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Weekly Analysis

Forex Technical Analysis: Weekly Analysis on Major Pairs, Gold, Bitcoin – 18th July 2022

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Weekly Analysis on Major Pairs, Gold, Oil, Bitcoin

  • 19th July: AUD – Monetary Policy Meeting Minutes 
  • 20th July: GBP – BOE Governor Bailey Speech, AUD – BOE Governor Lowe Speech, GBP – Consumer Price Index & CAD – Consumer Price Index & Core 
  • 21st July: JPY – Interest Rate Decision & Press Conference, EUR – Main Refinancing Rate, Monetary Policy Statement & ECB Press Conference and USD – Philly Fed Manufacturing Index & Unemployment Claims 
  • 22nd July: NZD – RBNZ Statement Of Intent, GBP – Retail Sales, EUR – German Flash Manufacturing & Services PMI, GBP – Flash Manufacturing & Services PMI, CAD – Retail Sales and Core & USD – Flash Manufacturing & Services PMI 

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, if the price able to close above the 1.02000 resistant level this week, then there is high probability for the price to rise further to test the 1.04000 level and would result in a 200 pips gain.
  • GBPUSD, if the price able to close above the 1.20000 resistant level this week, then there is high probability for the price to rise further to test the 1.22000 level and would result in a 240 pips gain.
  • AUDUSD, if the price able to close above the 0.69000 resistant level this week, then there is high probability for the price to rise further to test the 0.70000 level and would result in a 100 pips gain
  • NZDUSD, if the price able to close above the 0.62500 resistant level this week, then there is high probability for the price to rise further to test the 0.64000 and would result in a 100 pips gain.
  • USDCHF, if the price able to close below the 0.97000 support level this week, then there is high probability for the price to drop and test the next support level of 0.96000.
  • USDCAD, if price able to close below the support 1.29700 level this week then the next possible level for the price to test will be the 1.29000 level which is the next support level and would result in 100 pips gain.
  • USDJPY, if price able to close below the support 135.500 level this week then the next possible level for the price to test will be the 131.500 level which is the next support level and would result in 400 pips gain.
  • GOLD, if price able to close above the 1750 level this week then the next possible level for the price to test will be the 1800 level which is the previous support level and would result in 350 pips gain.
  • BTCUSD, closing above the upper range 22000 level, then the next possible level for the price to test will be the 26000 level and if price able to close below the bottom range 18000 level, then the next possible level for the price to test will be the 16000 level.
  • Finally on Brent Crude, in case of closing above the 100.00 level, then the next possible level for the price to test will be the 104.00 and 107.00 level which is the next possible resistant and would result in 40 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, 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.


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