Weekly Market Commentary | 22.05 – 28.05

By Tomasz Wisniewski|

Published: May 22 2023, 07:43 GMT+0

Weekly Market Commentary | 22.05 – 28.05

Curious to know what’s happening on 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.


– On Monday, the empty calendar will not treat us with any data


– On Tuesday, major world economies will publish their PMI numbers


– Wednesday will start with an interest rate decision from New Zealand

– Market participants are expecting a 25bp rise

– Before the start of the European session, we will also learn the inflation number from the UK, expected to drop significantly to 8.2%

– The day will end with the FOMC Meeting Minutes


– Thursday will bring us a GDP number from the US, expected to come at 1.1%


– Friday will be a rather quiet day, starting with Retail Sales numbers from Australia and the UK

– The week will end with the PCE Price Index number from the US, who is expected to come at 0.3%


Setups for This Week:



Primary View:

The USDCHF broke the 0.907 support, which gave us a proper, long-term sell signal here

Most recently, the price tested this broken support as a resistance and the outcome was negative, the price bounced

In addition to the horizontal resistance, the price bounced off a dynamic one, which only strengthens the sell signal

Alternative View:

The price coming back above the 0.907 will cancel the negative sentiment


Primary View:

The AUDJPY is currently bouncing off a combination of two key resistances

The first one is a dynamic one, i.e., the upper line of the flag and the second one is the 92.3 that has been serving as a resistance since March

The bounce was made with a shooting star, which is very promising for sellers

Alternative View:

AUDJPY climbing back above the 92.3 will mean a signal to buy


Primary View:

Last week was crucial for this pair, as we escaped a 6-month-long sideways trend locked inside of the triangle

The escape was to the upside, giving us the trading signal

Alternative View:

The USDJPY coming back inside of this triangle will cancel the buy signal and bring back the negative sentiment


 Source: https://www.axiory.com/analytics/weekly-market-commentary/weekly-market-commentary-22-05-28-05