FXPRIMUS Weekly

Get our Analysts’ insights into FX, indices, and commodities

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 out market experts each and every week!

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Market Movers

With a new week comes new market opportunities. Here’s a recap of what you may have missed, as well as some highlights of the week ahead of us:

Catching you up on last week:

• China stimulus rescues markets, propelling risk-on for global indices

• PMI rebound in Europe and the U.S.

• USD looks unstoppable against its counterparts

• TSLA gains almost 50% in 2 days, before falling over talks of a market bubble

This week, keep an eye on:

• Coronavirus still front and centre — with stock markets stretched, what effect could unexpected headlines have, and how will that affect majors like the dollar or yen?

• Whether Russian will accept the 600k cut production proposed by OPEC

• An interest rate decision in New Zealand, amid weak Asian-Pacific currencies

• GDP data in Germany, Europe and the UK

Let’s take a closer look…

Each week, we take a closer look at the markets that move, and those you may have missed!

USDJPY

High-yielding reserve currency against the safe haven. The yen was sold last week, now finding resistance close to a trendline and close to recent highs at 110.25. The risk to the upside 110 – 110.30 and to the downside, watch 109.65 – 109.10 – 108.50

TESLA

TSLA is for the brave: what you see in this chart is 1 week, m30, and between the low and the high there is a 48% difference. Big gaps have been left behind, and the stock is now parabolic on a daily basis. If you are fast and humble, you can trade it, but as always, take caution.

US OIL

1h CL oil: supports at 50.30 – 49.85 – 49.30, this week’s low. The green line at 51.83 is a level that has been rarely pierced at market close during 2019, so we remain below it. If oil can rebound, it will retest the red trendline (beginning 20th January) and the next test will be in the 51.75 – 52 area.

NASDAQ

US indices are unstoppable off the back of the Fed liquidity injection. Don’t fight the trend, but it looks like it has touched the upper bound of the channel from December. We see 9450 to the upside; the channel will be retested @ 9500. To the downside, 9300 then close to 9150 – 9100.

Save The Date(s)

Here are the reports, meetings and other fundamentals to follow this week

February 11th 09:30 UK Gross Domestic Product (YoY) GBP
February 13th 13:30 US Consumer Price Index (YoY) USD
February 14th 10:00 EU Gross Domestic Product (YoY) EUR

 

*All times are in UTC

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