WTI oil futures for April delivery is in free-fall mode on Monday after OPEC+ meeting triggered a price war between Saudi Arabia and Russia last week. Oil price opened 11% lower on Monday and at a multi-year low of 27.32, though not far from 2016 troughs. Technically, the market is strongly oversold as the RSI is printing new […]

WTI oil futures for April delivery is in free-fall mode on Monday after OPEC+ meeting triggered a price war between Saudi Arabia and Russia last week. Oil price opened 11% lower on Monday and at a multi-year low of 27.32, though not far from 2016 troughs. Technically, the market is strongly oversold as the RSI is printing new […]

Gold’s pullback from a multi-year high of 1,703 found support at the mid-Bollinger band around 1657 and the very short-term supportive trendline pulled from February 28. The short-term oscillators suggest positive momentum is picking up, with the RSI improving ahead of its 50 mark and the MACD holding just at its red trigger line in […]

Gold’s pullback from a multi-year high of 1,703 found support at the mid-Bollinger band around 1657 and the very short-term supportive trendline pulled from February 28. The short-term oscillators suggest positive momentum is picking up, with the RSI improving ahead of its 50 mark and the MACD holding just at its red trigger line in […]

Gold’s pullback from a multi-year high of 1,703 found support at the mid-Bollinger band around 1657 and the very short-term supportive trendline pulled from February 28. The short-term oscillators suggest positive momentum is picking up, with the RSI improving ahead of its 50 mark and the MACD holding above its red trigger line in the […]

Gold’s pullback from a multi-year high of 1,703 found support at the mid-Bollinger band around 1657 and the very short-term supportive trendline pulled from February 28. The short-term oscillators suggest positive momentum is picking up, with the RSI improving ahead of its 50 mark and the MACD holding above its red trigger line in the […]

EURUSD surged to a fresh 13-month peak near the 1.1500 handle earlier today, continuing the aggressive buying interest that started on the 34-month low of 1.0770 on February 20. The pair seems to be strongly bullish in the very short-term after it surpassed the 1.1450 barrier. However, the stochastic oscillator suggests an overbought market and […]

EURUSD surged to a fresh 13-month peak near the 1.1500 handle earlier today, continuing the aggressive buying interest that started on the 34-month low of 1.0770 on February 20. The pair seems to be strongly bullish in the very short-term after it surpassed the 1.1450 barrier. However, the stochastic oscillator suggests an overbought market and […]

The main event next week will be the European Central Bank (ECB) policy meeting, where markets are pricing in a 90% probability for a rate cut even though economists forecast no action. It’s a close call, but the fragmented ECB may opt for more targeted lending measures to shield the economy from the virus fallout, […]

China will report trade numbers for February on Saturday – the first since authorities imposed lockdowns on many cities – and so the data will be seen as an important barometer to how badly business activity was impacted by the outbreak of the coronavirus. Any indication that the factory shutdowns had a far more devastating […]

On 29th February, our live forex education reached a further city in Mexico: Querétaro. Staying committed to our belief that on-site events belong to the best ways to provide education to online investors, our seminar in Querétaro was all about bringing expert knowledge closer to our event guests. Online investors looking for enhanced knowledge, professional […]

GBPJPY is resuming negative momentum below the 200-day simple moving average (SMA) after some consolidation in the past few days that took the form of a bearish rectangle in a smaller timeframe (look at 4-hour chart). The next move in the price is likely to be down as the RSI is reversing south again and the MACD keeps […]

EURAUD stretched its bullish rally to a ten-and-a-half-year high of 1.7127 in the last week before pulling lower. The MACD seems to be gaining momentum above its red signal line, the RSI is still hovering around its 70 overbought mark and the red Tenkan-sen is holding well above the flat blue Kijun-sen, all signaling a more positive trading in the short […]

Dollar and stocks take another battering as virus fears grip markets Investors continue to flock to safety, euro a surprise beneficiary US jobs report not expected to trim Fed rate cut expectations; OPEC eyed too No reprieve for dollar sell-off The US dollar extended its losing streak on Friday, skidding to two-month lows against a […]

USDCHF fell aggressively on Thursday to two-year lows and near the 0.9430 crucial support region taken from the 2016-2017 period, approaching the 78.6% Fibonacci of the 0.9186-1.0234 upleg. Hence, since the RSI and the Stochastics are fluctuating well into the oversold area too, the odds for a rebound are increasing, shifting attention towards the 0.9575-0.9596 […]

USDCAD looks to be creating a floor below the eight-month high of 1.3463 and near the 61.8% Fibonacci retracement level of the down leg from 1.3664 to 1.2950 at 1.3390. Furthermore, the price remains well above the penetrated falling trend line, signaling more upside pressure in the short-term. The technical indicators seem to be losing […]

OPEC members tentatively agreed on Thursday to deliver a larger output cut than they initially proposed last month in the face of the coronavirus outbreak. But it is now up to Russia to approve it when it joins the meeting on Friday. While it is almost certain that Moscow will cave in, there is little optimism that the announcement will trigger the much-needed […]

OPEC members tentatively agreed on Thursday to deliver a larger output cut than they initially proposed last month in the face of the coronavirus outbreak. But it is now up to Russia to approve it when it joins the meeting on Friday. While it is almost certain that Moscow will cave in, there is little optimism that the announcement will trigger the much-needed […]

After the Bank of Canada slashed interest rates this week, expectations are running high that more will follow, and the next clue may come from Canada’s jobs numbers on Friday (13:30 GMT). While the BoC’s bigger-than-expected cut this week was primarily motivated by the virus fallout, there have been a few other trouble spots lurking […]

EURCAD stretched its two-week rally towards a nine-month high of 1.5032 earlier today. The market trend is likely to hold on the upside as long as the price holds far above its moving averages and the Ichimoku cloud. The MACD seems to be gaining momentum above its red signal line, the RSI is still hovering around its 70 overbought […]

The free forex seminar series started by XM in 2020 in Latin America reached its first event venue, Bogotá, on 22nd February, where we returned to offer online investors further opportunities for professional forex education. Organised on the premises of Hotel Sheraton Bogotá, the seminar topic Technical Indicators, Oscillators and Japanese Candlesticks featured the joint […]

The latest US employment data will hit the markets at 13:30 GMT on Friday and although forecasts point to another decent report, that may not be enough to stop the Fed from cutting rates again soon amid virus concerns. As for the dollar, there might be more pain to come in the near term as […]

To celebrate the start of 2020, between 2-31 January we offered our existing and new clients in Pakistan an exclusive forex promotion for a chance to win a series of fantastic prizes. The promotional lucky draw raffle took place on 5th February, and now that our winners are in, we would like to congratulate them […]

To celebrate the start of 2020, between 2-31 January we offered our existing and new clients in Pakistan an exclusive forex promotion for a chance to win a series of fantastic prizes. The promotional lucky draw raffle took place on 5th February, and now that our winners are in, we would like to congratulate them […]

NZDUSD has gained ground this week, advancing above the ten-and-half-year low of 0.6190 and the short-term moving averages, with the technical indicators feeding prospects for a possible positive trading. The RSI holds well above 50, while the MACD continues to strengthen in bullish territory and above its red trigger line.  Also, in the Ichimoku indicators, […]