally higher until the next resistance level of 0.6730 could endorse a bullish retracement in the market.
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XM Research - 6 days ago

Technical Analysis – Tesla stock struggles to take off after rebound falters

Tesla reverses higher before coming under pressure again Key hurdles on the upside yet to be cleared Tesla stock rebounded off the 20-day simple moving average (SMA) following the retreat from the two-month high of 198.62. But further gains are in doubt as the price is heading lower today. The short-term picture is mixed according to the momentum indicators.
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XM Research - 6 days agoNeutral

Technical Analysis – EURUSD returns post-CPI gains as bears show up

EURUSD powers up after US CPI & retail sales data favor rate cuts But gains almost evaporate as overbought conditions emerge Buyers need a close above 1.0880  EURUSD sped up to a fresh one-month high of 1.0868 as a slightly softer-than-expected monthly CPI data and stagnant retail sales weighed on the US dollar. The spike in the price, however, proved short-lived, with the pair returning to its pre-CPI level near 1.0830 in the next hours.
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XM Research - 6 days agoBullish

Technical Analysis – NZDUSD rallies beyond downtrend line

NZDUSD rises above 200-day SMA too RSI and stochastics suggest more bullish moves NZDUSD is flying above the medium-term ascending trend line and the 200-day simple moving average (SMA), indicating a potential upside recovery. According to the technical oscillators, the RSI is heading north and is approaching the 70 level with strong momentum, while the stochastic is entering the overbought territory after the bullish crossover within its %K and %D lines.
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XM Research - 6 days agoBullish

Technical Analysis – USDJPY waits for its next tailwind near key barrier

USDJPY bulls face limitations ahead of the US CPI inflation figures Short-term risk tilted to the upside, but confirmation required above 156.60     USDJPY recouped more than half of its sharp losses that occurred at the start of the month thanks to the bounce off the 50-day simple moving average (SMA) near 151.84. But the bulls seem to be struggling to jump back into the broken bullish channel, which is currently capping upside movements near 156.60. Given the pair’s rise abov
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XM Research - 1 week agoBullish

US 500 remains positive but looks overstretched Stochastics suggest negative retracement The US 500 cash index is moving with weak momentum around the 5,240 resistance level, failing to extend the rebound off the uptrend line that started back on May 1. The technical oscillators are indicating a negative correction, as the RSI is flattening above the 50 territory, while the stochastic posted a bearish crossover in the overbought region.
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