AUDNZD erased part of the August rebound after hitting a 10-month high of 1.0837, with the momentum indicators pointing now to a neutral-to-bearish short-term tendency. Τhe MACD keeps losing ground under its red signal line and the RSI has dropped marginally under its 50 neutral threshold and is flattening. The bigger picture, on the other hand, provides […]

EURUSD finally managed to rally above the four-month descending trendline and stretch towards a three-week high of 1.1033 on Thursday. On the four-hour chart, the short-term oscillators are all pointing upwards, suggesting that the bullish forces could stay intact. Despite that, traders should  treat the upside correction carefully as the RSI and the Stochastics approach overbought territory […]

EURJPY picked up steam on Thursday and hit two-week highs above the Ichimoku cloud in the four-hour chart, with the positive momentum in the RSI and the MACD painting a bright picture for the short-term. The area around 118.43, where the 38.2% Fibonacci of the upleg from 115.85 to 120.00 lies, is currently blocking the […]

USDJPY buyers seem to have a challenging resistance region of 107.49 – 107.80 to overcome, ahead of the restrictive 108.42 level, which is the 50.0% Fibonacci retracement of the down leg from 112.39 to 104.45. Although the price action is skewed to the downside, it remains between the 50- and 100-day simple moving averages (SMAs). […]

Conflicting reports on state of US-China trade talks pull sentiment in all directions Hope of a partial trade deal sees calm restored before top-level talks are set to start Euro shoots higher ahead of ECB minutes Pound not holding its breath for breakthrough as UK and Irish PMs meet for last-ditch Brexit talks Trade talks […]

Conflicting reports on state of US-China trade talks pull sentiment in all directions Hope of a partial trade deal sees calm restored before top-level talks are set to start Euro shoots higher ahead of ECB minutes Pound not holding its breath for breakthrough as UK and Irish PMs meet for last-ditch Brexit talks Trade talks […]

GBPJPY bears turned busy around the key barrier of 130.68 this week, a break of which could put the rebound off 3-year lows in question. A resumption of the negative momentum is possible according to the MACD which continues to strengthen under its red signal line, while the RSI needs to pierce above its 50 neutral […]

With over fifteen forex seminars held in Latin America since this January, XM continues with its on-site seminar series in many different countries across the Western Hemisphere to provide professional forex education to a growing number of forex traders. The two recent Latin American event locations, where we offered free seminar attendance to existing and […]

Monthly GDP growth readings for the month of August will come out of the UK on Thursday at 08:30 GMT and forecasts argue for a pullback in expansion as recent data out of the services sector have already warned. While the Brexit turmoil is holding the central bank’s hands tied, policymakers may not wait for […]

EURSEK buyers insist on moving higher, something also suggested by the upward sloping Tenkan-sen and Kinjun-sen lines. The bulls have maintained control in the rally that commenced on September 25, and it seems that their focus is on higher levels of more than a decade ago. The short-term oscillators reflect increasing positive momentum. The MACD […]

The latest employment data out of Canada – at 12:30 GMT on Friday – will reveal whether the economy remains an oasis of strength in an otherwise weakening global environment. Forecasts point to another decent month, but PMI surveys were not as optimistic, suggesting that a disappointment in the jobs data may be more likely. […]

The latest employment data out of Canada – at 12:30 GMT on Friday – will reveal whether the economy remains an oasis of strength in an otherwise weakening global environment. Forecasts point to another decent month, but PMI surveys were not as optimistic, suggesting that a disappointment in the jobs data may be more likely. […]

AUDUSD buyers are attempting to retake control after the restricting 40-day simple moving average (SMA), halted the rally, which commenced off the fresh multi-year low of October 2. Momentum seems to have stalled, as also reflected by the short-term oscillators, which contradicts the bigger negative picture. The MACD, which is in negative areas and marginally […]

Fed’s Powell announces expansion of balance sheet, possible rate cuts but dollar supported by trade gloom Trade talks continue amid worsening US-China relations as US imposes more restrictions Pound slumps again as Brexit talks are close to collapse Dollar unshaken by dovish Powell The dollar index – a measure of the US currency against a […]

WTI oil futures for November delivery turned indecisive after failing to pierce the floor around the 23.6% Fibonacci of the downleg from 76.87 to 42.53 last week. The short-term bias,on the other hand, remains negative as the price is trending below its moving averages, the RSI is showing no improvement below its 50 neutral mark, […]

The DJIA started a 36% decline near the time a major magazine published a story about man’s ambition to go to the moon. Just recently, the same magazine featured an almost identical cover. Here’s what EWI’s analysts have to say about it … Subscribe to Elliott Wave International’s YouTube Channel: http://bit.ly/EWI-YouTube Or, follow Elliott Wave […]

GBPNZD bears are trying to push beneath the 1.9342 level, which is the 38.2% Fibonacci retracement of the up leg from 1.8275 to 2.0000. Dominating sellers corrected the price back down – plotting lower lows and lower highs – concurring with the negative picture from the momentum indicators. The short-term oscillators reflect strengthening negative momentum. […]

The Federal Reserve will publish the minutes of its September 17-18 policy meeting on Wednesday at 18:00 GMT. Inflation data out of the United States due on Thursday (12:30 GMT) will also be watched as investors seek clues for the Fed’s next move as the October meeting looms on the horizon. But with the US […]

USDTRY rally ceased at 5.85, which is the 50.0% Fibonacci retracement of the down leg from 6.24 to 5.45. The bulls drove the price above multiple resistances within the trading range of 5.64 – 5.84, which commenced around the beginning of September. The short-term oscillators reflect mixed signals. The MACD has inclined above its red […]

In the second part of September, XM welcomed numerous Moroccan traders at the free forex seminars organised in the cities of Casablanca and Agadir. Hosted on Casablanca on 21st and soon afterwards in Agadir on 28th September, the seminar titledSpotting Trend Reversals with Candlesticks and the Avramis River was especially designed to demonstrate why certain […]

In the second part of September, XM welcomed numerous Moroccan traders at the free forex seminars organised in the cities of Casablanca and Agadir. Hosted on Casablanca on 21st and soon afterwards in Agadir on 28th September, the seminar titledSpotting Trend Reversals with Candlesticks and the Avramis River was especially designed to demonstrate why certain […]

Top American and Chinese negotiators will face off in another round of trade talks on Thursday and Friday. Will the two sides reach a ‘limited’ trade deal, where Beijing buys agricultural US products in exchange for Washington postponing its planned tariff hikes? It’s a close call, but a failure to reach such a deal could […]

Risk sentiment improves slightly on hopes US and China can reach limited trade deal Stocks, aussie and kiwi up, but most majors stuck in sideways ranges Pound under pressure as EU lists objections to Johnson’s Brexit plan Trade talks resume but little chance of breakthrough US and Chinese negotiators resumed trade talks in Washington on […]

GBPUSD has consolidated around 1.2293, which is the 23.6% Fibonacci retracement of the down leg from 1.3381 to 1.1957, as directional momentum has dried up. The pair is trading within a short-term range of 1.2205 – 1.2415, with the price also being squeezed between the 20- and 50-day simple moving averages (SMAs). The short-term oscillators […]

EURGBP crawled above the ascending channel and managed to return above the 50% Fibonacci of the upleg from 0.8470 to 0.9323, providing some optimism that buying interest may stay in the market in coming sessions. The improvement in the MACD and the RSI back this view as well, though positive signals remain weak and fragile […]