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 weakened as FOMC minutes confirmed Fed rate hikes to remain on hold over the near term.
  • Risk markets buoyed by ongoing US / China trade talks as March 1 deadline looks likely to be extended.
  • Oil rose further as OPEC supply cuts overshadowed US stockpile increase.

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

  1. Tuesday, Feb 26 – USD Consumer Confidence, 1700
  2. Wednesday, Feb 27 – USD Trade Balance, 1530
  3. Wednesday, Feb 27 – CAD CPI 1530
  4. Thursday, Feb 28 – USD GDP, 1530
  5. Friday Mar 1 – EUR CPI, 1200

market sentiment gauge

See how other traders are positioned.

 

EURUSD

Long: 52%
Short: 48%
Change w/w: -18%
Signal: Bullish

 

AUDUSD

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

 

GBPUSD

Long: 26%
Short: 74%
Change w/w: -17%
Signal: Bearish

 

USDJPY

Long: 26%
Short: 74%
Change w/w: +1%
Signal: Bearish

technical analysis

A look at our most popular trading instruments.

EURUSD
t

EURUSD remains near the bottom of the 1.1569 – 1.1217 range. 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

After breaking above the 1325.96 level, price reversed sharply to retest the level which is holding as support for now, keeping focus on a move higher targeting 1365.53.

Support: 1325.96

Resistance: 1365.53

AUDUSD
t

AUDUSD remains towards the lower end of the 0.7393 - 0.7021 range after testing the bearish trend line from 2018 a further time. Structural resistance sits above at the 0.7237 level.

Support: 0.7021

Resistance: 0.7237

USDJPY
t

USDJPY is now sitting above the 1.09.77 – 110.13 level, which should provide support as bulls look to challenge the 111.58 – 111.72 structural level next.

Support: 109.77 – 110.13

Resistance: 111.58 – 111.72

GBPUSD
t

After retesting the broken bearish trend line, GBPUSD has since recovered strongly and is now back above 1.3004, which is holding as support. While above here focus is back on an eventual test of 1.3304.

Support: 1.3004

Resistance: 1.3304

USOIL
t

Oil prices continue to recover in a rising wedge formation, suggesting the potential for a reversal lower. 58.03 is the next topside level to look out for, with confluence with the top of the wedge formation.

Support: 54.47

Resistance: 58.03

 

interesting indices

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

Dow Jones

Equity markets remain bid as traders continue to show optimism around the ongoing US / China trade talks.

RSI: 69.50 Bullish
Stochastic: 87.4581 Bullish
MACD: 412.89 Buy
EMA* (30): 25156.4 Buy
EMA* (100): 24883.7 Buy

* EMA => Exponential Moving Average

click to view charts
dow-jones

Nasdaq

A weaker USD is also helping keep equities bid with bulls still looking to break the 7103.5 level resistance in the Nasdaq.

RSI: 61.39 Bullish
Stochastic: 72.2122 Bullish
MACD: 103.24 Buy
EMA* (30): 6873.2 Buy
EMA* (100): 6852.6 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.