Forex Technical Analysis: Weekly Analysis on Major Pairs, Gold, Bitcoin – 22nd August 2022

Weekly Analysis on Major Pairs, Gold, Oil, Bitcoin

• 23^rd Aug: EUR, GBP & USD Flash Services & Manufacturing PMI & USD New Home Sales 
• 24^th Aug: USD Durable & Core Durable Goods Order & Pending Home Sales 
• 25^th Aug: NZD Retail Sales, EUR German ifo Business Climate & USD Perlim GDP & Unemployment Claims 
• 26^th Aug: Jackson Hole Symposium , USD Core PCE Price Index, Fed Chair Powell Speech and Revised UoM Consumer Sentiment 

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, closing below the major support 1.00000 level this week will allow for more depreciation to the next possible level for the price to test will be the 0.99000 and 0.98300 level which is the next support.
• GBPUSD, if price able to close below the support 1.17000 level this week then the next possible level for the price to test will be the 1.15000 and 1.14500 level which is the next support.
• AUDUSD, if price closes below the support 0.68500 level this week then the next possible level for the price to test will be the 0.67500 and 0.67000 level which is the next support level.
• NZDUSD: expecting the price to make a pullback to test the broken support 0.62000 level before dropping further to test the next support 0.61000 and 0.60500 levels.
• USDCHF, by closing above the resistance 0.96000 level this week then the next possible level for the price to test will be the 0.97000 and 0.97500 level which is the next resistance levels.
• USDCAD, if price is able to close above the resistance 1.30000 level this week then the next possible level for the price to test will be the 1.30700 and 1.31000 level which is the next resistance.
• USDJPY, closing above the resistance 137.000 level this week would open door to the next possible level for the price to test will be the 139.000 and 140.000 levels.
• GOLD, if price able to close below the support 1735 level this week then the next possible level for the price to test will be the 1700 and 1685 level which is the next support.
• BTCUSD, expecting the price to make a pullback to test the broken support 22000 level before dropping further to test the next support level at 19000.
• Finally on Brent Crude, if price able to close below the support 90.00 level this week then the next possible level for the price to test will be the 85.00 and 80.00 level which is the next support 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.
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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.