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 gained support from a weaker EUR in response to soft eurozone data and dovish comments from ECB chief Draghi.
  • Theresa May’s Brexit deal was turned down in British parliament during a historic defeat for the government.
  • Risk sentiment remained buoyant on the back of US/China trade talks and the promise of more to come.

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

  1. Monday, Jan 21 – GBP UK PM To Submit Alternative Brexit Deal
  2. Tuesday, Jan 22 – EUR Eurozone ZEW Sentiment Survey 1200
  3. Wednesday, Jan 23 – JPY BOJ Rate Decision 0400
  4. Wednesday, Jan 23 – CAD Retail Sales 1530
  5. Thursday, Jan 24 – EUR ECB Rate Decision 1445

market sentiment gauge

See how other traders are positioned.

 

EURUSD

Long: 80%
Short: 20%
Change w/w: +26%
Signal: Bullish

 

AUDUSD

Long: 49%
Short: 51%
Change w/w: -14%
Signal: Bearish

 

GBPUSD

Long: 68%
Short: 31%
Change w/w: +29%
Signal: Bullish

 

USDJPY

Long: 34%
Short: 66%
Change w/w: -37%
Signal: Bearish

technical analysis

A look at our most popular trading instruments.

EURUSD
t

EURUSD stagnation continues as price is now re-entering the bearish channel, following a false break last week. The local bullish channel bottom should provide support, ahead of the structural low at 1.1217. A break of 1.1569 is needed to confirm a bullish shift.

Support: 1.1217

Resistance: 1.1569

XAUUSD
t

Gold prices are now turning lower after completing the ABCD symmetry pattern last week. A retest of the bullish trend line is now first support, while below there and test of price swing highs at 1243.90 offers structural support.

Support: 1243.90

Resistance: 1298.29

AUDUSD
t

AUDUSD saw a quiet week, remaining within the prior week’s range. The bearish trend line from 2018 is just above the market ahead of structural resistance at the .7393 level.

Support: 0.7021

Resistance: 0.7393

USDJPY
t

USDJPY is currently challenging structural resistance at the 109.77 – 110.13 level which is holding for now. Above here, there is a further ledge of structural resistance at the 111.36 – 111.69 level.

Support: 105.02 - 104.62

Resistance: 109.77 – 110.13

GBPUSD
t

After testing the bearish channel top last week, GBPUSD was rejected. Bears will be looking for a fuller reversal this week though there is plenty of event risk which could skew price action.

Support: 1.2479

Resistance: 1.3304

USOIL
t

Oil continues to rise and is quickly approaching first resistance at the 54.49 level which was the swing high before the last leg of the decline late 2018. Above there we have further structural resistance at the 58.03 level.

Support: 42.52

Resistance: 54.49 / 58.03

 

interesting indices

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

Dow Jones

A combination of optimism around the US/China trade talks and diminished Fed rate hike expectations has kept risk sentiment buoyant recently with investors hoping to keep buying equities.

RSI: 58.01 Bullish
Stochastic: 83.50 Bullish
MACD: 7.88 Buy
EMA* (30): 23830 Buy
EMA* (100): 24635.4 Buy

* EMA => Exponential Moving Average

click to view charts
dow-jones

Nasdaq

Equities investors continue their buying spree with economic sentiment remaining strong despite the heavy delays in data flow due to the government shutdown.

RSI: 61.00 Bullish
Stochastic: 79.0767 Bullish
MACD: 39.51 Buy
EMA* (30): 6549 Buy
EMA* (100): 6817.4 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.