Home Markets WEEKLY NEWSLETTER (FX-INDICES-COMMODITIES)

WEEKLY NEWSLETTER (FX-INDICES-COMMODITIES)

WEEKLY NEWSLETTER (FX-INDICES-COMMODITIES)
by admin

03/06/2019

 

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.

 

EURUSD

EURUSD had the same reaction this week too, as had predicted. When it approached 1.1110 it had a strong bullish reaction, up to 1.1190. This week, more or less, we believe that will see the same pattern: attempting of breaking 1.1110 and if no success, then bullish reaction. If the pair breakςs 1.1110 for good then we may see prices at 1.10 or even at the area of 1.08. Important news on Monday (US ISM), Tuesday (Euro-zone CPI), Thursday (ECB Rate Decision) and of course Friday with NFPs, prelude a very volatile week.

 

GBPUSD

Last Friday, GBPUSD hit the lowest price of the last week at 1.2558. Instrument has lost about 5% in just one month and even the bullish reaction last Friday that continues this Monday is not able to change the trend so far. We remain sellers with target the area of 1.2470-1.2480. UK PMI on Wednesday but above all Mr. Carney’s speech on Thursday and BoE/TNS Inflation on Friday may give the necessary fuel to the instrument for strong movements.

 

USDJPY

USDJPY had the bullish reactions above 109 that we had predicted, until last Friday where the pair collapsed at 108.27. We believe that there’s more room for falling and the instrument may approach the area of 107.50 and this will be our main target this week. Important news for Japanese economy is mainly on Tuesday with the Monetary Base announcement, Wednesday with PMI, Friday with Leading & Coincident Indices but above all, the very important speech of Mr. Kuroda (Band of Japan) on Thursday.

 

EURJPY

EURJPY broke 122 and as we had successfully predicted, it fell down with a strong momentum. Price of 120 is now visible. We’ll remain sellers and we target a few pips above 120. If 120 falls, then another strong bearish wave follows.

 

EURGBP

EURGBP had a rest of its bullish trend the first days of last week but last Thursday and Friday it continued its uptrend and it reached the area of 0.8870. Our last week’s target which is 0.8925 still remains.

 

USDCAD

USDCAD had a good uptrend movement last week that gave an important strength to the instrument. Since the important resistance of 1.3520 has broken, we will favour long positions this week with targets 1.3590 and 1.3650. Pay special attention for potential high volatility on Monday (PMI) and on Friday (Unemployment rate).

 

USDCHF

Our prediction was quite successful for the last week reaction of USDCHF. It reached the area of 1:1 and it broke it with a strong bearish momentum this Monday. We remain sellers this week with a main target a few pips above 0.99. The Swiss unemployment rate on Friday may affect the price of the pair.

 

AUDUSD

AUDUSD after a few days’ consolidation at the beginning of last week, finally it confirmed the new bullish trend that we had predicted. The big bet for the instrument is the important resistance of 0.70 but above that, next target is the area of 0.7060. Pay special attention on Tuesday because of the important announcement of RBA Cash Rate Target and on Wednesday because of Australian GDP announcement

 

SP500

The bearish trend took an even stronger momentum last week. SP500 has lost almost 10% the last month. We prefer short positions for the current week and our first target is 2,723 points. Below that level we may see prices close to 2,630 points. This is a very important week for US economy, not only because the trade war is getting stronger and more intense but there is also very important news like ISM on Monday, Factory Orders on Tuesday, ISM Non-Manufacturing/Services Composite on Wednesday, Trade Balance on Thursday and of course NFPs on Friday.

 

DAX30

A very bad week for DAX30 passed by as the Index lost more than 3%. The international environment and the problems of the German banks have affected strongly DAX30. The strong bearish trend is obvious and we will follow it with a first target at 11,295 points.

 

FTSE100

FTSE100 had strange patterns last week. Alternation of positive and negative days but the overall result is negative. The current price area of the Index is very important. It may have bullish reactions but the trend is bearish. Generally, we stay out but if we had to trade the Index, we’d prefer short opportunistic positions with short-term horizon.

 

Japan225

Japan225 had a light downtrend during last week until last Friday where it lost more than 500 points. 20,170 points is a good target for sellers.

 

Gold

Gold had the ordinary behaviour until last Wednesday but on Thursday & Friday it jumped above $1,300. Since we’re friends of the trend, we’ll follow this uptrend and our long positions will have a first target at $1,324 and for more long-term traders the area of $1,345.

 

US Oil

US Oil had two very bearish days last week: Thursday and Friday. Price moved below $55 and last week closed at $53.35. We insist in our main strategy for break-in trading at the range of $52-55$.

 

 

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