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Latest Analysis

XM Research - 43 minutes agoBearish

Technical Analysis - USDCAD tumbles and hits support near 1.3425

USDCAD falls sharply, accelerating prevailing retreatBoth the RSI and the MACD detect bearish momentumA break below 1.3425 could extend the fall towards 1.3350For the outlook to brighten, a rebound above 1.3645 may be neededUSDCAD fell sharply on Tuesday, extending the retreat that started on Thursday after the pair hit resistance at 1.3645, slightly above the lower bound of the sideways range that contained most of the price action between April and August.Yesterday’s tumble was paused today
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XM Research - 2 hours agoNeutral

Technical Analysis – GBPAUD correction might have legs

GBPAUD in the red again todayBoth BoE and RBA have refrained from cutting ratesMomentum indicators are inconclusive at this stage GBPAUD is trading slightly lower today, within the busy 1.9440-1.9521 area, and close to the recent peak of 1.9699. GBPAUD has managed to break below both the July 10, 2024 trendline and the 50-day simple moving average (SMA), but a stronger correction is needed to validate this move.
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XM Research - 2 hours agoNeutral

Technical Analysis – Another record for the US 500 index

US 500 stock index hits another all-time highTechnical signals mixed; more buying awaited above 5,750 The US 500 stock index restarted its positive trend on Tuesday, inching up to a record high of 5,736 after keeping its foot on the rising almost one-year-old constraining line at 5,674.Mixed technical signals are observed, with the RSI slightly below its 70 overbought level and the stochastic oscillator returning to the overbought region with a positive slope, indicating the possibility of add
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XM Research - 4 hours agoBearish

Gold prices may post bearish correctionMomentum oscillators lose steamGold prices are losing their strong positive momentum after flying to the 2,670.50 record high in the preceding couple of sessions. Moreover, the technical oscillators look overstretched. The MACD is easing above its trigger and zero lines, while the RSI is pointing down from the 70 level.If the commodity ticks lower may move towards the 20-period simple moving average (SMA) at 2,630 ahead of the 2,622 support level.
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XM Research - 5 hours agoNeutral

Technical Analysis – NZDUSD puts life back to short-term uptrend

NZDUSD marks new higher high for 2024Positive momentum might soften; eyes on 0.6368NZDUSD stretched its exciting rally to a new nine-month high of 0.6354 on Wednesday before experiencing mild losses.The pair surpassed August’s bar with a bang, shifting the spotlight to the December 2023 peak of 0.6368. Given the strengthening overbought signals coming from the RSI and the stochastic oscillator, the rally could soon calm down.A decisive close above 0.6368 could stage a new bull wave towards th
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XM Research - 7 hours agoNeutral

Technical Analysis – EURUSD retests 1.1200 critical level

Will EURUSD break the double bottom to the upside?Strong support at 1.1100Stochastic and RSI look quite positiveEURUSD is continuing the upside rally near the 13-month high of 1.1200, remaining well above the 20-day simple moving average (SMA). A successful break to the upside of the double top pattern could confirm the upside tendency.Technically,
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XM Research - 1 day agoBullish

EURJPY trades within 159.30-161.20 range200-day SMA looks strong resistanceMACD and RSI point upEURJPY is hovering within the 23.6% Fibonacci retracement level of the down leg 175.37-145.40 and the 161.20 resistance over the last couple of days. Noteworthy that the market overcame the short-term descending trend line, adding some optimism of more bullish moves.According to momentum oscillators, the RSI is sloping marginally up near the neutral threshold of 50, while the MACD is extending its mov
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XM Research - 1 day agoNeutral

Technical Analysis – EURGBP sinks to the lowest since 2022

EURGBP resumes downtrend, falls rapidly to 2½-year low Oversold signals detected, price trades at the bottom of a channel   EURGBP plummeted to a 2½-year low of 0.8316 but held above the support line of the almost one-year-old bearish channel, fueling hopes that the bulls could still find a footing. It is important to exercise caution as the RSI and stochastic oscillator have not yet found a bottom in the oversold zone, suggesting that downside pressures could persist for a bit lo
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XM Research - 1 day agoBullish

Technical Analysis – GBPUSD unlocks another new 2½-year high

GBPUSD eases a bit after strong rally Technical oscillators move slightly down GBPUSD skyrocketed to a fresh two-and-a-half-year high of 1.3365 earlier today, adding almost 3% after the bounce off the 1.3000 round mark. The technical oscillators indicate an overstretched market. The stochastic is turning slightly lower in the overbought territory, while the RSI is pointing down following the pullback at the 70 level.
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XM Research - 2 days agoBullish

