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Latest Analysis

XM Research - 9 hours agoBullish

Technical Analysis – US 100 index hovers above cloud as rebound loses steam

US 100 stock index eyes March all-time high But latest upleg may have run its course Is a correction on the way or is a record peak in sight?   The US 100 stock index (cash) has recovered by more than 7% from the April dip when it hit a three-month low of 16,970.00. But despite climbing on top of the Ichimoku cloud and surpassing the 18,000.00 level, the bullish prospects for the near term have started to fade.
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XM Research - 10 hours ago

Weekly Technical Outlook – EURUSD, GBPUSD, AUDUSD

US CPI report may show the next direction of EURUSD UK employment data may take GBPUSD down Is Australia labour report strong enough to take AUDUSD out of trading range? US CPI data --> EURUSD During the previous week's meeting, the Federal Reserve displayed a less aggressive stance than anticipated, as Chair Powell explicitly stated that there would be no increases in interest rates and suggested that they are still inclined towards reducing rates.
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XM Research - 11 hours agoBullish

Technical Analysis – Gold loses some ground but still bullish

Gold loses momentum after reaching a two-week high Short-term risk remains skewed to the upside above 2,325   The week began with gold losing ground and giving up the gains it made on Friday when it reached a two-week high of 2,378. Technically, the bounce back above the resistance line from March and the 20-day simple moving average (EMA) feeds optimism that the latest upturn could resume as the RSI keeps fluctuating clearly above its 50 neutral mark and the price has yet to reach th
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XM Research - 3 days agoNeutral

GBPJPY keeps climbing higher, above the recent rectangle pattern GBPJPY bulls survived last week’s interventions by the BoJ Momentum indicators have turned bullish GBPJPY is recording its fifth consecutive green candle, most likely closing the week around 2% up from last Friday’s close. Despite the recent weak US labour market report, the yen has failed to maintain any momentum from last week’s double intervention by the BoJ, surrendering most of its gains.
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XM Research - 3 days agoBullish

Technical Analysis – AUDUSD remains undecided near crucial technical region

AUDUSD repeatedly fails to conquer the 0.6643-0.6666 range But outlook is positive as price holds above 50 and 200-day SMAs Momentum indicators deteriorate but remain in positive zones AUDUSD has been in a steady advance since its bounce off the five-month low of 0.6363 in mid-April. Although the pair has been rejected at the 0.6643-0.6666 range three times so far in 2024, the bulls do not seem ready to give up.
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XM Research - 4 days agoBullish

Technical Analysis – USDCAD slips beneath 20-day SMA

USDCAD may retest the uptrend line MACD and RSI lose steam USDCAD is sliding beneath the 20-day simple moving average (SMA) and is approaching the medium-term ascending trend line around the 1.3630-1.3610 support region. Technically, the MACD oscillator is holding beneath its trigger line in the positive area; however, the RSI is weakening and is moving horizontally near the neutral threshold of 50. In case of steeper decreases the market may rest near the 50-day SMA at 1.3618 and a
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XM Research - 4 days agoBullish

Technical Analysis – UK 100 index swings to all-time high

UK 100 hits record high after the BoE rate decision; up 8% year-to-date Next target at 8,500, but fears of an overbought market might delay rally The UK 100 stock index (cash) has been performing incredibly well over the past four months, staging another exponential rally this week to unlock an all-time high of 8,393 on Thursday. The index has surpassed a couple of targets, including the 2023 top of 8,045 that temporarily ceased bullish actions on April 12. The spotlight is now on t
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XM Research - 4 days agoBearish

Technical Analysis – BTCUSD retreats after unsuccessful test of 50-SMA

BTCUSD drops after failing to claim 50-day SMA The price extends its series of lower highs and lows Momentum indicators are tilted to the downside BTCUSD (Bitcoin) had been in a slow but steady recovery since its bounce off the two-month bottom of 56,483. However, the rebound faltered and the price reversed back lower following its second unsuccessful attempt to conquer the 50-day simple moving average (SMA).
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XM Research - 4 days ago

Midweek Technical Look – EURUSD, Gold, US 500

EURUSD declines further after pullback off 200-day SMA Gold moves sideways within short-term SMAs; broader outlook is still bullish US 500 loses steam but successfully surpassed SMAs
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XM Research - 4 days agoNeutral

EURCHF remains in sideways channel in near term RSI and MACD lose steam Broader outlook is still positive EURCHF is testing the medium-term ascending trend line around the 0.9750 level and the 20-day simple moving average (SMA). However, in the short-term, the market has been developing within a sideways channel since March 20 with an upper boundary the 0.9847 resistance and the lower boundary the 0.9675 support.
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XM Research - 4 days agoBullish

