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Latest Analysis

XM Research - 15 hours agoNeutral

Technical Analysis – US 500 index halts decline, but will it pivot?

US 500 stock index pauses decline near 100-SMA, but negative risks remain Breaking above 5,600 could positively impact buying sentiment   The US 500 stock index maintained support close to its 100-day simple moving average (SMA) for a second consecutive day, raising hopes that the current bearish phase may soon diminish. From a technical perspective, there are still some negative developments that should be considered.
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XM Research - 15 hours agoNeutral

EURJPY is hovering around the 157.99 level EURJPY bears quickly erased the mid-August recovery attempt Momentum indicators confirm the ongoing bearish pressure EURJPY is trading lower today, hovering around the 157.99 level, and staying relatively close to the August 5 low of 154.38. Expectations for another ECB rate cut this week, the negative newsflow regarding the German economy, and the possibility of another BoJ rate hike have allowed JPY bulls to regain market control and era
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XM Research - 19 hours agoNeutral

Technical Analysis – USDJPY lacks direction, looks to US CPI

USDJPY hovers around 20-period moving average (SMA) Some upside momentum still present Next move will likely depend on US CPI report USDJPY is consolidating around its 20-period SMA after the rebound from the one-month low of 141.76 quickly ran out of steam. The RSI is fluctuating right beneath the 50-neutral mark, but the MACD continues to rise above its red signal line in the negative territory.
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XM Research - 21 hours agoBullish

Technical Analysis – Apple stock holds a bullish bias

Apple capped by 20- and 50-day SMAs Prices stand above uptrend line Momentum oscillators show neutral-to-bullish mode Apple introduced a range of new technologies, including the iPhone 16, on Monday. This device incorporates significant enhancements that the company intends to showcase to users. Currently, the market is trading above the 220 level, failing to drop beneath the 23.6% Fibonacci retracement level of the up leg from 164 to 236.55 at 219. Immediate resistance is com
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XM Research - 23 hours agoBearish

Technical Analysis – GBPUSD on a slippery slope

 GBPUSD hovers within critical zone Stochastics and RSI lose momentum GBPUSD has lost its positive momentum after the pullback on the almost two-and-a-half-year high of 1.3265, trading within the restrictive support area of 1.3045-1.3085, which encapsulates the 23.6% Fibonacci retracement level of the upward wave from 1.2300 to 1.3265. In the short term, the market could maintain downside risks if the RSI keeps moving around the neutral threshold of 50 and the stochastic continues
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XM Research - 2 days agoBearish

EURCHF flirts with 0.9350 support Stochastics and RSI suggest upside move EURCHF has lost around 2.6% following the pullback from the 0.9580 resistance level, holding well below the descending trend line. The 0.9350 level looks to be a tough obstacle for traders, with the technical oscillators indicating a potential upside recovery. The stochastic is turning higher from the oversold area, while the RSI is ticking higher beneath the neutral threshold of 50. If the price rises further
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XM Research - 2 days ago

Weekly Technical Outlook – EURUSD, USDJPY, GBPUSD

ECB’s rate cut is expected with EURUSD staying below 1.1200 US CPI data may be another sign before Fed’s decision GBPUSD may plunge further if UK employment data disappoint ECB interest rate decision --> EURUSD Several important economic data releases and events may affect market sentiment in the next few days, following a gloomy week.
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XM Research - 2 days agoNeutral

Technical Analysis – Gold weakness might have legs

Gold is trading lower today, but close to recent highs It failed to benefit from Friday’s negative stock market reaction Momentum indicators remain mixed Gold is trading lower again today, recording its second consecutive red candle, but remaining a tad below its recent all-time high of $2,532. Last Friday’s non-farm payrolls figure resulted in an acute market reaction with the S&P 500 index recording its worst weekly performance since 2023, but gold failed to benefit.
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XM Research - 5 days agoNeutral

EURAUD trades higher, partly reversing August’s correction It is has climbed above a key support level in an aggressive fashion Momentum indicators are turning mostly bullish EURAUD is trading higher today, experiencing its fourth consecutive green candle, after testing the 1.6250 level in late August. Peripheral currencies have been under pressure this week as the market is preparing for the next big events, starting with the non-farm payrolls figure later today.
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XM Research - 5 days agoBearish

Technical Analysis – US 500 index could see further weakness

US 500 index posts negative days lately Next support at long-term rising trend line Momentum oscillators confirm bearish correction The US 500 cash index is recording the fourth straight negative session, losing more than 3%. The price is currently retreating beneath the 5,565 strong resistance level as well as below the 20- and the 50-day simple moving averages (SMAs).
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XM Research - 5 days agoNeutral

