WTI crude oil futures are recovering somewhat after the sharp collapse to a multi-year low of 6.62 on Tuesday. The renewed selling interest broke the 19.32 strong barrier (resistance now – support before) to the downside, opening the way for steeper declines. However, currently, the momentum indicators are suggesting a possible upside pullback in the […]

The US agenda is featuring initial jobless claims (12:30 GMT) and preliminary Markit PMI figures (13:45 GMT) on Thursday followed by durable goods (12:30 GMT) on Friday. Expectations, though, are for a neutral reaction in the US dollar.  Despite the shocking expansion of Covid-19 in the US, the greenback continued to overperform against a basket of major currencies year-to-date, […]

The e-commerce giant Amazon.com Inc will publish earnings results for the March quarter on April 30 after the market’s close. Despite the global health crisis, the virus situation bodes well for Jeff Bezos’ successful company and although forecasts suggest a mixed earnings report, traders may not easily give up their long exposure in the stock, with […]

USDJPY appears to have lost directional momentum bound between the 109.37 and 106.91 marks. The pair is presently consolidating around the 107.68 level, that being the 38.2% Fibonacci retracement of the up leg from 101.17 to 111.71. Confirming the flattened tone in price is the horizontal 100- and 200-day simple moving averages (SMAs) as well […]

Amazon stock price reversed to the downside after the aggressive bullish action to the all-time high of 2,458. The RSI indicator is turning lower from the overbought zone, while the stochastic oscillator fell from the 80 level following the bearish crossover within the %K and %D lines. However, the MACD is still extending its bullish […]

Amazon stock price reversed to the downside after the aggressive bullish action to the all-time high of 2,458. The RSI indicator is turning lower from the overbought zone, while the stochastic oscillator fell from the 80 level following the bearish crossover within the %K and %D lines. However, the MACD is still extending its bullish […]

USDCHF has been mainly flat for the last two weeks confined within the 0.9742 and 0.9590 boundaries. Confirming the mostly directionless market are the 50- and 100-period simple moving averages’ (SMAs) uncertain signals and the sideways demeanour of the 200-period SMA. The short-term oscillators, although tilting marginally negative, suggest that directional momentum has dried up. […]

USDCHF has been mainly flat for the last two weeks confined within the 0.9742 and 0.9590 boundaries. Confirming the mostly directionless market are the 50- and 100-period simple moving averages’ (SMAs) uncertain signals and the sideways demeanour of the 200-period SMA. The short-term oscillators, although tilting marginally negative, suggest that directional momentum has dried up. […]

GBPJPY is heading slightly higher after the drop to the 131.87 support level. However, the decline in the simple moving averages (SMAs) and the Ichimoku indicators suggest the continuation of the descending movement in the short-term timeframe. Moreover, the MACD oscillator is heading south in the negative zone, though, the RSI is sloping slightly above […]

Oil price collapse continues, sending shivers through stock markets Trump signals bailouts for US producers, but paradoxically, that could worsen oil’s plunge Dollar pares gains after Trump’s bailout talk, pound softens on Brexit comments Euro in focus as investors flee Italian bonds before tomorrow’s EU summit Trump hints at bailouts as oil crumbles Energy markets […]

Oil price collapse continues, sending shivers through stock markets Trump signals bailouts for US producers, but paradoxically, that could worsen oil’s plunge Dollar pares gains after Trump’s bailout talk, pound softens on Brexit comments Euro in focus as investors flee Italian bonds before tomorrow’s EU summit Trump hints at bailouts as oil crumbles Energy markets […]

NZDUSD has turned flat around the 0.5961 level, that being the 38.2% Fibonacci retracement of the down leg from 0.6754 to 0.5468. This comes after the pair’s recent lunge up from 0.5843, which hit a snag at the 50.0% Fibo of 0.6113 and the capping 50-day simple moving average (SMA). Looking at the short-term oscillators, […]

