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Latest Analysis

XM Research - 7 hours agoBullish

Gold surpasses previous top of 2,673MACD and RSI extend bullish structureGold prices are moving higher again today after bouncing off the 2,600 round number with the potential to hit the all-time high of 2,685.51. In the meantime, the momentum indicators are supportive of this upleg. The RSI is moving higher, a tad below the 70 level. More importantly, the MACD oscillator has managed to edge above its trigger line while holding above the zero level.Should the bulls still feel thirsty, they woul
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XM Research - 9 hours agoNeutral

Technical Analysis – USDJPY faces a pass or fail test

USDJPY extends consolidation around August’s barTechnical signals weaken, cannot warrant a bullish trend reversalUS retail sales, jobless claims due on Thursday at 12:30 GMTUSDJPY reached a two-month high of 149.96, but it couldn’t hold its strength above the 200-day exponential moving average (EMA) at 149.40 on Tuesday.Over the past few days, the pair has been struggling for a bullish breakout, leaving investors wondering whether it’s time for a negative pivot. The slowdown in the techni
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XM Research - 9 hours agoBearish

Technical Analysis – NZDUSD opens the way for more losses

NZDUSD hovers beneath 200-day SMAStochastic and RSI maintain downside momentumNZDUSD has found strong resistance near the 200-day simple moving average (SMA) at 0.6090, diving towards the previous bottom of 0.6050.According to technical oscillators, they both confirm the recent bearish structure. The stochastic is heading south, ready to post a bearish crossover within its %K and %D lines, while the RSI is pointing slightly down below the neutral threshold of 50.Diving further, the price could t
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XM Research - 1 day agoBullish

Technical Analysis – Netflix stock retreats somewhat ahead of earnings release

Netflix remains in a bullish mode in long-term viewMACD and RSI lose steamNetflix stock is set to release its earnings on October 17 while the price added more than 25% following the rebound from the 590 support level, taking the market towards a fresh high of 734. Currently, the price is retreating, meeting the 20-day simple moving average (SMA) at 710.From a technical perspective, the MACD oscillator is losing some momentum, dropping beneath its trigger line above the zero level.
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XM Research - 1 day agoBearish

Technical Analysis – GBPUSD holds near September’s support zone after mixed jobs data

GBPUSD stays directionless near September’s baseTechnical signals cannot warrant an upside reversalGBPUSD faced mild selling pressure but held its footing above September’s floor of 1.3000-1.3040 after the UK employment survey showed better-than-expected jobs data in August and an increase in the number of unemployed people in September.The bears may have luck on their side as the technical indicators are not confirming oversold conditions yet.
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XM Research - 1 day agoNeutral

Technical Analysis – EURJPY posts strong fight with 163.45-164.00 barrier

EURJPY looks neutral in short-term view200-day SMA seems to be another real struggle for bullsMACD and stochastics weaken their momentumEURJPPY has been stuck within a tight range of 162.30 and 163.45, remaining in a broader sideways channel of 155.15-164.00. The pair has been consolidating over the last seven days and needs a further boost for a s
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XM Research - 2 days agoBullish

Technical Analysis – USDJPY tests new 3½-month high

USDJPY makes an attempt for steeper bullish actionsMACD and RSI confirm upside momentumUSDJPY is rising towards a fresh three-and-half-month high of 149.71, posting the fifth consecutive green 4-hour session. The next strong battle likely awaits at the 150.00 psychological level, but the next resistance lies at the 151.90 level, taken from the inside swing low on July 25. But first, the price needs to overcome the 200-day simple moving average (SMA), which is at 151.20.Otherwise, a decline ben
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XM Research - 2 days agoBullish

Technical Analysis – US 30 index celebrates another record high

US 30 index strengthens uptrend to all-time high of 42,904Short-term bias is positive, but the way up may not be straightThe US 30 index (cash) hit an all-time high of 42,904 in less than a month on Friday and closed above the constraining line at 42,550, raising confidence that its record rally has more room to go.Having bounced off its 20-day simple moving average (SMA), the bulls may face immediate resistance within the 43,155-43,500 constraining region given the overbought signals comin
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XM Research - 2 days agoNeutral

EURCHF is in the green, back inside the developing patternThe medium-term downward trend is still in placeMomentum indicators remain inconclusiveEURCHF is trading higher again today, a tad below the busy 0.9403-0.9423 area. Last week’s break below the lower trendline of the developing contracting triangle proved premature, as EURCHF quickly returned inside this pattern.
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XM Research - 2 days agoNeutral