Technical Analysis – USDCAD doubts September’s upturn

USDCAD trims September’s uptick to trade near key trendline Technical signals are mixed; a break below 1.3480 could shift the bias to the downside US & Canadian employment figures due at 12:30 GMT   USDCAD started Friday’s NFP session with soft negative momentum after a stagnant day, which prevented the pair from examining its weekly high of 1.3564. While the technical indicators have barely shown any improvement, there is still a chance for a positive turnaround as long
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XM Research - 5 days agoNeutral

Technical Analysis – AUDUSD bounces off 0.6700 but looks weak

AUDUSD flirts with weekly downtrend line Stochastics create bullish cross But RSI holds near neutral level AUDUSD has reversed to the upside after the rebound off the 0.6700 round number with strong barrier coming from the weekly descending trend line around 0.6750. Over the last couple of weeks, the market has been developing back and forth of the aforementioned diagonal line, looking weak to change the outlook to a more positive one.
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XM Research - 6 days agoBearish

Nvidia loses August’s wins as recession risks resurface Short-term bias skewed to the downside; more sellers wait below 100.45   Nvidia’s stock has been suffering along with other key tech stocks in the face of renewed recession fears, which could harm AI growth perspectives, losing more than 10% during the previous days. According to pre-market trading, today’s session might be another struggle after the wide miss in the ADP employment data.
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XM Research - 6 days ago

Midweek Technical Look - EURUSD, US 500, oil

EURUSD rebounded off 1.1030 ahead of NFP data US 500 looks flat after aggressive losses WTI crude oil heads slightly up from 8-month low
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XM Research - 6 days agoBearish

Technical Analysis – USDCHF eyes August’s low as bears stay in charge

USDCHF trims latest rebound, holds bearish trend ahead of US data Short-term bias skewed to the downside; bears wait for a move below 0.8435   USDCHF has been stuck in a downward trend since April’s peak of 0.9223, unable to sustain any bullish corrections. More recently, following its bounce from an eight-month low of 0.8398, the price is once again subject to downward pressure.
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XM Research - 6 days agoNeutral

Technical Analysis – Bitcoin slides and hits the 56,200 support

Bitcoin has been declining since August 26 The bigger picture points to a broadening formation Oscillators imply further declines within the pattern BTCUSD has been sliding lately, after hitting resistance near the 64,700 zone on August 24 and 26. The crypto king dropped below the key support (now turned into resistance) zone of 61,600 and found support slightly below 56,200 yesterday.
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XM Research - 6 days agoBearish

Technical Analysis – GBPJPY continues selling interest below 190.00

GBPJPY stands beneath 200-day SMA Momentum oscillators look neutral-to-bearish GBPJPY has been in a considerably descending movement, losing around 3% after it topped at 193.50. The market is currently testing the 188.00 round number with the technical oscillator confirming strong bearish tendency in the short-to-medium-term view. The stochastic plunged into the oversold territory with strong momentum, while the RSI is sloping down below the neutral threshold of 50. Steeper declines c
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XM Research - 1 week agoBearish

Technical Analysis – WTI oil futures test critical support

WTI oil futures seek buyers around strong support trendline near 69.00 Short-term bias remains bearish; a bounce above 74.00 is needed     WTI oil futures edged up to 71.44 on news that OPEC members are discussing a potential delay in a planned output hike in October. Technically, the price rotated higher after marking a nine-month low of 69.17, near the important support trendline, which joins the lows from the end of May 2023. Recall that oil set a strong footing near that line
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XM Research - 1 week agoBearish

EURGBP rebounds off 0.8400 Price remains beneath SMAs RSI and MACD point up EURGBP is recovering somewhat after the plunge from the 200-day simple moving average (SMA) at 0.8545, losing 1.7%. The RSI is also trying to gain some ground beneath the 50 level, while the MACD oscillator's negative momentum is weakening beneath its trigger and zero lines.
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XM Research - 1 week agoNeutral

Technical Analysis – US 100 index under pressure

US 100 index drops, reversing the August rally Nvidia woes keep sentiment negative Momentum indicators are turning bearish The US 100 cash index is in the red again today, trading back below the 100-day simple moving average (SMA) and having surrendered half of its August gains. Nvidia’s underperformance is keeping the index under pressure with the market preparing for this week's key US labour market data releases and counting down to the September 18 Fed meeting.
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