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

Events likely to influence the financial markets.

Coming up this week:

1. Consumer Price Index (EUR)
Tuesday, Jan 7th – 12:00

2. ISM Non-Manufacturing (USD)
Tuesday, Jan 7th – 17:00

3.Trade Balance (AUD)
Thursday, Jan 9th – 02:30

4. Nonfarm Payrolls (USD)
Friday, Jan 10th – 15:30

5. Unemployment Rate (CAD)
Friday, Jan 10th – 15:30

Last week:

• USD was lower amidst holiday trading as markets wait for the first data of 2020

• S&P500 traded into further highs on trade deal optimism and a weak USD

• Oil continued higher as the EIA reported a drop in US crude stores

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

Market Sentiment Gauge

See how other traders are positioned

EURUSD

Long: 69%
Short: 31%
Change w/w: 0%
Signal: Bullish

AUDUSD

Long: 28%
Short: 72%
Change w/w: 0%
Signal: Bearish

GBPUSD

Long: 39%
Short: 61%
Change w/w: 0%
Signal: Bearish

USDJPY

Long: 65%
Short: 35%
Change w/w: 0%
Signal: Bullish

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Technical Analysis

A look at our most popular trading instruments

EURUSD

EURUSD reversed last week though found support at a retest of the broken bearish trend line. For now, the focus is on further upside.

 

Support: 1.1024

 

Resistance:1.1300

XAUUSD

Gold is now close to challenging the 1556.76 2019 highs following the break above the bearish trend line. The near-term bias remains bullish while above 1522.75

Support: 1554.76

 

Resistance: 1609.17

AUDUSD

AUDUSD was capped at a test of the .7027 level last week, though still holding above the .6926 level. While above here, the focus is on further upside.

 

Support: .6926

 

Resistance: .7027

USDJPY

USDJPY reversed from a test of the bearish trend line, taking the price back down to the 107.88 support. If it breaks back below here, 106.75.

Support: 107.88

 

Resistance: 108.84

GBPUSD

GBPUSD continues to fluctuate around the long-term bearish trend line with 1.3014 holding as the support., keeping the focus on further upside.

Support: 1.3014

 

Resistance: 1.3377

USOIL

Oil held a retest of the broken bearish trend line last week which offered support, though upside was capped by the 63.13 level.

 

Support: 60

 

Resistance: 63.13

Interesting Indices

An in-depth look at indices using technical indicators

DOW JONES

Equities were rocked by the outbreak of tensions between the US and Iran which has raised fears over potential military conflict.

 

RSI: 72.9719 Bullish

 

Stochastic: 58.6365 Bullish

 

MACD: 225.79 Bullish

 

EMA*(30): 28211.4 Buy

 

EMA*(100): 27472.3 Buy

 

* EMA => Exponential Moving Average

Nasdaq

Investors are caught between the opposing market forces of support from optimism around US/China trade negotiations and the downside pressure from geopolitical risk factors.

 

RSI: 78.0619 Bullish

 

Stochastic: 62.7209 Bullish

 

MACD: 133.89 Bullish

 

EMA*(30): 8542.5 Buy

 

EMA*(100): 8172.9 Buy

 

* EMA => Exponential Moving Average

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.

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