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:

  • USD was higher over the week, despite the upside in equities, as better US data boosted the sentiment
  • The S&P 500 traded into fresh highs as the US/China trade deal rally continued
  • President Trump was impeached and will now face a trial in Senate to determine whether he should vacate the Presidency
  • UK Parliament voted for Johnson’s Brexit plan
  1. GDP M/M (CAD)
    Monday, December 23rd - 15:30 (GMT+2)
  2. Durable goods & Core Durable Goods (USD)
    Monday, December 23rd - 15:30 (GMT+2)
  3. Crude oil Inventories (CRUDE)
    Friday, December 27th - 18:00 (GMT+2)

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

market sentiment gauge

See how other traders are positioned.

 

EURUSD

Long: 58%
Short: 42%
Change w/w: +31%
Signal: Bullish

 

AUDUSD

Long: 36%
Short: 64%
Change w/w: 0%
Signal: Bearish

 

GBPUSD

Long: 53%
Short: 47%
Change w/w: +31%
Signal: Bullish

 

USDJPY

Long: 9%
Short: 91%
Change w/w: -2%
Signal: Bearish

technical analysis

A look at our most popular trading instruments.

EURUSD
t

EURUSD reversed hard last week from a test of the bearish trend line and 1.1166 resistance. Focus is now on 1.1024 and whether it holds as support.

Support: 1.1024

Resistance: 1.1166

XAUUSD
t

Gold prices continued to hug the top of the bearish channel, though are still capped by the 1481.93 resistance. Ultimately, the structure could still prove to be a bull flag, leading to an eventual break higher.

Support: 1436.19

Resistance: 1481.93

AUDUSD
t

AUDUSD was able to find buyers at a retest of the .6850 support, turning price back above the bearish trend line. While above here focus is on a further test of the .6926 resistance.

Support: .6850

Resistance: .6926

USDJPY
t

USDJPY was capped at a test of the bearish trend line last week, though is holding above the 108.84 level for now. While above here the focus is on a further grind higher.

Support: 108.84

Resistance: 110.58

GBPUSD
t

GBPUSD sold off heavily following the rejection at 1.3377 taking price back down beneath the bearish trend line to test support. Below here, 1.2689 is the next area to watch.

Support: 1.3014

Resistance: 1.3377

USOIL
t

Oil was capped at a test of the bearish trend line from year to date highs last week. However, while above the 60 level, focus is on further upside.

Support: 57

Resistance: 60

 

interesting indices

An in-depth look at indices using technical indicators

Dow Jones

Equities surged higher again last week as continued optimism following confirmation of the US/China trade deal continues to drive markets higher.

RSI: 66.5657 Bullish
Stochastic: 83.7379 Bullish
MACD: 197.89 Bullish
EMA* (30): 27926.4 Buy
EMA* (100): 27274.7 Buy

* EMA => Exponential Moving Average

click to view charts
dow-jones

Nasdaq

Despite a firmer USD, equities continued higher last week. News of Trump’s impeachment also holds upside risks for equities. If Trump ends up having to vacate the Presidency it is expected that any incoming President will end the trade war with China.

RSI: 74.3950 Bullish
Stochastic: 81.3479 Bullish
MACD: 108.27 Bullish
EMA* (30): 8385.9 Buy
EMA* (100): 8070.9 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.