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:

  • Reports that President Trump is to end the government shutdown led to a sell-off in USD.
  • Draghi highlighted growing downside risks to the eurozone at the January ECB meeting.
  • Risk sentiment weaker on rising geo-political tensions, as Trump threatens further sanctions and possible military action on Venezuela.

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

  1. Tuesday, Jan 29th – USD Trade Balance, 1530
  2. Tuesday, Jan 29th – USD Consumer Confidence, 1700
  3. Wednesday, Jan 30th – AUD CPI, 0230
  4. Wednesday, Jan 30th USD FOMC Rate Decision, 2100
  5. Friday Feb 1st, USD Non-Farm Payrolls, 1530

market sentiment gauge

See how other traders are positioned.

 

EURUSD

Long: 20%
Short: 80%
Change w/w: -10%
Signal: Bearish

 

AUDUSD

Long: 37%
Short: 63%
Change w/w: -12%
Signal: Bearish

 

GBPUSD

Long: 14%
Short: 86%
Change w/w: -14%
Signal: Bearish

 

USDJPY

Long: 59%
Short: 41%
Change w/w: 11%
Signal: Bullish

technical analysis

A look at our most popular trading instruments.

EURUSD
t

EURUSD retested the broken bearish channel top (along with the local bullish channel low) and found support. Price action reflects a lack of conviction among traders with a break of 1.1569 still needed to confirm a bullish shift.

Support: 1.1217

Resistance: 1.1569

XAUUSD
t

Gold prices are now challenging initial resistance at the 1298.29 level. If price holds above here, the next resistance is the 1235.96 swing high. Bearish RSI divergence flags the risk of a false break higher here.

Support: 1243.90

Resistance: 1298.29 / 1235.96

AUDUSD
t

AUDUSD remains hemmed in below initial structural resistance at the 0.7237 level, with the bearish channel top in the vicinity also. A break of 0.7390 is needed to confirm a bullish shift.

Support: 0.7021

Resistance: 0.7237 / 0.7393

USDJPY
t

USDJPY is currently challenging structural resistance at the 109.77 – 110.13 level which is holding for now with current price action suggesting a reversal lower in the near term.

Support: 105.02 - 104.62

Resistance: 109.77 – 110.13

GBPUSD
t

GBPUSD has now firmly broken out of the falling wedge pattern that has been framing price action over recent months. A break of 1.3304 will be needed to confirm a larger bullish reversal while bulls will be looking for any retest of the 1.2909 level to hold as support.

Support: 1.2909

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 in late 2018. Oil has now also completed a symmetry swing with the last leg higher before the decline in late 2018.

Support: 42.52

Resistance: 54.49 / 58.03

 

interesting indices

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

Dow Jones

Equities investors continue to show strong demand ahead of the FOMC meeting this week, which is expected to see the Fed keeping rates on hold with a more cautious tone.

RSI: 57.56 Bullish
Stochastic: 68.33 Bullish
MACD: 202.74 Buy
EMA* (30): 24094.2 Buy
EMA* (100): 24137 Buy

* EMA => Exponential Moving Average

click to view charts
dow-jones

Nasdaq

Equity investors were buoyed this week by reports that the US government shutdown is set to end with Trump retracting his demand for 5.7 billion dollars to fund his wall.

RSI: 59.26 Bullish
Stochastic: 44.17 Bullish
MACD: 55.70 Buy
EMA* (30): 6605 Buy
EMA* (100): 6804.6 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.