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Forex Analysis: Major Currency Pairs, Gold, Bitcoin – 1st Nov 2021

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

  • 1st Nov – USD – ISM Manufacturing PMI 
  • 2nd Nov – JPY – Monetary Policy Meeting Minutes, AUD – Interest Rate Decision, Statement & Conference 
  • 3rd Nov – NZD – Unemployment Rate & Employment Change, USD – ADP Non-Farm Employment Change, USD – ISM Services PMI 
  • 4th Nov – USD – FOMC Statement & Conference, ALL – OPEC – JMMC Meetings, GBP – Asset Purchase Facility, Monetary Policy Report, MPC Report & Votes 
  • 5th Nov – CAD – Employment Change & Unemployment Rate, USD – Non-Farm Payrolls 

Discover more insights into the week’s main economic events and financial releases. This week’s outlook presents an analysis of the economic calendar.

Forex Analysis and Levels for the Major Currencies

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 drop further to test the 1.15000 level this week and if that level is broken then the next possible level will be 1.14000. 
  • GBPUSD If the price close below the 1.36800 level within this week then there is high probability for the price to drop further to test the 1.36000 and 1.34700 level. 
  • AUDUSD, I’m expecting the price to drop to test the 0.74500 level, if this level is broken then the next possible level for the price to test is the 0.74000 and 0.73000. 
  • NZDUSD, I’m expecting the price to drop to test the 0.71000 level, if this level is broken then the next possible level for the price to test is the 0.70500. 
  • USDCHF, I’m expecting for the price to rise if it closes above the 0.92000 level this week, the next possible level will be 0.92500 level. 
  • USDCAD, I’m expecting for the price to rise if it closes above the 1.24000 level this week and the next possible level for the price to test is the 1.25000 and 1.26000 level. 
  • USDJPY, there is high probability for the market to continue to rise to test the 114.500 level this week and if that level is broken then the next possible level will be 115.500. 
  • 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. 
  • Gold trading, If the price closes below the 1770 level this week, then the next possible level will be 1750.
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 weekly analysis and top releases from the economic calendar are two important factors to conduct a market analysis and learn about the price movements before trading forex or Gold and BTC. 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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