EURGBP rose on Tuesday’s session to rest near the 50.0% Fibonacci retracement level of the up leg from 0.8275 to 0.9500 at 0.8890, which coincides with the 40-day simple moving average (SMA). Currently, the pair is trying to recoup some of last month’s losses but the bearish crossover within the 20- and 40-day SMAs seems […]

EURCHF today slipped marginally lower towards a new 56-month bottom of 1.0504. The price appears to be tiptoeing sideways within a tight area from 1.0527 – 1.0504. Maintaining a neutral tone – also reflected by the squeezed Bollinger bands – the pair is currently situated at the upper Bollinger band. Looking at the short-term oscillators, […]

With the number of new daily cases of coronavirus in Britain now rising faster than in other European countries, dashing hopes of an early exit from lockdown, flash PMI and retail sales releases will draw interest this week. The Purchasing Managers’ Index (PMI) by IHS Markit/CIPS is due on Thursday at 8:30 GMT and retail […]

The Eurozone’s preliminary PMIs for April will be released on Thursday at 08:00 GMT, and the numbers could be scary. However, investors don’t pay much attention to economic data nowadays, so the euro might be driven by risk sentiment and politics instead. The meeting of EU leaders – also on Thursday – is an asymmetric […]

USDJPY has been consolidating since March 27 and has been stuck in a channel tilting slightly to the downside. The neutral to bearish picture in the short-term looks to last for a while longer after price slipped below the simple moving averages (SMAs) earlier this month. Resistance was met at around the 109.20 region, forcing […]

Gold appears to be breaching the 1,678 level, that being the 23.6% Fibonacci retracement of the up leg from 1,455.17 to 1,746.95, and the 1,672 inside swing high, following a pullback off the 88-month peak of 1,746.95. The short-term oscillators confirm the recent deterioration in the price. The MACD, deep in the positive region, has […]

Netflix stock price had been in an aggressive bullish rally in the previous periods, challenging a fresh all-time peak at 449.32 on April 16. The RSI and the MACD are confirming this strong upside tendency as both are gaining momentum in positive territories. However, the stochastic is suggesting an overbought market, as it has turned […]

Netflix stock price had been in an aggressive bullish rally in the previous periods, challenging a fresh all-time peak at 449.32 on April 16. The RSI and the MACD are confirming this strong upside tendency as both are gaining momentum in positive territories. However, the stochastic is suggesting an overbought market, as it has turned […]

Since the outbreak of the coronavirus pandemic, XM has thrown its weight behind alleviating the immense pressure that the novel coronavirus pandemic is putting on human lives. In an attempt to contribute to the relief efforts of communities in dire straits, on 15th April XM made a donation to the Covid-19 Emergency Support Fund of […]

Since the outbreak of the coronavirus pandemic, XM has thrown its weight behind alleviating the immense pressure that the novel coronavirus pandemic is putting on human lives. In an attempt to contribute to the relief efforts of communities in dire straits, on 15th April XM made a donation to the Covid-19 Emergency Support Fund of […]

WTI oil price goes negative as physical storage space runs out Loonie and other oil-sensitive currencies retreat But little impact in other assets – mild risk aversion only Yen and dollar gain on defensive flows, stocks turn red, kiwi drops Oil price turns negative as energy market craters For the first time ever, the price […]

GBPUSD has been underperforming in the past few sessions, breaking back below the 61.8% Fibonacci retracement level of the down leg from 1.3200 to 1.1410 at 1.2523. When looking at the bigger picture on the daily timeframe, the pair is trendless as the latest rebound from the 35-year low surpassed 1.2170. In technical indicators, the RSI has reversed south to […]

EURJPY sellers have returned the price to the 116.35 low after managing to capitalise on the fact the pair was unable to close above the 118.59 level – that being the 23.6% Fibonacci retracement of the down leg from 127.49 to 115.86 – and the mid-Bollinger band. The short-term oscillators also reflect the recent deterioration […]