Last week, the US dollar ended in the red on a wave of a number of reasons that, in our opinion, can further contribute to its weakening. The first, as before, is the actual beginning of the incentive program, which is very similar in terms of the parameters of the first QE, that began back […]

USDCHF tumbled near the key 0.9843 support level that strongly rejected downside corrections in late September. The double bearish crossovers marked by the 20- simple moving average (SMA) falling below the 50- and 200-day SMAs flag that the trend is likely to extend to the downside. Yet in the short-term, some consolidation cannot be ruled out as […]

NZDJPY is attempting to climb above a key resistance area. The area consists of the 100-day simple moving average (SMA), the 69.67 resistance, the upper bound of the Ichimoku cloud and the 50.0% Fibonacci retracement of the down leg from 73.23 to 66.30. The stochastics have risen into the overbought zone but the %K has […]

GBPCAD stalled near the 61.8% Fibonacci of the 1.7793-1.5873 bearish wave following the close above the 200-day simple moving average (SMA), having printed two green weeks in a row. The downside reversal in the Stochastics combined with the flattening Ichimoku indicators and an RSI that looks to be easing momentum above its 70 overbought mark […]

UK Parliament postpones vote on revised Withdrawal Agreement, raising uncertainty But pound holds on to most gains as Prime Minister forced to request Brexit extension Markets mostly in risk-on mode amid positive US, China trade remarks Parliament puts the brakes on Boris’ Brexit plan British MPs voted to withhold their approval of the UK government’s […]

Gold continued to trade along the downward-sloping trend-line following the negative breakout of an ascending channel, despite closing neutral last week. Traders may maintain neutral behavior in the short-term according to the flattening RSI and MACD, probably keeping the market below the descending trend-line as the bearish crossover between the 20- and 50-day simple moving […]

We would like to inform you that due to the end of daylight savings in Europe on Sunday October 27 2019, and in the United States of America on Sunday November 3 2019, the trading hours of various instruments will be affected between 27 October and 4 November 2019. The normal trading hours will be […]

We would like to inform you that due to the end of daylight savings in Europe on Sunday October 27 2019, and in the United States of America on Sunday November 3 2019, the trading hours of various instruments will be affected between 27 October and 4 November 2019. The normal trading hours will be […]

GBPUSD registered a fresh five month high of 1.2987 before pulling back, cementing the new uptrend off the 1.1957 bottom. The 20-period simple moving average, which is sloping comfortably upwards and above the longer-term SMAs, increases the odds for a continuation of the bullish wave as well. The RSI, however, has been flattening above its overbought mark […]

The trade conflict between Washington and Beijing took a breather lately, after the two camps agreed on some small issues and reached a de-facto truce. Even if this small agreement is finalized in November though, a ‘big’ deal wouldn’t be any closer as neither side is ready to compromise on the real issues. For that […]

GER30 stock index bulls have consolidated around the 12661 (resistance-turned-support) level of July 4. The bulls tried to extend higher, but sellers reversed the price back down to 12,590, which is the 23.6% Fibonacci retracement of the up leg from 11,878 to 12,815. Despite the sideways move, the short-term oscillators now lean towards an improving […]

It will be relatively quiet on the data front in the coming week with just a handful of top-tier releases, but Mario Draghi’s last ever policy meeting at the helm of the European Central Bank should make for an interesting week. The ECB meeting will not be the only policy gathering in Europe as the […]

The US dollar index futures crashed below the short-term ascending line drawn from 95.34 and are now set to beat a longer support line stretched from March 2018. The fast-Stochastics and the RSI, however, signal that the bearish action is running out of fuel and hence a rebound off the line is likely as the indicators are […]

The US dollar index futures crashed below the short-term ascending line drawn from 95.34 and are now set to beat a longer support line stretched from March 2018. The fast-Stochastics and the RSI, however, signal that the bearish action is running out of fuel and hence a rebound off the line is likely as the indicators are […]

Risk Warning: 69.10% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. Please consider our Risk Disclosure: https://www.xm.com/goto/risk/en Risk warning is correct at the time of publication and may change. Please check our Risk Disclosure for […]

Risk Warning: 69.10% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. Please consider our Risk Disclosure: https://www.xm.com/goto/risk/en Risk warning is correct at the time of publication and may change. Please check our Risk Disclosure for […]

Risk Warning: 69.10% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. Please consider our Risk Disclosure: https://www.xm.com/goto/risk/en Risk warning is correct at the time of publication and may change. Please check our Risk Disclosure for […]

GBPJPY has taken a breather after sellers denied further gains. They reversed the price back below 140.34, which is the 61.8% Fibonacci retracement of the down leg from 148.86 to 126.53, following the rally that commenced 10 October. The momentum indicators concur with the stall in the positive outlook and this is backed by the […]

New Brexit deal heads to a vote in the UK Parliament on Saturday A rejection may see sterling open lower, but any retreat to stay short-lived Syria ceasefire pushes Turkish lira higher Several Fed officials speak today – crucial for October rate-cut pricing There and back again: A Brexit deal story After a week of […]

On 23rd November, XM hosts a forex seminar and workshop in the Greek capital, Athens, to offer traders the opportunity to join an informative educational event about investment techniques and strategies. For all those who take part, technical analyst and Tradepedia-certified instructor Charalambos Spyridis will deliver a presentation on trend-following strategies and techniques to plan […]

USDCAD is testing a long-term support trendline drawn from the 2017 trough after repeatedly failing to beat the tough wall around 1.3340. The bearish bias is still intact given the falling MACD and the negative direction in the RSI and therefore additional downside corrections are possible. Yet, in case the bearish action proves too weak to break […]

The Commodity Futures Trading Commission monitors three groups of participants in commodity markets. Learn why one of these three is usually on the correct side of markets at key price turns and what this means for gold investors. Subscribe to Elliott Wave International’s YouTube Channel: http://bit.ly/EWI-YouTube Or, follow Elliott Wave International around the web: –Facebook: […]

AUDUSD bulls gathered momentum above the 200-period simple moving average (SMA) and hit a one-month high of 0.6832 on Thursday, sending the RSI and the Stochastics in the four-hour chart towards the overbought territory. Hence, the odds for a downside correction are rising. However, if the price manages to hold within the 0.6800 area, a […]

US30 stock index buyers have been unable to decisively overcome the resistance of 27,069, despite the bullish signals backing the move which commenced on October 10. The 50- and 100-period simple moving averages (SMAs) have realigned themselves with the positive picture, completing a bullish crossover. The short-term momentum oscillators confirm the positive view despite the […]

It will be a significant day in the history of the Eurozone on October 31 when Mario Draghi – widely viewed as the man who saved the euro – will step down as President of the European Central Bank. He will be replaced by former IMF Managing Director Christine Lagarde, making her not only the […]