Conflicting trade signals by China and the United States confuse markets Loonie surges after BoC’s Poloz dampens rate cut expectations; retail sales eyed next Euro spikes higher, then falls on flash Eurozone PMIs Major pairs set to end week little changed Markets were overcome by trade news fatigue on Friday as days of conflicting messages […]

Conflicting trade signals by China and the United States confuse markets Loonie surges after BoC’s Poloz dampens rate cut expectations; retail sales eyed next Euro spikes higher, then falls on flash Eurozone PMIs Major pairs set to end week little changed Markets were overcome by trade news fatigue on Friday as days of conflicting messages […]

EURGBP recovered a little after taking the shape of a doji near a 6 ½-month trough of 0.8620 on Monday. In momentum indicators, the RSI bounced off its 30 oversold mark, denying to register a new lower low at a time when the MACD continues to strengthen its positive momentum in the negative territory, both suggesting that the selling […]

EURCAD buyers have hit a wall at the 1.4772 resistance, which is the 61.8% Fibonacci retracement of the down leg from 1.4994 to 1.4415, bringing the recent rebound off 1.4455 into question. The technical indicators are displaying mixed signals. Warning of a pullback is the declining RSI in the bullish zone and the turn down […]

In the euro area, preliminary PMIs for November are due out at 09:00 GMT on Friday. The French and German numbers will be released a few minutes earlier, so any market reaction could begin with those. Forecasts point to an uptick in all figures, but even if those estimates are met, that would still point […]

Tesla sellers are currently attempting to halt further gains past the 360 hurdle. The stock gapped above the 200-day simple moving average (SMA) and the 266 swing high of July 24, overstretching the price, resulting in nearly all the declines from December 2018 to June 2019 being recouped. The short-term oscillators presently continue to reflect […]

Fears grow that a ‘phase one’ trade deal between the United States and China might be delayed Row over Hong Kong adds to complications in talks as China plays down disagreement Stocks under pressure, yen and gold extend gains Oil eases on trade woes following surge from US inventories and Russia output pledge   Reports […]

USDJPY is currently resting at the 108.43 level, which is the 50.0% Fibonacci retracement of the down leg from 112.39 to 104.45. The pair appears to be adopting a short-term sideways move, something also reflected by the mostly flat 100-day simple moving average (SMA), the convergence of the 200- and 40-day SMAs and the price […]

GBPJPY continues to bounce between the 140.70 and 139.40 boundaries, constructing a rectangle which looks to be a bullish formation as the pattern follows an uptrend started from the 3-year low of 126.53. The double bullish cross of the 20-day simple moving average (SMA) with the longer 50- and 200-day SMAs is another encouraging trend signal if […]

NZDJPY is in the process of pushing above the 69.75 restrictive level – which is the 50.0% Fibonacci retracement of the down leg from 73.23 to 66.30 – a point within a range of 70.02 to 68.93, which buyers have struggled with overcoming over the last month. The short-term oscillators reflect weakness in directional momentum […]

GBPCAD is pushing above a key resistance of 1.7133 from the swing high from May 29. The ascent which commenced on August 9 is aided by the progressing bullish cross of the 50-day simple moving average (SMA) and the improving positive momentum in the technical indicators. The short-term oscillators suggest that positive directional momentum is […]

AUDUSD, although looking bearish, has eased its descent, caught between the 100-day simple moving average (SMA) – located at the 0.6831 resistance – and the 0.6767 support. The latter is the 23.6% Fibonacci retracement of the down leg from 0.7081 to 0.6670, where the drop from the down trendline was previously halted. The short-term oscillators […]

Increased caution on US-China trade talks gives rise to safe-haven demand Hong Kong tensions cast cloud over trade progress as US Senate bill angers China Pound pressured after Johnson-Corbyn televised debate Mixed signals on trade talks put a lid on risk appetite Risk sentiment soured slightly on Wednesday as investors grew wary about the possibility […]

NZDUSD pulled below the familiar resistance level of 0.6435 but held within the 0.6400 area, with the momentum indicators pointing to a neutral short-term session as the RSI is heading towards its 50 mark and the MACD seems to be losing steam above its red signal line. A closing price under 0.6400, where the 20-day […]

CADJPY although in a downward channel looks undecided resting on the 200-day simple moving average (SMA). Directional momentum has disappeared as reflected in the short-term oscillators with the MACD and RSI flat at their neutral marks. Further backing this picture and implying that the pair may adopt a short-term side move are the SMAs, which […]

The next market-moving release for the dollar will be on Wednesday at 19:00 GMT, when the Fed releases the minutes of its latest meeting, where rates were cut again but the central bank signaled that it will pause its easing cycle. Back then, Chairman Powell hinted that the Fed may be willing to let the […]

On 19th October, the XM forex seminar series started a few months ago throughout the African continent reached the city of Dar es Salaam, Tanzania. Designed for online investors interested in currency trading and looking to learn about the most efficient ways to set up their individual investing strategies, our seminar first of all focused […]

The BoC chief, Stephen Poloz, left interest rates at 1.75% this month and at the highest among advanced economies, refraining to follow the dove camp that most of its major counterparts joined to countermeasure the negative spillovers from the US-China trade war. While higher rates keep Canadian bond yields relatively more attractive to investors, Canada’s […]

Shortly after having hosted a free forex seminar in Dar es Salaam in Tazania, XM continued its way to the city of Accra, Ghana, to offer local traders an opportunity to embark on free professional forex education that can make a difference in their trading routines. We were pleased to welcome numerous online investors to […]

During October and November, further successful forex trading seminars took place in various parts of Thailand, offering local investors excellent opportunities to benefit from professional education and improve their trading skills. The cities we visited this time were Hat Yai on 26th October, followed by Chiang Rai on 2nd and Ubon Ratchathani on 16th November. […]

GBPUSD’s positive sentiment seems to be unbroken as the pair holds above the 200-day simple moving average (SMA), eyeing the fresh peak of 1.3011. The price bounced off previous peaks from June (now-turned-support), repowering the positive signals of the MAs and the momentum indicators. The short-term oscillators suggest that positive momentum is improving. The MACD, […]

Dollar drops as Trump meets Powell to discuss interest rates and FX US stocks shrug off negative trade headlines, claim new record highs Aussie pulls back after RBA minutes, but recovers Dollar retreats as Trump discusses negative rates with Powell Fed Chairman Jay Powell met with President Donald Trump on Monday to discuss the economy. […]

EURCHF staged a spectacular rebound last week to surpass its shorter-term simple moving averages (SMAs) and enter the Ichimoku cloud in the four-hour chart. Buyers seem to have the upper hand as the MACD keeps extending positive momentum, the RSI is comfortably above its 50 neutral mark, and the triple exponential average (TRIX) is preparing […]

Twitter stock lost significant ground, gapping below the 200-day simple moving average (SMA) on October 24. The stock is holding its bearish demeanor as the 50-day SMA nears a bearish cross of the 200-day SMA, which would further back the negative picture. The ADX also confirms that a strong negative trend is in place. However, […]

US 500 stock index continues to gain ground after the push up on October 3, showing no definitive signs of retreating as it clocks yet another fresh all-time high of 3,128.12. The price has distanced itself above the Ichimoku cloud, as has the Tenkan-sen done above the Kijun-sen line, backing the positive picture. Furthermore, the […]