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 traded higher over the week as news of a fresh truce between Trump and Chinese premier Xi gave the currency a boost
  • Equities surged higher last week as fresh trade deal hopes bolstered risk appetite
  • Oil prices dropped sharply despite OPEC announcing an extension to its production cuts and the EIA reporting another drawdown in US crude stores
  1. Wednesday, July 10 – CNY CPI, 0430
  2. Wednesday, July 10 – CAD BOC Rate Decision, 1700
  3. Wednesday, July 10 – USD FOMC Meeting Minutes, 2100
  4. Thursday, July 11 – USD CPI, 1530
  5. Thursday, July 11 – USD Fed Chairman Powell Testifies Before Senate Banking Committee, 1700

The times mentioned above are in Server Time (MT4 Time).

market sentiment gauge

See how other traders are positioned.

 

EURUSD

Long: 85%
Short: 15%
Change w/w: -5%
Signal: Bullish

 

AUDUSD

Long: 54%
Short: 46%
Change w/w: +29%
Signal: Bullish

 

GBPUSD

Long: 89%
Short: 11%
Change w/w: +19%
Signal: Bullish

 

USDJPY

Long: 71%
Short: 29%
Change w/w: 0%
Signal: Bullish

technical analysis

A look at our most popular trading instruments.

EURUSD
t

EURUSD failed to break 1.1420 and has turned lower once again, trading all the way back down to 1.1217 which is holding as support for now.

Support: 1.1217

Resistance: 1.1420

XAUUSD
t

Gold remains capped by the mid 2013 high of 1433.48 though still holding above the broken 2014 high of 1391.61, keeping focus on further upside.

Support: 1391.61

Resistance: 1433.58

AUDUSD
t

AUDUSD has reversed back beneath the .70 level once again though remains above the .6940 level for now, keeping focus on a further grind higher.

Support: .6940

Resistance: .7000

USDJPY
t

USDJPY has broken above the bearish trend line from 2019 highs, though has yet to break above structural resistance at the 108.78 level, which would pave the way for a bigger move higher.

Support: 107.55

Resistance: 108.78

GBPUSD
t

GBPUSD tested the 1.2484 low which has held as support for now, though sentiment remains heavy, keeping focus on further downside.

Support: 1.2484

Resistance: 1.2559

USOIL
t

Oil was capped by the bearish trend line from 2019 at its last advance and has turned back below the 57.85 level for now.

Support: 55.73

Resistance: 60

 

interesting indices

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

Dow Jones

A resurgent USD weighed on equities into the end of last week, though general optimism over fresh trade deal talks between the US and China is keeping risk sentiment buoyant.

RSI: 69.9142 Bullish
Stochastic: 79.6079 Bullish
MACD: 275.21 Buy
EMA* (30): 26371.6 Buy
EMA* (100): 25941.1 Buy

* EMA => Exponential Moving Average

click to view charts
dow-jones

Nasdaq

Expectations for a deal to now be down between the US and China, on the back of Trump and Xi’s recent meeting, is keeping equities supported.

RSI: 68.8203 Bullish
Stochastic: 90.4961 Bullish
MACD: 103.74 Buy
EMA* (30): 7618.1 Buy
EMA* (100): 7428.2 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.