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. BOJ Outlook Report (JPY)
Tuesday, Jan 21st – tentative

2. BOC Rate Statement & Monetary Policy Report (CAD)
Wednesday, Jan 22nd – 17:00

3. ECB Rates & Monetary Policy (EUR)
Thursday, Jan 22nd – 14:45

4. ECB Press Conference (EUR)
Thursday, Jan 22nd – 15:30

5. Fr Services & Manufacturing PMI (EUR)
Friday, Jan 24th – 10:15

6. DE Services & Manufacturing PMI (EUR)
Friday, Jan 24th – 10:30

7. Services & Manufacturing PMI (GBP)
Friday, Jan 24th – 11:30

Last week:

• INDICES from US, EU or Asia Pacific, were trading at all time highs or close to them.

• The GBP has been performing well against EUR & USD despite the weak data in the UK

• The safe haven, JPY, has been performing weaker than usual over the last couple of weeks

• Gold and Crude Oil were fairly stable with not much volatility seen.

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

Market Sentiment Gauge

See how other traders are positioned

EURUSD

Long: 74%
Short: 26%
Change w/w: 0%
Signal: Bullish

AUDUSD

Long: 62%
Short: 38%
Change w/w: 0%
Signal: Bullish

GBPUSD

Long: 43%
Short: 57%
Change w/w: 0%
Signal: Bearish

USDJPY

Long: 10%
Short: 90%
Change w/w: 0%
Signal: Bearish

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Technical Analysis

A look at our most popular trading instruments

EURUSD

EURUSD continues to trade lower following the reversal from above 1.1166. The last decline has taken price below the bullish channel, putting the focus on 1.0996 last.

 

Support: 1.1024

 

Resistance: 1.1166

XAUUSD

Gold was capped last week by the 1609.17 level resistance. While above the 1556.75 level, focus is on further upside.

 

 

Support: 1522.75

 

Resistance: 1609.17

AUDUSD

AUDUSD found support at the .6850 level last week, keeping price above the broken bearish trend line. While above here focus is on further upside.

 

 

Support: .6850

 

Resistance: .6926

USDJPY

USDJPY rallied last week though was capped by the bearish trend line and 109.71 resistance level. Near term bias remains bullish, looking for 110.58 next.

 

 

Support: 108.84

 

Resistance: 110.58

GBPUSD

GBPUSD is still holding above the 1.3014 level for now, following the rejection at 1.3014, if we move below here, focus will be on the 1.2781 level next.

 

Support: 1.3014

 

Resistance: 1.3377

USOIL

Oil sold off further last week, trading back below the 60 level and the broken bearish trend line. While these provide resistance, focus is on a test of 57 next.

 

Support: 57

 

Resistance: 60

Interesting Indices

An in-depth look at indices using technical indicators

DOW JONES

Equities traded into fresh highs last week as the US/China trade deal was signed, giving global risk appetite a firm boost.

 

RSI: 91.7079 Bullish

 

Stochastic: 71.3468 Bullish

 

MACD: 235.41 Bullish

 

EMA*(30): 28582.3 Buy

 

EMA*(100): 27738.7 Buy

 

*Exponential Moving Average

Nasdaq

For now, the main story is the US/China trade agreement which is keeping equities well bid, despite a resurgent USD. Keep an eye on incoming US data for any further USD strength.

 

RSI: 77.8843 Bullish

 

Stochastic: 47.87548 Bullish

 

MACD: 145.54 Bullish

 

EMA*(30): 8774.5 Buy

 

EMA*(100): 8323.8 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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