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Weekly Analysis

Forex Technical Analysis: Weekly Analysis on Major Pairs, Gold, Bitcoin – 28th Feb 2022

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Weekly Analysis on Major Pairs, Gold, Bitcoin

  • 28th Feb – AUD – Retail Sales, CHF – Gross Domestic Product 
  • 1st Mar – AUD – Interest Rate Decision & Statement, CAD – Gross Domestic Product & USD – ISM Manufacturing PMI  
  • 2nd Mar – AUD – Gross Domestic Product, ALL – OPEC – JMMC Meeting, CAD – Interest Rate Decision & Statement & USD – ADP Non – Farm Employment Change & Crude Oil Inventories 
  • 3rd Mar – USD – Unemployment Claims, ISM Services PMI & Fed Chair Powell Speech & CAD – BOC Gov Macklem Speech   
  • 4th Mar – USD – Non – Farm Payroll 

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 below the 1.11200 level which is the recent support level this week then the next possible level for the price to test will be the 1.10000 level which is the next confluence area.
  • GBPUSD, if the price able to close below the 1.32700 level which is the recent support level this week then the next possible level for the price to test will be the 1.32000 and 1.31000 level which is the next confluence area.
  • AUDUSD, if the price able to close below the 0.71000 level which is the recent support level this week then the next possible level for the price to test will be 0.70000.
  • NZDUSD, if price able to close below the 0.66000 level which is the strong support level this week then there is high probability for the price to drop further to test the 0.65300.
  • USDCHF, if price able to close above the 0.93000 level which is the strong resistant level this week then there is high probability for the price to rise further to test the 0.93500 level.
  • USDCAD, closure above the 1.28500 level which is the strong resistant level this week then there is high probability for the price to rise further to test the 1.29000 and 1.29500.
  • USDJPY, if price able to close above the 116.000 level which is the strong resistant level this week then there is high probability for the price to rise further to test 117.000 and 117.700 levels.
  • GOLD, if price able to close above the 1930 level which is the strong resistant level this week then there is high probability for the price to rise further to test the 2,000 levels.
  • Finally, BTCUSD, closing below the 36,000 level which is the strong support level this week then there is high probability for the price to drop further to test the 32,910 level 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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