Weekly Technical Outlook – EURUSD, GBPUSD, USDJPY

ECB expected to cut rates by 25 bps; EURUSD remains beneath 1.1000UK CPI could provide some clues for the next BoE decision; GBPUSD in weak modeUS retail sales may lower chances for another Fed rate cut; USDJPY flirts with 149.35ECB decision -->  EURUSDThe upcoming ECB interest rate decision on Thursday is this week's most anticipated event. Initially opposed by President Lagarde and her colleagues, the possibility of a rate decrease in October has gained traction among investors.�
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XM Research - 2 days agoBullish

Technical Analysis – Gold might take another bullish shot

Gold enters a new bull run; shifts spotlight to all-time highTechnical signals point to more upside; close above 2,650 needed Gold started a new bullish corrective phase near the 2,600 level last week, adding extra credence to its upward trend that has been active for more than two months.On Monday, the price climbed to 2,666, surpassing the short-term falling trendline from September’s peak that the bulls must break to reach the top of 2,670 or achieve a new record high near the upper ban
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XM Research - 5 days agoNeutral

Technical Analysis – US 100 index slows down near September’s high

US 100 index holds within bullish area but lacks steamBulls need a close above 20,325-20,500 to strengthen uptrendThe US 100 stock index is about to open mildly lower on Friday despite upbeat US banking earnings, weighed by Tesla’s disappointing guidance on its self-driving robotaxis.The index stabilized around September’s high and near the constraining ascending line from September 2022 at 20,316 following its bounce off the 20-day exponential moving average (EMA).
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XM Research - 5 days agoNeutral

Cryptocurrencies remain on the back footEthereum is still trading below its 50-day SMAMomentum indicators could turn bullishEthereum is recording a green session today, but it remains firmly below the 50-day simple moving average (SMA), which continues to act as strong resistance at this stage. The muted rally in stocks has failed to inspire crypto investors with yesterday's headlines that another crypto exchange is targeted by the SEC adding to the overall negative sentiment.In the meantime
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XM Research - 5 days agoBullish

WTI oil futures turn up, create bullish candlestick patternOptimism could resurface if bulls break above 77.16-79.00WTI oil futures bounced swiftly up to 76.23 on Thursday, revealing that the bulls have not left town yet.While the price was struggling to find fresh buyers at the time of writing, the bullish doji candlestick pattern created over the past two days retained hopes for a bullish continuation.
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XM Research - 5 days agoNeutral

Technical Analysis – EURJPY moves within consolidation area

EURJPY struggles to drop beneath 38.2% FibonacciMACD and RSI have weak momentumEURJPY has been developing within a trading range of 155.15-164.00 over the last couple of months, with strong resistance coming from the 200-day simple moving average (SMA) around 164.40.Technically, the RSI is pointing slightly above the neutral threshold of 50; howeve
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XM Research - 5 days agoBullish

Technical Analysis – USDCAD extends its bullish rally to new 2-month high

USDCAD completes 8 green daysMACD and RSI indicate strong positive momentumUSDCAD skyrocketed to another fresh two-month high of 1.3774 during yesterday's session, adding more than 2.5% following the rebound from the double bottom pattern around 1.3420. The aggressive buying activity above the 1.3650 barrier, which served as a neckline, completed the latest formation.Currently, the price is experiencing its eighth straight green day, with the technical oscillators showing more room for impro
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XM Research - 6 days agoNeutral

Midweek Technical Look – EURUSD, USDCAD, gold

EURUSD retains selling interest beneath 1.0950USDCAD declines after aggressive buying interest to 2-month highGold finds support at 2,600 critical level
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XM Research - 6 days agoBullish

Technical Analysis – USDCHF looks promising ahead of US CPI data

USDCHF finds fresh buying near 50-day SMA; rises to six-week highShort-term outlook remains positive, but a pullback cannot be ruled outUS CPI inflation data may create fresh volatility at 12:30 GMTUSDCHF secured strong footing near 50-day simple moving average (SMA) and extended its bullish break out of the monthly range to a six-week high of 0.8609 on Wednesday.Despite the current weak price momentum, the technical indicators suggest there could be more bullish potential.
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XM Research - 1 week agoNeutral

EURGBP is trading sideways, below the 0.8400 levelUpleg stopped at a downward sloping trendlineMomentum indicators could turn bullishIt has been a rather quiet session in EURGBP today as the market prepares for today’s Fed minutes release and tomorrow’s US inflation report. Euro bulls tried to extend the recent upleg, but their efforts stopped at the April 23, 2024 trendline with EURGBP now trading below the key 0.8400 area.
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XM Research - 1 week agoBullish

Technical Analysis – USDJPY hovers near 38.2% Fibonacci level

USDJPY creates bullish correction from 14-month lowRSI and MACD stand above their mid-levelsUSDJPY is holding above the 38.2% Fibonacci retracement level of the down leg from 161.94 to 136.56 at 148.10 but is failing to extend its rebound from the 14-month low of 139.56 above the previous peak of 149.35.Having a look at the technical oscillators, t
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