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Weekly Analysis

Forex Technical Analysis: Weekly Analysis on Major Pairs, Gold, Bitcoin – 21st Feb 2022

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Weekly Analysis on Major Pairs, Gold, Bitcoin

  • 21st Feb – EUR – German Flash Manufacturing & Services PMI, GBP – Flash Manufacturing & Services PMI & USD – Bank Closed Due To President’s Day 
  • 22nd Feb – EUR – German IFO Business Climate, USD – Flash Manufacturing & Services PMI, Consumer Confidence  
  • 23rd Feb – JPY – Bank Closed Due To Emperor’s Birthday, NZD – Interest Rate Decision & Policy Report, GBP – Monetary Policy Report Hearing 
  • 24th Feb – GBP – BOE Gov Bailey Speech, USD – Gross Domestic Product & Unemployment Claims  
  • 25th Feb – EUR – Gross Domestic Product, USD – Core PCE & Core Durable Goods 

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 1.13800 level which is the recent resistant level this week then the next possible level for the price to test will be the 1.14500 and 1.15000 level which is the next confluence area.
  • GBPUSD, if the price able to close above the 1.36000 level which is the strong resistant level this week then the next possible level for the price to test will be the 1.37000 and 1.37500 level which is the next confluence area.
  • AUDUSD, expecting the price to continue to rise from current level to test the 0.72700 and 0.73000 level which is the next confluence area.
  • NZDUSD, if price able to close above the 0.67000 level which is the strong resistant level this week then there is high probability for the price to rise further to test the 0.68000 and 0.68300 level which is the next confluence area.
  • USDCHF, if price able to close below the 0.91800 level which is the strong support level this week then there is high probability for the price to drop further to test the 0.91000 and 0.90800 level which is the next confluence area.
  • USDCAD, expecting the price to drop after testing the 1.27700 level and if that happens the next possible level for the price to be tested is the 1.26500 and 1.26000 level, which is the next confluence area.
  • USDJPY, if price able to close below the 114.500 level which is the strong support level this week then there is high probability for the price to drop further to test the 113.500 and 113.000 level which is the next confluence area.
  • GOLD, expecting the price to make a pullback to test the previous resistant level 1870 before continue to rise further to test the 1930 level which is the next confluence area.
  • Finally, BTCUSD, expecting the price to continue to drop further to test the 36,000 level which is the next strong support level before continue to rise further to test the 41,700 and 43,700 levels which is the next confluence area. 
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 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 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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