USDCAD refused to close below the 200-day simple moving average (SMA) and the supportive trendline last week, staging a remarkable rally instead that led the price above the long-term ascending trendline and to eight-month highs on Friday. The price also pierced the 61.8% Fibonacci of the 1.3663-1.2950 downleg, increasing hopes that more gains could be […]

In response to the ever-growing demand of African traders for more in-depth knowledge about online investing practices, XM continues its extensive free forex education throughout the continent in 2020. The first part of the XM free seminar series kicks off on 18th April in Tanzania and due to continue its way to many more African […]

GBPJPY has maintained aggressive selling movement over the last sessions, recording a new three-month low of 140.10 earlier today. The bearish structure in the very short-term is confirmed by the technical indicators, which are hovering in the oversold zone. The MACD is extending its negative tendency well below trigger and zero lines, while the RSI […]

CADJPY has been in the red over the last four days, but it is still trading within an upward sloping channel, which has been holding since September 2019. The latest drop started after the pair found a wall at the one-year high of 84.75. According to the RSI, the market could push for further losses in the short-term as […]

CADJPY has been in the red over the last four days, but it is still trading within an upward sloping channel, which has been holding since September 2019. The latest drop started after the pair found a wall at the one-year high of 84.75. According to the RSI, the market could push for further losses in the short-term as […]

NZDUSD is in an upside pull back mode following the fall to the four-month low of 0.6280. Over the last two months, the pair has been developing in a descending move, but in the very short-term an upside correction is expected. The RSI is pointing north in the negative area, while the MACD is gaining […]

The US 30 stock index faced strong selling this week that forced the price to abandon the 10-month old channel and drop to a four-month low of 26,483, where the 38.2% Fibonacci of the 21,596-29,582 upleg happens to be. A rebound or some stabilization near recent lows cannot be ruled out as the RSI and […]

We would like to inform our clients that due to Clean Monday, which takes place in March, the trading hours of an instrument will be affected on 2 March 2020. Please view the table below to see which instrument will be affected and how: Instrument 02/03 03/03 GRE20Cash Closed Normal Hours Kindly note that all […]

EURCAD is set to close strongly bullish after three consecutive negative weeks, with the pair accelerating from a three-year low of 1.4262 to three-week highs. Looking at the four-hour chart, the RSI’s position provides some cautious signals as the indicator is already above its 70 overbought mark, though it has yet to show signs of […]

The US 500 index (Cash) has been in free fall mode since February 20 as it hit resistance at the record high of 3,392.21. The price is creating the biggest sell-off run since December 2018 and is approaching the nine-month ascending trend line, posting a fresh four-month low near the 200-day simple moving average (SMA) at 3,060. From a technical viewpoint, […]

The yen’s status as a safe-haven has come into question lately, amid concerns that the virus could hammer Japan’s exporters and tilt the already fragile economy into recession. The yen has also lost some of its defensive appeal because the euro is emerging as a funding currency, giving it haven-like characteristics as well. This is […]

GBPCHF has been consolidating since reaching a 7-month peak of 1.3307 in December, forming a ceiling around 1.2850 and a floor around 1.2530 in a sideways range. It’s worth pointing out though, that price action has recently moved below the Ichimoku cloud, suggesting that the risk of a breakout below the range is greater than […]

GBPNZD hit the highest point since June 2016 on Wednesday but the pair barely breached the October peak of 2.055 which is also a former key resistance area, sending warnings that the bullish momentum may soon lose steam. Any downside correction, however, may prove temporary if the rising 20-day simple moving average (SMA) currently around […]

Canada will report GDP numbers for the fourth quarter on Friday (13:30 GMT) when trade tensions and industrial strikes are expected to have ground growth to a near halt. With economic conditions not likely to have improved in the first quarter, the data will be watched carefully by policymakers at the Bank of Canada, who […]

The Fed’s favorite inflation measure, the core Personal Consumption Expenditure (PCE) index will be out on Friday at 13:30 GMT accompanied with personal consumption and income data. The release which regards the month of January is expected to show a slightly stronger inflation for the second consecutive month, but the news will not affect much […]

AUDUSD is looking more bearish by the day in both the near-term and medium-term time frames as the pair keeps carving out fresh 11-year lows after a brief pause. Momentum indicators suggest the negative picture will persist at least in the coming days. The RSI has turned lower again to re-enter the oversold region, while […]

US stock markets in meltdown as virus concerns deepen News flow might worsen from here, so risk aversion could linger King dollar dethroned by resurgent yen and a euro that looks more like a safe haven Aussie/dollar collapses to new 11-year low after soft data Safe havens shine, equities plunge as risk aversion reigns The […]

USDJPY erased all the impressive gains that led to a 10-month high of 112.21 last week, closing negative for the third consecutive day on Tuesday and marginally above the 110.00 level. The 20-day simple moving average (SMA), which is also the middle Bollinger band, contained the bearish move and the pair is currently pushing efforts […]

Quarterly data on construction (Wednesday, 0030 GMT) and capital expenditure (Thursday, 0030 GMT) are awaited in Australia this week and should provide some indication as to what to expect from Q4 GDP numbers due next week. It’s likely capital spending will have risen for the first time in a year in the December quarter, but […]

NZDJPY is testing the bottom of the 71.22-69.90 range, which is likely to collapse as the RSI has restored negative momentum in the bearish area and the 20-day simple moving average (SMA) is heading for a bearish cross with the 200-day SMA. The 50% Fibonacci is also in the neighborhood making any violation of the […]

The German 30 stock index, having unlocked a fresh record high at 13,826 last week, plummeted below the Ichimoku cloud for the first time since August on Monday but the strong cluster of support around 12,950 managed to curb the sharp downfall once again. Technically, there is more downside in store in the near-term according […]

Stocks stage tepid rebound but virus fears continue to cast shadow over markets Dollar on the backfoot on rising Fed rate cut expectations; gold slips Aussie and kiwi pause slide as softer dollar provides some relief Markets calmer after stocks suffer biggest drop since 2016 Global stock markets stabilized on Tuesday after yesterday having their […]

EURGBP is consolidating within a trading range over the last two months with an upper boundary at the 0.8590 resistance and the lower boundary at the 0.8275 support level. Currently, the pair is capped by the 20-day simple moving average (SMA) and the blue Kijun-sen line. The technical indicators are moving with weak momentum within the bearish territory; […]

EURGBP is consolidating within a trading range over the last two months with an upper boundary at the 0.8590 resistance and the lower boundary at the 0.8275 support level. Currently, the pair is capped by the 20-day simple moving average (SMA) and the blue Kijun-sen line. The technical indicators are moving with weak momentum within the bearish territory; […]

GBPUSD printed another lower low at 1.2848 on Thursday, making the case for a down-trending market more real. Also, the pair seems to be trading within a downward-sloping channel that has been keeping the market action under control since the start of the month, while the bearish cross between the 20- and 50-day simple moving […]