Weekly Analysis on Major Pairs, Gold, Oil, Bitcoin
- 25th July: EUR – German ifo Business Climate
- 26th July: USD – CB Consumer Confidence & New Home Sales
- 27th July: AUD – Consumer Price Index & USD – Durable and Core Durable Goods & FOMC Rate Decision & Monetary Policy Statement
- 28th July: USD – Gross Domestic Product & Unemployment Claims
- 29th July: USD – Consumer Price Index, CAD – Gross Domestic Product & USD – Core PCE Price Index
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 continue to rise from current level to test the previous support 1.04000 level which is the next possible resistance.
- GBPUSD, the price may continue to rise from current level to test the previous support 1.22000 level which is the next possible resistance.
- AUDUSD, there is two possibilities for the pair; if price is able to close above the resistant 0.70500 level, then the next possible level for the price to test will be the 0.71500 and 0.71700 level and if price able to close below the support 0.68500 level, then the next possible level for the price to test will be the 0.67500 and 0.67000 level.
- NZDUSD, closing above the 0.62500 resistant level this week, there would be a high probability for the price to rise further to test the 0.64000.
- USDCHF, if the price able to close below the 0.95500 support level this week, then there is high potential for the price to drop and test the next support level of 0.94500 and 0.94000.
- USDCAD, expecting the price to make a short pullback towards the previous support before continue to drop further to test the 1.28000 and 1.27700 level which is the next support level.
- 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, closing 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.
- BTCUSD, if price able to close above the 23000 level this week then the next possible level for the price to test will be the 26000 level.
- Finally on Brent Crude, falling below the support 97.00 level, makes the next possible level for the price to test is 93.00 and 90.00 support levels.
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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.