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XM Research - 45 minutes agoNeutral

GBPAUD edges lower as the UK general election is underway Downward trend from the March 5 high remains intact Stochastics close to sending a bullish signal GBPAUD is edging lower as the market is closely following the UK general election held today. Some GBP weakness is sensible considering the importance of today's risk event, but market participants could also be reconsidering the possibility of a rate hike by the RBA following the June meeting minutes and a plethora of posit
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XM Research - 53 minutes agoBullish

Technical Analysis – AUDUSD challenges upper limit of its range

AUDUSD attempts to break above sideways structure Oscillators are heavily tilted to the bullish side AUDUSD has been trading sideways for more than a month now, unable to adopt a clear directional impetus. However, in the last two sessions, the bulls have been testing the upper end of the neutral pattern, where a decisive break could trigger a sharp move to the upside.
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XM Research - 20 hours ago

Q2 Earnings season: A strong test for stretched valuations – Stock News

Earnings parade unofficially starts on July 12 with major US banks S&P 500 profit growth forecast at 10.6% y/y, all eyes on tech results Asymmetric risks due to rosy valuations and optimistic earnings projections Stellar first half Undoubtedly, the US stock markets had another astonishing quarter and a roaring first half of the year as the US economy seems to be headed for a soft landing. It has been more than 21 months now since the stock market experienced a sizable correcti
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XM Research - 20 hours ago

Technical Analysis – USDCHF flirts with falling trend line

USDCHF surpasses 0.9000 but finds strong obstacles MACD and RSI indicate bearish retracement USDCHF is testing the short-term descending trend line around the 0.9030 level, after climbing above the 50-day simple moving average (SMA). This level is looking hard to surpass as the price is currently losing some momentum, which is also reflected in the technical oscillators.
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XM Research - 23 hours agoBullish

Technical Analysis – Gold retains positive attitude

Gold picks up steam towards a key resistance region ahead of US Independence day Short-term bias is positive, but an extension above 2,352 is necessary ISM services PMI, ADP employment, FOMC meeting minutes on the agenda     Gold bulls returned with stronger positive momentum on Wednesday and hit an almost two-week high of 2,287. This came after Fed chairman Powell acknowledged progress on inflation and as investors awaited a slew of US data before the 4th of July holiday break.
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XM Research - 23 hours agoBullish

AUDUSD develops in an upward sloping channel RSI and MACD continue the upside move AUDUSD is creating several green 4-hour sessions after the bounce off the 200-period simple moving average (SMA). The pair has been trading within an ascending channel since June 17, with immediate resistance at 0.6687 that failed a couple of times to break it.
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XM Research - 1 day ago

Could the post-UK elections market moves resemble 1997 and 2010?

Thursday's UK elections expected to bring political change Similar developments in both 1997 and 2010 weighed on the pound History points to a significant easing in pound volatility across the board Recent FTSE 100 performance matches the 2015 pre-election moves General election in sight The UK general election will be held this Thursday, July 4, the day that the US will be celebrating its 248th anniversary from the adoption of the Declaration of Independence.
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XM Research - 1 day ago

Market Comment – Market craves dovish Fedspeak as US stocks reach new highs

US stocks rally after Chairman Powell’s comments Focus on key US data today ahead of Thursday’s bank holiday Dovish ECB commentary to keep euro under pressure Dollar/yen rally continues US stocks rally after Powell’s comments The ECB-dominated forum held in Sintra, Portugal, managed to produce market-moving headlines for the Fed.
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XM Research - 1 day agoBearish

Technical Analysis – NZDUSD meets support at 38.2% Fibo

NZDUSD is in a steady decline since early June Completion of golden cross fails to trigger a recovery Oscillators are tilted to the bearish side NZDUSD had been in an aggressive uptrend following its 2024 bottom of 0.5851 in mid-April, surging to a six-month high of 0.6220 in June. However, the pair has come under severe selling pressure since then, with the 200-day simple moving average (SMA) preventing further declines for now.
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XM Research - 1 day ago

Investors await NFP to validate their Fed rate cut bets – Preview

Investors expect two rate cuts, even though Fed signals one Recent data corroborates investors’ take Nonfarm payrolls waited for more confirmation The report comes out on Friday, at 12:30 GMT   Fed appears hawkish, but data paint a different picture At its latest gathering, the FOMC appeared more hawkish than expected, revising its interest rate projections from three quarter-point reductions by the end of the year to just one.
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XM Research - 1 day agoBullish