Technical Analysis – EURGBP runs out of steam near 0.8600

EURGBP struggles to surpass 0.8600 and 200-day SMA Short-term bias is positive, but signs of oversold market exist Bank of England announces rate decision today at 11:00 GMT   EURGBP started May’s session on the right foot, swiftly reversing up after touching the support trendline taken from the March lows. On Wednesday, the pair reached a high of 0.8616, but it quickly lost most of its gains and closed below the 200-day SMA around 0.8600. The RSI indicates more bullish poten
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XM Research - 4 days agoBullish

Technical Analysis – USDJPY advances after bouncing off 50-day SMA

USDJPY in a recovery mode after pull back comes to a halt Momentum indicators suggest intensifying positive momentum USDJPY experienced a strong pullback from its 34-year high of 160.20 following the intervention by Japanese authorities a week ago. However, the pair managed to find its feet at the 50-day simple moving average (SMA) and recoup a significant part of its recent losses.
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XM Research - 5 days agoNeutral

Technical Analysis – NZDUSD bulls face strong resistance

NZDUSD is under pressure following a strong rally from the 2024 lows It has met strong resistance at both the 200-day SMA and a key trendline Momentum indicators are mixed; a bearish divergence is developing After testing the 2024 low at 0.5851 and recording a sizeable rally, NZDUSD is now hovering a tad below the 0.6009-0.6033 area.
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XM Research - 5 days agoBullish

US 500 cash index attempts to erase latest pullback Jumps above crucial 123.6% Fibo and eyes record peak       Oscillators recover drastically and approach overbought levels The US 500 stock index (cash) has been staging an impressive rally after bottoming out in October 2023, generating consecutive all-time highs. Despite experiencing a strong pullback from its record high of 5,281, the index quickly found its feet and rotated back higher.
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XM Research - 5 days agoBullish

Technical Analysis – EURJPY flirts with 167.00 again

EURJPY recoups previous losses Rebounds off ascending trend line Surpasses short-term SMAs Oscillators gain momentum EURJPY is flirting with the 167.00 round number after the bounce off the long-term rising trend line and the 164.00 handle. The pair has been developing within an upward tendency since the beginning of December with no violations of the uptrend line.
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XM Research - 5 days agoBearish

Technical Analysis – WTI oil futures restart downtrend

WTI oil futures fall to two-month low on rising US stockpiles Short-term risk bearish, but market could be oversold A clear close below 77.44 could activate fresh selling   WTI oil futures slid to a two-month low of 76.99 on Wednesday after their continuous attempts to climb above the 200-day exponential moving average (EMA) at 79.10 proved fruitless.
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XM Research - 5 days agoBearish

Technical Analysis – GBPUSD pulls back after testing 50-day SMA

GBPUSD reverses lower after 50-day SMA curbs advance Violates both the 200-day SMA and descending trendline Momentum indicators are neutral-to-negative GBPUSD had been in a recovery mode following its bounce off the five-month bottom of 1.2298, with the price temporarily violating the 200-day simple moving average (SMA). However, the pair retraced back below the downward sloping trendline, in place since March, after failing to conquer the 50-day SMA.
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XM Research - 6 days agoNeutral

Technical Analysis – Gold stands above 2,300

Gold retains sideways move in 4-hour chart MACD and RSI look weak Gold prices are holding near the 50-period simple moving average (SMA) and the mid-level of the Bollinger band, trading within a sideways channel of 2,277-2,332 in the 4-hour chart. According to technical oscillators, the MACD is losing momentum beneath its trigger line in the positive territory, while the RSI is ticking down, meeting the neutral threshold of 50. Both reflect the weakening momentum in the price.
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XM Research - 6 days ago

Weekly Technical Outlook – USDJPY, GBPUSD, USDCAD

Strengthening rate cut projections weigh on USDJPY; upward pattern intact above 151.90 GBPUSD faces rejection near familiar resistance of 1.2630 ahead of BoE policy announcement USDCAD trends within a short-term bearish channel; key support level at 1.3530   Intervention risks, Fed talk --> USDJPY The week ahead will be light in terms of US data releases, but a couple of Fed speakers will be on the wires to comment on monetary policy and perhaps fuel fresh volatility in the
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XM Research - 6 days agoNeutral

Technical Analysis – EURUSD returns within a sideways range

EURUSD returns within range between 1.0725 and 1.0930 MACD and RSI detect a lack of directional momentum For the bears to recharge, a break below 1.0725 may be needed The outlook may turn bullish if the price breaks above 1.0930 EURUSD has been in a recovery mode since April 16 when it hit support near the 1.0610 area. Since then, the pair has been respecting an upside support line, which let it on Friday back within the sideways range that has been containing most of the pric
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