EURUSD re-activated its two-year old downtrend after forcefully clearing the 1.0777 floor last week to print fresh lows at 1.0635 on Monday. The price is currently pushing efforts to recoup some lost ground but the slight improvement in the RSI and the Stochastics, which are still well into the bearish area and near oversold terittory, […]

USDJPY has been creating an upward sloping channel since the bounce off the more than three-year bottom on 101.15, achieved on March 9, in the 4-hour chart. Currently, the price is capped by the red Tenkan-sen line and finds support at the 20-period simple moving average (SMA), looking forward for a potential positive session. According to the technical […]

Economic data has become sidelined during the virus crisis as the market’s attention has focused on policymakers’ response to the fast-spreading pandemic. However, as we now start receiving data for March – when the outbreak escalated outside of China – investors are likely to start taking more notice of the incoming releases. The flash PMI […]

The virus pandemic continues to wreak havoc on the global economy and financial markets. Stocks are in freefall, commodity currencies are getting hammered, and even safe havens like gold can’t shine as the market meltdown is forcing major funds to deleverage by ‘selling everything’. In this panicky environment, investors are unlikely to pay much attention […]

The virus pandemic continues to wreak havoc on the global economy and financial markets. Stocks are in freefall, commodity currencies are getting hammered, and even safe havens like gold can’t shine as the market meltdown is forcing major funds to deleverage by ‘selling everything’. In this panicky environment, investors are unlikely to pay much attention […]

Silver prices have gained little over the last couple of sessions, holding above the eleven-year trough of 11.60 that was posted earlier this week. However, the 50-day simple moving average (SMA) is in the process of creating a ‘death cross’ with the 200-day SMA, confirming the steep decline in the preceding days. Regarding the near-term technical viewpoint, the stochastic is pointing marginally up in […]

Stocks edge higher after a savage week as emergency responses stepped up Dollar pulls back but dash for cash likely not over just yet Pound and aussie bounce higher after BoE and RBA announce QE Stocks stage a comeback; will it last? Global stocks enjoyed a much-needed reprieve from the fierce selling pressure of the […]

In an attempt to alleviate the global pandemic caused by the coronavirus (COVID-19), XM made a generous donation to the World Health Organisation (WHO) on 18th March. The coronavirus epidemic outbreak in December has rapidly reached unprecedented proportions, infecting over 200,000 people in over 160 countries and territories around the world by 17 March. While […]

In an attempt to alleviate the global pandemic caused by the coronavirus (COVID-19), XM made a generous donation to the World Health Organisation (WHO) on 18th March. The coronavirus epidemic outbreak in December has rapidly reached unprecedented proportions, infecting over 200,000 people in over 160 countries and territories around the world by 17 March. While […]

EURGBP seems to be correcting from the 11-year high of 0.9498, after a phenomenal two-day aggressive rally sent the pair to historic highs not seen since 2009. The move down past the 0.9148 support is currently encountering some hindrance from the upward sloping red Tenkan-sen line slightly lower. The short-term oscillators reflect strengthening negative momentum […]

EURGBP seems to be correcting from the 11-year high of 0.9498, after a phenomenal two-day aggressive rally sent the pair to historic highs not seen since 2009. The move down past the 0.9148 support is currently encountering some hindrance from the upward sloping red Tenkan-sen line slightly lower. The short-term oscillators reflect strengthening negative momentum […]

EURGBP seems to be correcting from the 11-year high of 0.9498, after a phenomenal two-day aggressive rally sent the pair to historic highs not seen since 2009. The move down past the 0.9148 support is currently encountering some hindrance from the upward sloping red Tenkan-sen line slightly lower. The short-term oscillators reflect strengthening negative momentum […]

USDJPY reversed its massive sell-off near a familiar support level of 101.17, which was active during the 2013-2016 period, and accelerated above its simple moving averages (SMA) and back towards the 111.00 area. On Thursday, the pair also managed to return above the broken ascending trendline, casting doubt on the prospect of a down-trending market, while all […]

WTI crude oil futures produced the multi-year low of 20.50 on Wednesday, pivoting up to touch the inside swing low from January 2016 at 27.54. The commodity surpassed the 20-period simple moving average (SMA), suggesting a potential bullish correction in the very short-term. This slightly bullish action is confirmed by the technical indicators. The RSI […]

WTI crude oil futures produced the multi-year low of 20.50 on Wednesday, pivoting up to touch the inside swing low from January 2016 at 27.54. The commodity surpassed the 20-period simple moving average (SMA), suggesting a potential bullish correction in the very short-term. This slightly bullish action is confirmed by the technical indicators. The RSI […]

EURJPY looks to be lacking direction lately with the price currently trading between the 200- and 50-period simple moving averages (SMAs). The mostly neutral picture is also reflected in the short-term oscillators, though the stochastics lean more to a negative mode as the blue %K line has completed a bearish crossover with the red %D […]

Apple’s stock has been trending downwards since the peak at an all-time high of 327.70, losing as much as 24%. On Wednesday the company unveiled new products but the virus situation kept traders cautious, with the stock unable to rebound above the 200-day simple moving average (SMA). In the momentum indicators, the RSI and the MACD have […]

EURUSD had a flash downside correction below the downward-sloping channel today, stretching its ten-day old sell-off to a three-year low of 1.0725. The MACD continues to lose momentum below its trigger line, the RSI is making its way down below its 30 oversold level, while the stochastic oscillator is reversing south again, all signaling a bearish trading in the short-term. Also, the 20- […]

USDCHF’s attempts to continue its ascent – despite reaching a new one-month high of 0.9815 – breached but failed to close above the inside swing high of 0.9750 and the 0.9778 and 0.9815 obstacles. The enduring positive move which has nearly recouped all the losses from the 0.9848 peak seems to be backed by the […]

EURNZD found some footing around the ten-year high of 1.9922 before edging lower near the 23.6% Fibonacci retracement level of the upward move from 1.6615 to 1.9922 at 1.9145. The red Tenkan-sen line, remains well above the blue Kijun-sen and the RSI is currently flirting with overbought levels, while the stochastic is turning lower into the positive area […]

Virus panic drives investors to cash, pushing dollar to 3-year high No end in sight to stock market rout despite plethora of stimulus Yen and gold struggle; bonds suffer rare sell-off Pound crashes to 1985 low; aussie, kiwi and loonie also sink Cash is king The market turmoil over the growing coronavirus pandemic continues to […]

Gold closed slightly below the 200-day simple moving average (SMA) on Wednesday for the first time since the end of 2018, having breached the supportive trendline from 1,269 earlier this week too. Adding to the bearish sentiment, the RSI continues to extend south and is ready to pierce its 30 oversold level, while the MACD […]

It is with great pride to announce that in recognition of its unrelenting dedication to quality, XM was awarded Best FX Service Provider 2020 by City of London Wealth Management Awards. The award ceremony took place at The Guildhall in the City of London on 4th March, where XM was yet again officially announced as […]

It is with great pride to announce that in recognition of its unrelenting dedication to quality, XM was awarded Best FX Service Provider 2020 by City of London Wealth Management Awards. The award ceremony took place at The Guildhall in the City of London on 4th March, where XM was yet again officially announced as […]

US dollar index futures (June delivery) exploded higher in recent weeks, as the global pandemic crisis has ignited a dollar liquidity shortage. The price is now trading at three-year highs, with the structure on the weekly chart consisting of higher highs well above the 50- and 200-week moving averages (MAs), which posted a ‘golden cross’ […]