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 strengthened as a renewal in concerns over US / China trade talks fuelled safe haven inflow.
  • BOE slashed its growth forecasts on Brexit uncertainty, highlighting risk of a rate cut in the event of a no deal Brexit.
  • Oil fell as industry data highlighted growing stockpiles and surging US crude production.

The times mentioned above are in GMT+2 (MT4 Time).

  1. Monday, Feb 11 – GDP GDP, 1130
  2. Wednesday, Feb 13 – NZD RBNZ Rate Decision, 0300
  3. Wednesday, Feb 13 – USD CPI, 1530
  4. Thursday, Feb 14 – EUR Eurozone GDP, 1200
  5. Friday, Feb 15 – USD U. of Michigan Sentiment, 1700

market sentiment gauge

See how other traders are positioned.

 

EURUSD

Long: 88%
Short: 12%
Change w/w: +30%
Signal: Bullish

 

AUDUSD

Long: 89%
Short: 11%
Change w/w: +14%
Signal: Bullish

 

GBPUSD

Long: 67%
Short: 33%
Change w/w: +27%
Signal: Bullish

 

USDJPY

Long: 38%
Short: 62%
Change w/w: +8%
Signal: Bearish

technical analysis

A look at our most popular trading instruments.

EURUSD
t

EURUSD remains within the 1.1217 – 1.1569 range. However, it has put in a lower high along the bearish trend line running from the late 2018 highs, suggesting continued downside movement. Bears will be looking for a break of the 1.1291 structural low and rising trend line ahead of the key 1.1217 level, signaling a proper continuation of the downtrend.

Support: 1.1291

Resistance: 1.1569

XAUUSD
t

Gold prices turned lower at the 1235.96 resistance level but, for now are still holding above the 1298.29 level. Bulls will be looking to use this as support for a further run higher targeting 1365.53.

Support: 1298.29

Resistance: 1235.96

AUDUSD
t

AUDUSD turned sharply lower last week after challenging the bearish trend line from 2018 highs. Bears will be looking for a break of 0.7021 to continue the bear trend. A break of 0.7390 is needed to confirm a bullish shift.

Support: 0.7021

Resistance: 0.7393

USDJPY
t

USDJPY remains hemmed in against structural resistance at the 109.77 – 110.13. This remains the level to break for any further upside momentum. To the downside, 107.73 is the next key support level ahead of the big lows down around 105.

Support: 105.02 - 104.62

Resistance: 109.77 – 110.13

GBPUSD
t

After breaking out of the falling wedge pattern two weeks ago, GBPUSD has now traded back down to retest the broken resistance trend line, which is holding as support for now. Bulls will need to see price get back above 1.3304 to keep further topside in focus. While below here, a run down to 1.2693 is still a risk.

Support: 1.2693

Resistance: 1.3004

USOIL
t

Oil fell back last week after piercing above the 54.47 resistance. If bulls can use any move down into 50.30 as support, focus will be on an eventual run up to test the next resistance level at 58.03.

Support: 50.30

Resistance: 54.47 / 58.03

 

interesting indices

Using technical indicators to give an in-depth look into indices.

Dow Jones

A resurgence in concerns over the health of US / China trade talks has knocked risk sentiment recently. Price is now retesting the broken bearish trend line from 2018 highs.

RSI: 61.35 Bullish
Stochastic: 76.6151 Bullish
MACD: 333.46 Buy
EMA* (30): 24701.2 Buy
EMA* (100): 24524.9 Buy

* EMA => Exponential Moving Average

click to view charts
dow-jones

Nasdaq

The Nasdaq pulled back a little last week as risk sentiment weakened slightly. While above the broken bearish trend line, focus remains on a test of structural resistance at the 7103.5 level.

RSI: 58.95 Bullish
Stochastic: 70.14 Bullish
MACD: 101.92 Buy
EMA* (30): 6816.2 Buy
EMA* (100): 6743.5 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.