FXPRIMUS Weekly

open live account

 
 

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 remained buoyant as a renewal in concerns over US / China trade talks fuelled safe haven inflow, but softened later on trade talk optimism.
  • Weaker than expected UK data weighed on GBP.
  • Oil rose as OPEC cuts start to take hold and Saudi Arabia announced plans for deeper cuts.

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

  1. Tuesday, Feb 19 – EUR Eurozone ZEW Economic Survey, 1200
  2. Wednesday, Feb 20 – USD FOMC meeting minutes, 2100
  3. Thursday, Feb 21 – AUD Unemployment Rate, 0230
  4. Thursday, Feb 21 – EUR ECB Meeting Minutes, 1430
  5. Thursday, Feb 21 – USD Durable Goods, 1430

market sentiment gauge

See how other traders are positioned.

 

EURUSD

Long: 70%
Short: 30%
Change w/w: -18%
Signal: Bullish

 

AUDUSD

Long: 46%
Short: 54%
Change w/w: -44%
Signal: Bearish

 

GBPUSD

Long: 43%
Short: 57%
Change w/w: -34%
Signal: Bearish

 

USDJPY

Long: 27%
Short: 73%
Change w/w: -11%
Signal: Bearish

technical analysis

A look at our most popular trading instruments.

EURUSD
t

EURUSD continues to move towards the bottom of the 1.1569 – 1.1217 range, after turning lower from a further test of the bearish trend line running from 2018 highs. If price breaks back below the 1.1217 level this will signal a continuation of the bearish trend, putting focus on a test of the channel low next.

Support: 1.1217

Resistance: 1.1569

XAUUSD
t

Gold prices failed to break down below the 1298.29 level keeping focus on further upside. Bulls will be looking for a break of initial resistance at the 1325.96 level for a move higher targeting 1365.53.

Support: 1298.29

Resistance: 1235.96

AUDUSD
t

AUDUSD remains towards the lower end of the 0.7393 - 0.7021 range which has framed price action over the last nine months. The bearish trend line from 2018 highs comes in ahead of interim structural resistance at the 0.7237 level.

Support: 0.7021

Resistance: 0.7237

USDJPY
t

USDJPY finally broke above the 109 – 110 resistance level last week, while above here, focus is on a test of the next structural zone around the 111.58 – 111.72 level.

Support: 109.77 – 110.13

Resistance: 111.58 – 111.72

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 has now broken above the 54.47 level putting focus on a test of next resistance at the 58.03 level, with a retest of the broken rising trend line from 2016 lows coming in above.

Support: 54.47

Resistance: 58.03

 

interesting indices

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

Dow Jones

Optimism around US / China trade talks keeps risk sentiment buoyant as both sides prepare for further talks this week.

RSI: 63.13 Bullish
Stochastic: 7.3135 Bullish
MACD: 338.56 Buy
EMA* (30): 24404.4 Buy
EMA* (100): 24998.8 Buy

* EMA => Exponential Moving Average

click to view charts
dow-jones

Nasdaq

Despite the surge in risk sentiment linked to ongoing US / China trade talks, Nasdaq has yet to break above the 7103.5 resistance.

RSI: 62.66 Bullish
Stochastic: 75.7977 Bullish
MACD: 107.75 Buy
EMA* (30): 6786 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.