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Weekly Newsletter (FX-Indices-Commodities)

Weekly Newsletter (FX-Indices-Commodities)
by admin

29/04/2019

IMPORTANT DISCLAIMER

The information of this report is of a general nature only. It is not a personal financial advice. It does not take into account your objectives, financial situation and personal needs. a-Quant is not responsible for your actions and recommends you contact a licensed financial advisor before acting on any information contained in this general information report.

SP500

Index took about 1% last week. The rally didn’t stop as we had estimated last week after a few “breaths”. Friday was quite bullish after two bearish days and the close price was quite close to the weekly high. It’s very possible that the up-trend will carry on, up to the level of 2942 points which is the highest price of last September.

DAX30

DAX30 continues its crazy up-trend rally. Although it’s in overbought levels for 2ndweek, buyers are still there and the area of 12460 points has many possibilities to take place. We will keep on searching for possible retracements in order to open buy positions. German unemployment rates and GDP maybe is the necessary fuel for the Index unless there will be unpleasant surprise.

 

FTSE100

Index showed strong reversal signs after the first two bullish days of last week. Friday though, closed at about the opening price which shows that there’s an uncertainty regarding the Index direction. We would stay away the first two days, waiting for a trend. Maybe Mr Carney’s (Bank of England) speech on Monday will indicate it.

US Oil

Oil had a strong reversal movement after last Wednesday and it will be driven mainly by the geopolitical events , so we would choose to stay away of positions , even though a short position is more preferable

Gold

Gold reached the area of $1266 last week but after that many buyers appeared. Although a short term bullish position up to the 1300$ level is preferable, we would short it at these levels

EURUSD

EURUSD had a violent break-out of 1.1170 as we had estimated last week and the price rolled to the area of 1.1110. Our long-term estimation is for prices even below 1.08 but this week’s many important news may change the trend in the short term. Pair is definitely bearish and we will follow it.

GBPUSD

Cable had the break-out at 1.2950 and fell till 1.2865. Although we had an attemption of recovery on Friday we estimate that the bearish movement will carry on, at least at the support of 1.2760. Volatility decreased even more and we must pay special attention to any possible spikes.

EYRJPY

JPY had a recovery to the most of its pairs and in combination of the weak EUR lead the pair below the price of 125. A possible cross below 123.40 – 123.50 will show us that the EURJPY is in a free fall. This week is a national holiday in Japan. Traders must pay strong attention because due to the lack of market depth, it’s very possible to have big spikes.

 

USDCHF

Monday and Tuesday were very bearish for the instrument while the next 3 days were “Doji” days around 1.02. Our models show strong probability for the up-trend continuation. Next important resistance is in the area of 1.0335.

AUDJPY

AUD has turned down for good due to China news. We don’t see a reason for this fact to change this week and we will open short positions in every opportunity. A possible break-out of 78 will lead the price to the area of 77.50. A possible US – China trade deal may change  things & cause a bullish reversal

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