Technical Analysis – USDJPY flies to another higher high at 161.92

USDJPY continues its ascending move Technical oscillators still ticking up USDJPY is creating higher highs, unlocking a fresh 38-year high of 161.92 earlier in the day. The rebound off 154.50 is still in progress, while the technical oscillators are still heading north. The RSI is developing above its uptrend line in the overbought territory, the MACD is rising above its trigger and zero lines, and the stochastic posted a bullish crossover within its %K and %D lines above the 80 lev
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XM Research - 2 days agoBullish

Tesla stock opens with a gap higher on Tuesday But RSI enters overbought territory Is the rally sustainable? Tesla stock powered ahead on Tuesday to a seven-month high, opening with a gap higher, after the company announced better-than-expected vehicle deliveries for Q2. The price has now recovered above the 50% Fibonacci retracement of the July 2023-April 2024 downtrend at 218.82. The momentum indicators suggest further gains are likely as both the RSI and stochastics are rising.
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XM Research - 2 days agoBullish

Technical Analysis – GBPCAD uptrend intact after latest correction

GBPCAD bounces off uptrend line But strength of rebound is in question 20-day SMA is nearest challenge for the bulls GBPCAD has rebounded back above the 50-day simple moving average (SMA) after a 2% correction in June took the price below it towards the upper ascending trendline that’s been in place since the autumn of 2023. The momentum indicators are positive again, but there are also signs that the upswing could already be faltering.
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XM Research - 2 days ago

Technical Analysis – USDJPY still flirts with 38-year high

USDJPY’s bounce off 154.50 still in place MACD and RSI head north But stochastics look overbought USDJPY is retesting the 38-year high of 161.73 earlier today, continuing the rebound off the long-term uptrend line at 154.50. The technical oscillators are standing in their overbought areas. The RSI is still holding above the uptrend line and the MACD is strengthening its positive momentum above its trigger and zero lines.
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XM Research - 2 days agoBullish

JP 225 index has been steadily rising in the short term On Tuesday,the price jumped to its highest since April 4 Momentum indicators are heavily skewed to the upside The JP 225 index (cash) had been trading without a clear direction in May and early June, fluctuating around its 50-day simple moving average (SMA). More recently, the price broke above that crucial barrier and edged higher to a fresh three-month high this week.
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XM Research - 2 days agoBearish

Technical Analysis – UK 100 index experiences pre-election decline

UK 100 index erases June’s recovery attempt as the UK election looms A break below 8,055 could worsen short-term outlook   The UK 100 stock index (cash) continues to suffer for the sixth consecutive trading day, extending its downleg aggressively to the critical support zone of 8,110 on Tuesday ahead of the election day on July 4. The index could not mark a new higher high above the key resistance area of 8,300 and the important resistance line from February 2022, increasing fears
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XM Research - 2 days ago

Canada’s unemployment rate likely to rise to more than 2-year high Loonie gains some territory in the beginning of the week Employment report due on Friday at 12:30 GMT Canada employment report may guide the BoC's next policy decision Friday is the day that Canada will release employment figures, which may prove to be very important for the policy decision that the Bank of Canada will take in July.
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XM Research - 2 days ago

Market Comment – Yen’s misery worsens, euro lower after CPI dip, dollar awaits Powell

Yen sinks to fresh 38-year low as officials refrain from verbal intervention Euro pares gains after CPI dip and French election uncertainty Dollar edges up on higher yields, but caution ahead of Powell comments Yen languishes at 38-year low    The Japanese yen ploughed a fresh 38-year low against its US counterpart on Tuesday, hitting 161.75 per dollar, amid ongoing doubts about the Bank of Japan’s ambition to normalize monetary policy and an unexpected pickup in US yields.
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XM Research - 2 days agoBullish

Technical Analysis – EURJPY sails in uncharted waters

EURJPY advances above 32-year high Fears of a Japanese intervention increase Oscillators point to overbought conditions EURJPY has been in an uptrend since the beginning of the year, storming to consecutive multi-year highs. Despite a strong pullback following a currency intervention from Japan in late April, the market has been steadily moving higher above levels that the Japanese authorities were willing to protect.
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XM Research - 2 days ago

Yen volatility remains high as equities appear calmer – Volatility Watch

Euro/dollar volatility jumps after French elections Volatility in commodities eases, apart from oil Stock indices’ volatility falls ahead of key data releases Euro/dollar volatility has eased over the past week as the market is breathing slightly easier following Sunday’s French elections result. On the flip side, volatility in yen crosses remains extremely high as market participants continue to provoke the BoJ by pushing dollar/yen above the level that led to the end-April
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