Technical Analysis – AUDJPY stalls near 50-SMA ahead of RBA rate decision

AUDJPY pauses recovery phase around 50-day SMA Risk skewed to the upside; major resistance near 100 RBA policy announcement due on Tuesday at 04:30 GMT   AUDJPY has been pushing for a close above its 50-day simple moving average (SMA) at 98.25 since Friday. The pair is encountering a sense of déjà vu from July when the same line led to a bearish continuation, but this time the bulls may have luck on their side.
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XM Research - 2 days agoNeutral

EURCHF edges lower after weak euro area PMI surveys The prevailing downward trend is still firmly in place Momentum indicators tentatively acknowledge the recent rally EURCHF is trading lower today after failing to overcome the resistance set by the 50-day simple moving average (SMA), and it is now threatening the recent rally. This bullish move that started the day before the recent ECB meeting might still have legs, and it could receive a significant boost by another SNB rate cu
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XM Research - 2 days ago

Weekly Technical Outlook - USDCHF, AUDUSD, EURUSD

SNB to cut rates as USDCHF holds within range RBA to hold steady with AUDUSD standing near 9-month high US core PCE index in the spotlight after Fed decision; EURUSD retreats to 1.1100 SNB interest rate decision --> USDCHF The Swiss National Bank (SNB) will announce its policy decision on Thursday, following the announcements made by major central banks last week.
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XM Research - 2 days agoNeutral

Technical Analysis – Gold near a peak, but uptrend might stay solid

Gold charts a new record high after two-week rally Technical picture signals a temporary slowdown   Gold hit a new milestone early on Monday, unlocking a fresh record high of 2,631 following two consecutive impressive weeks in uncharted territory, which boosted the price by 5%. The precious metal is sailing in overbought waters according to the RSI and the stochastic oscillator, and with the price hanging around the upper Bollinger band and the upper band of an upward-sloping chan
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XM Research - 5 days agoNeutral

USDCAD is in green today after a strongly negative session on Thursday The 200-day SMA continues to act as strong resistance Momentum indicators question the recent bullish trend  USDCAD is in the green today as dollar bulls are trying to react to yesterday’s weak performance from the greenback. USDCAD is hovering a tad below the 1.3590-1.3605 area and the lower boundary of the recent rectangle, as the 200-day simple moving average (SMA) is proving a rather strong resistance fa
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XM Research - 5 days agoBearish

Technical Analysis – WTI crude oil tries to extend its bullish correction

WTI crude oil rebounds off 17-month low Technical oscillators are mixed WTI crude oil prices have been creating a notable bullish correction after the significant bounce off the 17-month low of 65.70. Technically, the MACD oscillator is gaining some ground above its trigger line; however, the stochastic posted a bearish crossover within its %K and %D lines in the overbought region.
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XM Research - 5 days agoNeutral

Technical Analysis – USDCHF stable at the bottom of a downtrend

USDCHF trades sideways near 8-month low, below 20-SMA Short-term outlook is hazy, but optimism is still there Key resistance at 0.8522; support at 0.8330   USDCHF has been in a tight range within the 0.8400 region so far this week, remaining trapped below its 20-day simple moving average (SMA) and the resistance trendline from July near 0.8470. Despite the absence of strong bullish signals, the bullish divergence in the RSI and MACD remains a source of optimism for a positive
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XM Research - 6 days agoNeutral

Technical Analysis – GBPJPY surges above 188.00 key barrier

GBPJPY jumps above 188.00, confirming a higher low A break above 193.50 could brighten the picture A move below 183.70 may turn the outlook back to bearish GBPJPY traded higher on Thursday, clearing the key resistance (now turned into support) barrier of 188.00. The move confirmed the higher high at 183.70, which cancels the bearish picture.
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XM Research - 6 days ago

Technical Analysis – AUDUSD posts new 9-month high

AUDUSD rally continues after bounce off 200-day SMA Technical oscillators are mixed AUDUSD has printed a fresh nine-month high of 0.6838 earlier today, creating the fourth consecutive green candle. The pair found significant support at the 200-day simple moving average (SMA) at 0.6620, continuing the medium-term bullish structure. The technical oscillators are showing some contradicting sings in the daily chart.
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XM Research - 6 days ago

Midweek Technical Look - Gold, US 500, GBPJPY

Gold touches 2,600 after Fed decision US 500 records another all-time high; strong bullish bias today GBPJPY posts several days of gains; bearish cross within SMAs
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XM Research - 6 days agoNeutral

Technical Analysis – Ethereum benefits from Fed decision

The crypto market has responded favorably to the Fed rate cut Ethereum is in the green but a bearish trend is still in place Momentum indicators are turning bullish Ethereum is experiencing a green session today, recovering from Monday’s correction and preparing to test the recent $2,464 high. The crypto world appears to be benefiting from Wednesday’s aggressive Fed rate cut, contrary to the US stock indices being under pressure.
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