Weekly Market Commentary | 19.12 – 25.12

By Tomasz Wisniewski|

Published: December 19 2022, 09:54 GMT+0

Weekly Market Commentary | 19.12 – 25.12

Curious to see what’s happening at the markets this week? Take a quick tour of the latest news, economic updates, and trading setups that will keep you up to date and in the know.


– The German Ifo is the most important number published today and it came better than expected (88.6 vs 87.6 exp).


– Tuesday will be important for the Yen, as we will witness a rate decision (no changes expected) and Monetary policy statement, as well as a press conference.

– We will also learn the retail sales data from Canada, where we are expecting a 1.5% rise compared to the previous month’s drop of 0.7%.


– Wednesday is a key day for the Canadian Dollar, as we are about to find out the inflation data. On a monthly basis, we are expecting prices to drop 0.1%.

– The day will end with the CB Consumer Confidence number, where a slight rise to 101 is expected.


– This Thursday shall be one of the quietest Thursdays in the past few months – no surprise here, as it is the last week before Christmas. The only piece of data to catch our eye will be the Final GDP from US, where a 2.9% rise is expected.


– Friday is another important day for the Canadian Dollar as the GDP numbers will be released, as well as the Core PCE Price Index.


Setups for This Week:


Brent Oil

Primary View:

Last week finished the bounce off a key dynamic (blue) and horizontal (orange) resistances

As long as we stay below the sell signal is ON

Alternative View:

If the price breaks the two resistances and closes the day above the 84 USD/bbl mark, the buy signal will be created



Primary View:

The pair has been trading inside of the symmetric triangle pattern (red) for the past few weeks

Most recently, EURCHF attempted a breakout to the upside but was stopped

Price closing the day above the pink resistance on the 0.989 will be a strong buy signal

Alternative View:

Should the price close the day below the lower line of the triangle, the sell signal will be created



Primary View:

 Since the beginning of October, the price was inside of a sideways trend between yellow resistance and orange support

Finally, in the last week, we got the breakout to the upside

As long as we stay above the yellow support, the sentiment is positive

Alternative View:

EURAUD coming back below the yellow support would mean a proper sell signal