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 recovered initial losses following a stronger than expected GDP print.
  • Risk markets remained buoyant as optimism regarding US / China trade talks fuel demand.
  • Oil markets remained supported as the EIA reported an unexpected drawdown in US crude stockpiles.

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

  1. Tuesday, March 5 – AUD RBA Cash Rate, 0230
  2. Tuesday, March 5 – USD ISM Non-Manufacturing, 1700
  3. Wednesday, March 6 – CAD BOC Rate Decision 1700
  4. Thursday, March 7 - EUR ECB Rate Decision, 1530
  5. Friday Mar 8 – USD Non-farm payrolls, 1530

market sentiment gauge

See how other traders are positioned.

 

EURUSD

Long: 51%
Short: 49%
Change w/w: -1%
Signal: Bullish

 

AUDUSD

Long: 81%
Short: 19%
Change w/w: +43%
Signal: Bullish

 

GBPUSD

Long: 28%
Short: 72%
Change w/w: +2%
Signal: Bearish

 

USDJPY

Long: 5%
Short: 95%
Change w/w: -21%
Signal: Bearish

technical analysis

A look at our most popular trading instruments.

EURUSD
t

EURUSD remains stagnant in 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

The collapse in gold last week has seen price trading back down to test the rising trendline from 2015 lows. Below here the 1243.90 level is the next support to watch.

Support: 1243.90

Resistance: 1298.29

AUDUSD
t

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

Support: 0.7021

Resistance: 0.7237

USDJPY
t

USDJPY has now broken above the 111.72 level, which should now provide support, and is fast approaching the next structural level at 112.22 – 112.50.

Support: 109.77 – 110.13

Resistance: 111.58 – 111.72

GBPUSD
t

After breaking above the 1.3304 level, GBPUSD has subsequently fallen back below the level. Any retracement lower should find support at the 1.3004 level, while 1.3304 is the initial resistance.

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 remined supported this week as firmer risk appetite trumped a resurgent US Dollar.

RSI: 66.59 Bullish
Stochastic: 57.6865 Bullish
MACD: 403.6 Buy
EMA* (30): 25401.4 Buy
EMA* (100): 24970.7 Buy

* EMA => Exponential Moving Average

click to view charts
dow-jones

Nasdaq

Optimism around US/China talks have kept equity markets bid despite a stronger US Dollar.

RSI: 60.55 Bullish
Stochastic: 83.4998 Bullish
MACD: 8.38 Buy
EMA* (30): 71007.2 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.