The weekly Technical Analysis and trade ideas for the major currency pairs, gold, and Bitcoin.
Forex Weekly Analysis
- EURUSD, I believe the market will start to drop to test the 1.18450 level and if the level is broken then the next possible level for the market to test is the 1.18000 level.
- GBPUSD, I’m expecting the market to rise a bit more to test the 1.39000 level before start dropping. The next possible level will be 1.38000 and 1.37600 level.
- AUDUSD, I believe the market will start to drop to test the 0.74000 level and if the level is broken then the next possible level for the market to test is the 0.73000 level.
- NZDUSD, I’m expecting the market to drop to test the 0.71000 level and if that level is broken then the next possible level will be 0.70000 level.
- USDCHF, I believe there are possibilities for the market to drop to test the 0.91000 level and rise again to test the 0.92000 level.
- USDCAD, I’m expecting the market to rise to test the 1.26000 level and if that level is broken then the next possible level will be the 1.27000 level.
- USDJPY, there is a high probability for the market to drop to test the 109.300 level before start rising and test the 110.500 level.
- Gold, I’m expecting a drop to test again the 1820 level before start rising to test the 1850 level. Finally,
- Bitcoin BTCUSD, I’m expecting a drop after testing the 53000 level to 46200 level.
DISCLAIMER: The publication of market analysis is a marketing communication and does not constitute investment recommendations. This content provides a general views of our experts and does not consider the individual circumstances, investment experience or current financial situation. AximTrade is not liable for any losses incurred due to the use of analysis. Trading leveraged products such as Forex and CFDs may not be suitable for all investors as they carry a high degree of risk to your capital. Please ensure that you fully understand the risks involved, taking into account your investments objectives and level of experience, before trading, and if necessary, seek independent advice.
Learn more about forex analysis and start trading
Forex technical analysis is the most popular method used by traders to analyze the financial markets. The main benefit of learning forex technical analysis is to identify the relationships between price/volume and market indicators such as the moving average and MACD, etc. Why technical analysis is important for forex trading? According to studies, most successful forex traders rely on technical analysis to study the market. In the forex market, traders can use technical analysis to analyze the major pairs, Gold, and cryptocurrencies.
AximTrade is a fast-growing brokerage service provider in the global markets with a highly advanced CopyTrade platform that always all types of traders to enter the market. Learn how to open forex account with easy few steps and join the financial markets now! The Award-Winning forex broker provides a highly efficient trading environment to enable forex traders with easy-to-use technology, fast payment methods, educational resources, market analysis, varieties of forex bonus promotions, and a highly competitive trading environment with the best trading conditions.