Forex Technical Analysis: Weekly Analysis on Major Pairs, Gold, Bitcoin – 15th August 2022

Weekly Analysis on Major Pairs, Gold, Oil, Bitcoin

• 16^th Aug: AUD – Monetary Policy Meeting Minutes & CAD – Consumer Price Index & Core 
• 17^th Aug: NZD – Rate Statement & Interest Rate Decision, GBP – Consumer Price Index & Core & USD – Retail Sales & Core & FOMC Meeting Minutes 
• 18^th Aug: AUD – Employment Change & Unemployment Rate & USD – Philly Fed Manufacturing Index & Unemployment Claims 
• 19^th Aug: NZD – RBNZ Statement Of Intent & USD – Unemployment Claims, GBP – Retail Sales & CAD – Retail Sales & Core 

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 drop slightly to test the support 1.02000 before rising further to test again the resistance 1.03700 and 1.04000 level and if that level is violated then the next possible level for the price to test will be the 1.04600 and 1.05000 level which is the next possible resistance area.
• GBPUSD, there are two possibilities, If price able to close above the resistance 1.22400 level, then the next possible level for the price to test will be the 1.24000 and 1.24600 level but if closes below the support 1.19300 level, then the next possible level for the price to test will be the 1.17500 and 1.17000 levels.
• AUDUSD, expecting the price to continue to rise from the current level to test the resistance 0.71500 and 0.71700 level before making a pullback to test again the support 0.70500 levels.
• NZDUSD, the price to continue to rise from the current level to test the resistance 0.65000 level before making a pullback to test again the support 0.64000 level.
• USDCHF, if price able to close below the 0.94000 level this week then the next possible level for the price to test will be the 0.93000 and 0.92500 level which is the next major support levels.
• USDCAD, expecting the price to continue to drop from the current level to test the next support 1.26700 level and if that level is violated then the next possible level for the price to test will be the 1.25500 and 1.25000 level which is the next possible support levels.
• USDJPY, the price to continue to rise from the current level to test again the resistance 135.500 level before making a pullback to test again the support 131.500 level and it is expected to stay within this range over the next few days.
• GOLD, expecting the price to continue to rise from the current level to test the next resistance 1830 and 1845 levels.
• BTCUSD, there are two possibilities, if price able to close above the resistance 26000 level, then the next possible level for the price to test will be the 29000 level and if price able to close below the support 22000 level, then the next possible level for the price to test will be the 19000 level.
• Finally on Brent Crude,expecting the price to continue to drop from the current level to test the support 90.00 level and if that level is violated then the next possible level for the price to test will be the 85.00 and 80.00 level which is the next major support levels.

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, and Crude Oil, and start the crypto trading.

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. Learn how to become a Forex IB and what is the top benefits of starting your business. 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.