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Forex Technical Analysis: Weekly Analysis on Major Pairs, Gold, Bitcoin – 25th Oct 2021

Check the forex news, weekly analysis, and top events in the financial markets.

  • 25th Oct – EUR – German ifo Business Climate 
  • 26th Oct – USD – Consumer Confidence 
  • 27th Oct – AUD – Consumer Price Index, USD – Durable Goods, CAD – BOC Interest Rate Decision 
  • 28th Oct – JPY – BOJ Interest Rate Decision, EUR – Interest Rate Decision & Press Conference, USD – Gross Domestic Product 
  • 29th Oct – AUD – Retail Sales, EUR – Gross Domestic Product & Consumer Price Index, CAD – Gross Domestic Product 

For more insights check the major event in the financial market outlook and top releases of the economic calendar.

Forex Analysis and Levels for the Major Pairs

Technical analysis and trade ideas for the major currency pairs, gold, and Bitcoin, can be used to establish suitable objectives and manage risk by identifying regions in a chart where the price is expected to approach.

  • EURUSD, I’m expecting the price to rise to test the 1.17000 level this week as it’s also the resistant area from the major downtrend. On GBPUSD If the price close above the 1.38000 level within this week then there is high probability for the price to rise to test the 1.39000 level. On AUDUSD, I’m expecting for the price to continue to rise to test the 0.75600 level. On NZDUSD, I’m expecting the price to continue to rise to test the 0.72000 level, if this level is broken then the next possible level for the price to test is the 0.72500. On USDCHF, I’m expecting for the price to drop further if it closes below the 0.91500 level this week, the next possible level will be 0.91000 level. On USDCAD, I’m expecting for the price to continue drop further if it closes below the 1.23400 level this week and the next possible level for the price to test is the 1.22500 level. On USDJPY, there is high probability for the market to drop to test the 113.200 level this week and if that level is broken then the next possible level will be 112.200. 
  • Gold trading,  If the price closes above the 1800 level this week, then the next possible level will be 1830.
  • BTCUSD,I’m expecting a drop if price closes below the 60000 level within this week, if that happens then there is high probability for the price to drop to test the 53000 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 technical analysis

Forex analysis is one of the main skills for forex traders to be successful in their trading careers. The main function of analysis is to analyze the financial markets using different methods and indicators to identify the price movement. One of the main approaches is technical analysis since most successful forex traders rely on this type of analysis to study the market. In the forex market, traders can use forex news and analysis to analyze the major pairs, Gold, and cryptocurrencies.

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