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Weekly Analysis

Forex Analysis: Major Currency Pairs, Gold, Bitcoin – 8th Nov 2021

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

  • 9th Nov – EUR – ZEW Economic Sentiment, USD – Producer Price Index 
  • 10th Nov – USD – Consumer Price Index & Unemployment Claims  
  • 11th Nov – AUD – Employment Change & Unemployment Rate, GBP – Gross Domestic Product & Manufacturing Production, EUR – ECB Economic Bulletin & Forecast    
  • 12th Nov – USD – JOLTS Job Openings 

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, If the price closes above the 1.15700 level this week then there is a high probability for the price to rise to test the 1.17000 level.
  • GBPUSD I’m expecting the price to bounce from 1.34700 level and rise to test the 1.36000 level.
  • AUDUSD, I’m expecting the price to rise to test the 0.74500 level, if this level is broken then the next possible level for the price to test is the 0.75600 level.
  • NZDUSD, I’m expecting the price to rise to test the 0.71500 level, if this level is broken then the next possible level for the price to test is 0.72000.
  • USDCHF, If it closes above the 0.91500 level this week, the next possible level will be 0.92000 level.
  • USDCAD, I’m expecting the price to continue to rise to test the 1.25000 level and if that level is broken then the next possible level will be the 1.26000 level.
  • USDJPY, If the price manages to close above the 114.500 level by this week then there is a high probability for the price to rise to test the 115.500 level.
  • Bitcoin: BTCUSD, I’m expecting the price to continue to rise to test the 66000 level and if that level is broken then the next possible level will be 70000.
  • Gold trading, If the price closes above the 1830 level this week, then the next possible level will be 1845
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 Bitcoin. 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 after you open a forex account is technical analysis. 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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