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 remained under pressure with CPI posting its first headline fall in nine months.
  • Fed’s Powell reiterated his message that the Fed will be patient with further rate hikes.
  • Risk sentiment was boosted as second round of trade talks got under way between US & Chinese officials.

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

  1. Wednesday, Jan 16th – GBP CPI, 1130
  2. Wednesday, Jan 16th - USD Retail Sales Advance, 1530
  3. Thursday, Jan 17th – JPY CPI, 0130
  4. Friday, Jan 18th – CAD CPI, 1530
  5. Friday, Jan 18th – USD U. of Michigan Sentiment Survey, 1700

market sentiment gauge

See how other traders are positioned.

 

EURUSD

Long: 54%
Short: 46%
Change w/w: -2%
Signal: Bullish

 

AUDUSD

Long: 37%
Short: 63%
Change w/w: -2%
Signal: Bearish

 

GBPUSD

Long: 39%
Short: 61%
Change w/w: 0%
Signal: Bearish

 

USDJPY

Long: 71%
Short: 29%
Change w/w: -10%
Signal: Bullish

technical analysis

A look at our most popular trading instruments.

EURUSD
t

EURUSD broke out above the bearish channel last week and pierced above the 1.1486 resistance, before reversing and closing below the level. While above the bearish channel, focus remains on further upside with a break of last week’s high needed to bolster bullish momentum.

Support: 1.1211

Resistance: 1.1569

XAUUSD
t

Gold prices stalled after completing the ABCD symmetry pattern last week. Price is sitting just under resistance at the 1309.46 level. Focus remains on further upside while above the trend line.

Support: 1266.89

Resistance: 1309.46

AUDUSD
t

After a false break of the 2018 lows, AUDUSD has since turned sharply higher again and is now fast approaching bearish trend line resistance from the 2018 highs. If price breaks above the trend line, a break of the 0.7393 structural high should see momentum players join the market.

Support: 0.7021

Resistance: 0.7393

USDJPY
t

Following the recent volatility we’ve seen, USDJPY remained in consolidation mode last week. Still preferring to stick to broader levels for now. The sharp bounce off the recent low puts a retest of the 109.77 – 110.13 level in focus.

Support: 105.02 - 104.62

Resistance: 109.77 – 110.13

GBPUSD
t

GBPUSD remains within a bearish channel though currently turning higher from a bullish pin bar formed at a retest of the 2018 low. Focus remains on further downside until the channel high is broken, bringing the Q3 2018 high into focus.

Price is now en-route to retest broken prior support at the 54.49 level.

Support: 1.2479

Resistance: 1.3304

USOIL
t

Oil tested the completion of the large ABCD pattern at the 42.25 level which has seen buyers stepping back in.

Support: 42.25

Resistance: 54.49

 

interesting indices

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

Dow Jones

Dovish comments from Fed’s Powell along with optimism over on going US / China trade talks is keeping US equities supported.

RSI: 52.94 Bullish
Stochastic: 92.61 Bullish
MACD: -222.24 Sell
EMA* (30): 23833.2 Buy
EMA* (100): 24633 Sell

* EMA => Exponential Moving Average

click to view charts
dow-jones

Nasdaq

Nasdaq remains on a firm footing as dovish Fed comments keep risk sentiment supported.

RSI: 54.35 Bullish
Stochastic: 93.6742 Bullish
MACD: -29.38 Sell
EMA* (30): 6518.1 Buy
EMA* (100): 6834.1 Sell

* 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.