Technical analysis: Gold has been trading upside this morning and I see potential for further rally due to the breakout of well defined downside channel. Trading recommendation: Due to the breakout of the overnight downside channel, I see potential for the rally today towards upper references. Watch for potential buying opportunities on the intraday dips […]

Technical outlook: Gold is drifting within the range between $1,840 and $1,846-48 since the last few trading sessions. The yellow metal is still holding above the $1838 interim low, which keeps the immediate bullish structure intact. A slip below $1838 will test the $1,828 mark before resuming its rally to $1,920. Gold carved an upswing […]

GBPCAD is struggling to lift over the mid-Bollinger band at 1.5990 and the fresh highs of 1.6029 after unearthing footing within a key support base, which was shaped by the October 2016 and the January 2017 significant troughs. The falling simple moving averages are still endorsing the negative bearing in the pair. The short-term oscillators […]

Risk sentiment is wavering as investors are constantly evaluating the likelihood of a recession. The flash PMIs for May might help guide those expectations in the coming week. In the US, there will be plenty of additional drivers for the dollar, such as the FOMC minutes and the PCE inflation readings. Markets remain fixated on […]

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Dollar index ticks down as euro approaches $1.06 On Friday, the US dollar was on track to have its worst week against key rivals since the beginning of February. Global stocks have been falling this week as well due to risks to growth from aggressive monetary tightening – led by the Federal Reserve – and China’s strict lockdowns to quash […]

XM continues its tireless efforts to make a difference to the life of those in desperate need. In the aftermath of the pandemic, individuals and communities on the fringe of society need support more than ever. This March, XM staff members who set their heart on giving a helping hand where needed, joined forces with […]

USDCHF is trading between the 0.9700 hurdle and the 0.9713 barrier, which is the 38.2% Fibonacci retracement level of the up leg from 0.9194 until 1.0064. Despite the aggressive selloff in the pair from the beginning of this week, the hiking simple moving averages (SMAs) are still championing the one-and-a-half-month rally that spiked beyond the […]

Some calm returns to markets, China rate cut helps Stocks bounce back but risk of more volatility from large options expiry today Dollar recovers but still headed for weekly losses, Swiss franc emboldened by SNB China rate cut soothes investor nerves Markets were a lot calmer on Friday after a bumpy week that put the […]

GBPJPY is confronting the 159.69 barrier, which is the 50.0% Fibonacci retracement level of the uptrend from 150.96 until the multi-year high of 168.42, which failed to close north of the 166.07-168.55 resistance zone that extends back to February 2016. The climbing simple moving averages (SMAs) are endorsing the broader bullish structure but it’s worth […]

USDCAD has come under renewed selling pressure, falling back below its 20-day simple moving average (SMA), but remaining slightly above the 1.2790 support level. Despite the latest pullback though, the pair has not posted a fresh lower low, which makes one hesitant to trust further declines for now. Looking at momentum oscillators on the daily […]

USDJPY slid below the 200-period simple moving average (SMA) on the four-hour chart for the first time in two months, printing a new lower low at 127.00. That is marginally above the April 27 trough. Therefore, oversold signals are now attracting special attention as the price has closed below the lower Bollinger band. In momentum […]

Early in the American session, the GBP/USD pair reached the resistance level of 1.2498. Since then, it is pulling back and is now testing the support 3/8 Murray at around 1.2451. Supported by the selling pressure around the US dollar, GBP/USD has extended its weekly rally and reached the psychological level of 1.2500 for the […]

XRP/USD is trading in the red at 0.4113 at the time of writing. The altcoin found strong resistance and now it drops as the price of Bitcoin slips lower as well. Today, it has dropped by 6.95% from 0.4400 daily high to today’s low of 0.4094. In the last 24 hours, XRP/USD is down by […]

EUR/USD registered highs for the day at 1.0598 after finding support twice in the area of 1.0554. In the American session, the Euro is trading below the 21 SMA with a bearish bias and above the 200 EMA located at 1.0512. Selling pressure around the US dollar (USDX) supported the strong rally in the EUR/USD […]

In contrast to the fact that spring is ready to give way to summer throughout the Northern Hemisphere, another winter is coming to the cryptocurrency market. The previous one lasted a very long time, from 2018 to mid-2020, when Bitcoin fell, then traded in consolidation. The scale of those collapses was even greater than at […]

The price of Gold drops like a rock in the short term as the USD tries to appreciate again after its massive drop. The yellow metal was traded at the 1,838 level at the time of writing. After its amazing rally, a temporary decline is natural. In the short term, XAU/USD rallied only because the […]

USD/JPY Minor Growth! The USD/JPY pair increased a little in the short term after reaching the 127.14 level. Now, it’s trading at the 128.13 level. As long as it stays under the downtrend line, it could drop deeper anytime again. Technically, the downtrend line stands as an upside obstacle. 127.14 previous low is seen as […]

Hi, dear traders! According to the H1 chart, GBP/USD settled above the retracement level of 423.6% (1.2432) on Thursday. While the pair failed to extend its upside movement on Friday, it still remains above the 423.6% level. The ascending trend channel indicates traders are currently bullish. If GBP/USD settles below the trend channel, it could […]

XAU/USD remains firm at the beginning of the American session and trades are approaching the area of 1,845. This week, gold had made a strong recovery and could close the first bullish week after four previous negative weeks. XAU/USD is being supported by increasing positive stock market sentiment reflected in major Wall Street indices, and […]

Overview : The EUR/USD pair faced resistance at the level of 1.0642, while minor resistance is seen at 1.0578. Support is found at the levels of 1.0530 and 1.0495. Yesterday, the EUR/USD pair continued to move upwards from the level of 1.0495. The pair rose from the level of 1.0495 to the top around 1.0590. […]

European stocks declined yesterday. The European indicator StoxxEurope 600 fell by 1.37%. British FTSE 100 index lost 1.82%, French CAC 40 declined a little less by 1.26%. German DAX and Spanish IBEX 35 fell by about the same amount of 0.9% and 0.83% respectively. Italian FTSE MIB, which lost only 0.09%, lost less of all. […]

Technical outlook: Silver has raised through the $22.10 mark on the intraday chart on Friday before pulling back. The metal is seen to be trading around $21.80 at this point of writing and might have found intraday support. Bulls might be preparing to hold the price above the $21.50 mark and attempt another rally towards […]

Technical outlook: Silver has raised through the $22.10 mark on the intraday chart on Friday before pulling back. The metal is seen to be trading around $21.80 at this point of writing and might have found intraday support. Bulls might be preparing to hold the price above the $21.50 mark and attempt another rally towards […]

Gold (XAU/USD) is under bearish pressure below the 21 SMA. After hitting 1,966 last week, it continues its downtrend and could drop towards the 200 EMA at 1,920. Since March 16, gold has been trading within an uptrend channel. In the European session, XAU/USD reached 1,924, right at the bottom of the uptrend channel, and […]