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Weekly Analysis

Forex Technical Analysis: Weekly Analysis on Major Pairs, Gold, Bitcoin – 13th June 2022

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Weekly Analysis on Major Pairs, Gold, Oil, Bitcoin

  • 13th June – GBP: Gross Domestic Product, Trade Balance, Industrial and Manufacturing Production 
  • 14th June – USD: Producer Price Index & Core 
  • 15th June – USD: FOMC Statement & Press Conference 
  • 16th June – AUD: Employment Change & Unemployment Rate, CHF: SNB Rate Decision, GBP: Interest Rate Decision, Statement & Press Conference & USD: Unemployment Claims. 
  • 17th June – JPY: BoJ Meeting, GBP: Retail Sales & USD: Fed Chair Powell Speech.  

For fundamental insights check the weekly market outlook and the key data releases releases on the economic calendar.

Weekly 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, expecting the price to bounce back from the current level to test the previous support 1.06000 level, which possible to become the new resistant. If the price broke the 1.06500 resistant level this week, then there is high probability for the price to rise further to test the 1.07300 and 1.08000 level and would result in a 180 pips gain.
  • GBPUSD, expecting the price to continue to drop to test the support 1.22400 before start rising to test the previous support 1.24600 level, which possible to become the new resistant. If the price broke the 1.24600 resistant level this week, then there is high probability for the price to rise further to test the 1.26000 and 1.26700 level and would result in a 360 pips gain.
  • AUDUSD, the price may test the next support 0.70000 level before start rising to test the previous support 0.71500 level, which possible to become the new resistant level, a possible 170 pips gain.
  • NZDUSD, if price able to close below the 0.63500 level this week then the next possible level for the price to test will be the 0.62700 and 0.62500 level which is the next support level and would result in 80 pips gain.
  • USDCHF, expecting the price to make a pullback to test the previous resistant 0.98300 or 0.97000 level which possible to become a new support before continue to rise further to test 0.99000 and 1.00000 level.
  • USDCAD, possible pullback on the downside to test the support level at 1.27000 before rising to test the 1.28000 and 1.29000 level and would result in 140 pips gain.
  • USDJPY, expecting the price to continue to rise to test the next resistant 135.500 level before dropping to test the previous resistant 131.300 level, which possible to become the new support level.
  • GOLD, if price able to close above the 1870 level this week then the next possible level for the price to test will be the 1900 level which is the next resistant level and would result in 300 pips gain.
  • BTCUSD, If price able to close above the upper range 32500 level, then the next possible level for the price to test will be the 35500 level and if price able to close below the bottom range 25000 level, then the next possible level for the price to test will be the 23000 level
  • Finally on Brent Crude, expecting the price to rise from current level to test the next resistant levels 127 and 130 which would result in a 70 pips gain. 
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 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 technical indicators to identify the price movement. One of the main approaches is technical analysis since most successful forex traders rely on this type of weekly analysis to study the market. In the forex market, traders can use forex news and analysis to analyze the major pairs, Gold, Bitcoin, Crude Oil and cryptocurrencies.

AximTrade offers forex weekly analysis and FX news for traders by experts on Major Currency Pairs, Gold, and Bitcoin. AximTrade is a fast-growing brokerage service provider and award-winning platform with one of the best CopyTrade platforms in the trading world. AximTrade, the forex broker provides a dynamic and 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 highly competitive trading environment with the best trading conditions.


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