FXPRIMUS Weekly

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FXPRIMUS Weekly is your comprehensive technical and fundamental trading guide for the coming week! Access the latest news and in-depth technical indicator data, delivered by our market experts each and every week!

 

Market Movers

Events likely to influence the financial markets.

Last Week:

  • Equities saw increased volatility over US/China trade deal uncertainty
  • Oil prices were higher on news that OPEC will increase production cuts to 1.7 million bpd from the current 1.2 million bpd
  1. GDP (GBP)
    Tuesday, Dec 10th – 11:30
  2. CPI (USD)
    Wednesday, Dec 11th – 13:30
  3. FOMC (NZD)
    Wednesday, Dec 11th – 21:00
  4. SNB Rate Decision (CHF)
    Thursday, Dec 12th
  5. ECB Rate Decision (EUR)
    Thursday, Dec 12th – 13:30

The times mentioned above are in Server Time (MT4 Time).

market sentiment gauge

See how other traders are positioned.

 

EURUSD

Long: 82%
Short: 18%
Change w/w: +9%
Signal: Bullish

 

AUDUSD

Long: 38%
Short: 62%
Change w/w: -51%
Signal: Bullish

 

GBPUSD

Long: 11%
Short: 89%
Change w/w: -10%
Signal: Bearish

 

USDJPY

Long: 64%
Short: 36%
Change w/w: +58%
Signal: Bullish

technical analysis

A look at our most popular trading instruments.

EURUSD
t

EURUSD traded higher over the week, continuing the recovery above the 1.1024 level, approaching the bearish trend line from the mid-2018 highs.

Support: 1.1024

Resistance: 1.1166

XAUUSD
t

Gold prices retested the 1481.93 level this week, which continues to hold as resistance within the bearish channel.

Support: 1436.19

Resistance: 1481.93

AUDUSD
t

AUDUSD remains capped by the .6850 level for now, though looks susceptible to a move higher.

Support: .6716

Resistance: .6850

USDJPY
t

USDJPY reversed lower last week, just ahead of testing the longer-term bearish trend line. Price is back below the 108.84 level for now, though focus remains on a further push up.

Support: 106.75

Resistance: 110.58

GBPUSD
t

GBPUSD broke out last week, trading above the 1.3033 level. While above here, the focus is on a test of the 1.3297 next.

Support: 1.3033

Resistance: 1.3297

USOIL
t

Oil prices found strong support at the retest of the 55 level and have pushed back up, approaching the 60 level. With the bearish trend line from 2019 highs coming in just above, this will be a key resistance zone to watch.

Support: 55

Resistance: 60

 

interesting indices

An in-depth look at indices using technical indicators

Dow Jones

Equities have been a little weaker in recent trading as the market awaits clarity on US/China trade negotiations. For now, however, optimism is keeping sentiment supported.

RSI: 50.1530 Bullish
Stochastic: 32.1634 Bearish
MACD: 121.05 Bullish
EMA* (30): 27645.8 Buy
EMA* (100): 27096.4 Buy

* EMA => Exponential Moving Average

click to view charts
dow-jones

Nasdaq

The FOMC minutes confirmed that the Fed is looking to remain on hold in the near term though concern over the risks to the US economy mean that further easing is not yet ruled out.

RSI: 55.5213 Bullish
Stochastic: 41.6663 Bearish
MACD: 60.77 Bullish
EMA* (30): 8239.8 Buy
EMA* (100): 7969.4 Buy

* EMA => Exponential Moving Average

click to view charts
nasdaq

Any opinions, news, research, analyses, prices or other information contained here are provided as general market commentary and do not constitute investment advice. FXPRIMUS does not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.