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!

Trading on margin products involves a high level of risk

Market Movers

As always, we look back at the week behind us and at the opportunities and events to watch in the week ahead. With the uncertainty of the markets, we chatted with experienced trader, Peter Petrou, and got his thoughts on how to adjust your strategy accordingly. Check out Parts One and Two or visit our YouTube channel directly.

 

Please note that because of current volatility, high demand, and limited supply and movement of GOLD, its spread has been higher to reflect the current market conditions. We do expect this fluctuation to continue until the pandemic’s market disruption ends.

Catching you up on last week:

• From Monday, we started to see the real economic impact of the pandemic — from weak PMI data to the highest US Jobless Claims on record

• The Fed announced its Quantitative Easing plan and the U.S. Senate passed the $2T Coronavirus stimulus bill, CARES

• Global indices and equities saw big gains, rebounding from oversold levels and reacting to stimulus efforts

• The US now has the highest number of confirmed COVID-19 cases

 

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

This week, keep an eye on:

• More data from Europe and the US; Nonfarm Payroll on Friday is one to watch

• Manufacturing data, most interesting of which from China; it is said the country has almost completely resumed back to normal pre-pandemic production numbers

• The EU continues to look for common ground on finding a response to Coronavirus, with its own 14-day deadline

• Daylight Savings in Europe means previous market hours before US DST resume

Let’s take a closer look…

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

GBPUSD

The cable’s giving good signals and clear risk levels. Since March 24th, it has broken trendlines, making a major break on March 26th in the morning around 1.1850. Even if RSI is close to 70, it could consolidate at these levels around 1.20/1.22 (with a possible re-test lower). Generally, the pair provides some clear levels for trading.

SPX500

It has recovered the green trendline from the beginning of 2016. It’s also facing some support very close (around 2620) and this will be the test for seeing if it can rise more. If a break to the upside does not happen, 2540, 2450, 2360 and then the lows will be the next levels to monitor.

ZOOM

The software service’s shares are doing well amid the world being quarantine, trading at all-time highs. For now, the range is 155-160 to the upside and 135 to the downside. If it retraces, keep an eye on the possible move to the green trendline in the 120 area.

PALLADIUM

Recently introduced as a trading instrument, it hs seen similar drops to other markets amid the current economic climate. It has retraced almost 70% to $2,400. Though the chart is not long-term, this is a resistance level. Generally, long-term perspective should be good because of the high demand and the bottlenecked supply chain.

Save The Date(s)

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

31 March 07:55 German Unemployment Rate and Chang EUR
31 March 09:00 EU Consumer Price Index EUR
1 April 01:45 Caixin Manufacturing PMI CNY
1 April 14:00 ISM Manufacturing PMI USD
3 April 12:30 Nonfarm Payroll USD

 

*The above times are in GMT

Trading on margin products involves a high level of risk

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.

Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71.10% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. This product is difficult to understand.