The euro attempts to grow after the decision of the ECB on Thursday, July 16. On its press conference, the ECB decided to leave the rate at 0% and continued the asset purchase program at 1.35 trillion euros at least until June 2021. Meanwhile, long-term unemployment in the US fell from 18 million to 17.76 […]

Stock markets closed trading with great enthusiasm on Wednesday. Rapid growth was recorded in all major areas, and among the leaders of the upswing was the S&P 500 index, which was able to demonstrate a jump to the maximum level noted at the beginning of the first month of summer. The news about the immediate […]

USDCHF improved recently in an established negative structure and is tackling the 0.9457 level, that being the 61.8% Fibonacci retracement of the up leg from 0.9182 to 0.9900. Further backing the negative picture are the declining simple moving averages (SMAs). However, in spite of the prevailing negative charge within the Ichimoku lines, they reflect a […]

EURJPY has been in an ascending move since June 19 in the short-term, surpassing the 23.6% Fibonacci retracement level of the up leg from 114.40 to 124.45 at 122.08. The short-term bias looks positive as the RSI keeps gaining ground above the 50 level, while the stochastic seems to be making its way up after […]

Technical analysis: GBP has been trading downwards. I expect further downside movement due to potential C leg in creation. Potential test of 1,2480 and 1,2450 in play. Trading recommendation: Watch for potential selling opportunities with targets at 1,2480 and 1,2450 Stochastic is showing fresh bear cross, which is another sign and confirmation for the downside […]

Technical analysis: Gold has been trading downwards. As I expected, the Gold rejected of the top of the trading range at $1,815 and rotate downside. I still see potential for further downside towards the bottom of the range at $1,794. Trading recommendation: Watch for potential selling opporutnities iwith the targets at $1,794 and $1,775. Stochastic […]

Technical analysis: BTC has been trading downwards. As I expected, the market is trading lower and aproaching the key support level at $8,900. I see potential for the bigger drop in case of the downside breakout towards the $7,800 Trading recommendation: Watch for potential selling opporutnities in case of the downside breakout of support at […]

Goldman Sachs believes that over the next 12 months, the Chinese yuan will strengthen significantly against the US currency. China’s economy has almost recovered. Moreover, after the upcoming US presidential election Trump may leave his post. This will allow the Chinese currency to reach 6.70 per US dollar. In December 2019, a new virus was […]

GBP/USD is trading at 1.2528 and it seems determined to pressure the support zone, downside obstacle, on the H4 chart. You can see that the currency pair was traded within an uptrend in the short term, but the price has failed to stay above the uptrend line, it has registered a breakdown signaling that we […]

USD/CHF is trading at the 0.9447 level, it has found a temporary resistance, but the price has suggested a potential larger increase in the short term. Still, you should be careful because the pair is still under pressure and a larger increase needs confirmation. Today’s fundamental events and economic data will bring high volatility on […]

Risk Warning: 75.55% 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 […]

Gold continues to stay above the $1,800 psychological level, but a USD’s potential rally in the short term could force the price to decrease a little. The yellow metal is trading in the red on the H4 chart, but the bias is still bullish, the ECB meeting could bring an aggressive reaction on gold. The […]

Gold continues to stay above the $1,800 psychological level, but a USD’s potential rally in the short term could force the price to decrease a little. The yellow metal is trading in the red on the H4 chart, but the bias is still bullish, the ECB meeting could bring an aggressive reaction on gold. The […]

The latest data on the coronavirus indicates that the United States has recorded a new peak of daily incidence at 71 thousand. Mortality also rose at 1,000 per day, but is still considered moderate compared to its figure in the previous months. This suggests that the lethality of the virus has probably weakened. Nevertheless, at […]

Risk Warning: 75.55% 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 […]

Started in June 2020, XM is sponsoring Sistema Cyprus, a charity project aiming at providing less privileged children and youth, such as orphans and refugees, with free music education through participation in symphonic orchestras and choirs. For a year, XM will cover the operational costs of managing this project, including the cost of hiring teachers, […]

China’s GDP bounces back but signs of uneven recovery dampen sentiment White House’s tough line on China also a drag on risk assets Euro softer ahead of ECB; Stocks eye US earnings and retail sales for direction China returns to growth but weak spending worries markets As far as V-shaped recoveries go, China’s economic recuperation […]

WTI oil futures are clearly demonstrating signals of waning positive sentiment despite an intact positive bearing. The slight flattening in the positively charged Ichimoku lines further backs this view. Noteworthy are the conflicting trajectories in the simple moving averages (SMAs), which may aid and extend consolidation in the commodity in the near-term. Taking a look […]

Good afternoon traders! Here is a trading idea for the USD / JPY pair. The movement towards the level of 106 is considered a part of the wave pattern this month. Daily chart (D1): It is also present on the hourly chart, in which there is now a 50% pullback. Hourly chart (H1): Because of […]

The closing of long positions in the European currency after another attempt to continue the bullish trend was not surprising, since traders were not sure what will be the decisions of the European Central Bank at its upcoming meeting. In addition, the EU summit will also take place, at which leaders will discuss the proposed […]

The single European currency and the pound behaved the same yesterday in many ways. Yes, they grew and then declined during the opening of the American session. The only difference is that for the pound, the scale of movements was somewhat more substantial. And this is due to the fact that if the single European […]

Trading plan: GBP/USD might have carved a meaningful top around 1.2800/15 levels in early June 2020 and has held below since then. The currency pair is seen to be trading around 1.2550 levels at this point in writing and is expected to continue lower below 1.2250 levels, going forward. Immediate resistance is seen towards 1.2815, […]

Yesterday’s absorption of the daily level makes it possible to consider purchases at any of the pair’s decline. Wednesday’s close occurred above the WCZ 1/4 0.9440-0.9433. This makes it possible to choose WCZ 1/2 0.9519-0.9504 as a target for consolidating purchases. Yesterday’s growth led to going beyond the accumulation zone. This makes it possible to […]

Technical outlook: EUR/USD has managed to take out resistance defined around 1.1420 levels. The single currency pair is seen to be trading around 1.1403 levels at this point in writing and could be preparing to drop lower towards 1.1167 levels. Immediate resistance is seen towards the 1.1500 mark, while support is around 1.1250 respectively. Possibility […]

OPEC + is trying to get additional production cuts from countries that once again failed to comply with the plan signed in June. Accordingly, this could reduce the planned increase in deliveries next month by about 2 million barrels per day. Following an online meeting on Tuesday, the committee outlined that countries such as Kazakhstan, […]