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

Weekly Analysis on Major Pairs, Gold, Bitcoin

• 28^th Mar – GBP – BOE Gov Bailey Speech 
• 29^th Mar – AUD – Retail sales & USD – JOLTS Job Openings 
• 30^th Mar – GBP – MPC Member Broadbent Speech & USD – ADP Non-Farm Employment Change and Gross Domestic Product 
• 31^st Mar – GBP – Gross Domestic Product, EUR – Retail sales, CAD – Gross Domestic Product & USD – Personal Spending & FOMC Member Williams Speech 
• 1^st April – USD – Non-Farm Payrolls & ISM Manufacturing 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, expecting the price to continue to drop from current level to test the 1.08000 and 1.07300 level which is the next strong support level.
• GBPUSD, if price able to close below the support 1.31000 level this week then the next possible level for the price to test will be the 1.28800 and 1.28000 level.
• AUDUSD, expecting to see a pullback where the price is expected to test the previous resistance level of 0.74000, which will become a support level.
• NZDUSD, expecting the price to make a pullback towards downside to test the previous resistant 0.69000 and 0.68500 level.
• USDCHF, expecting the price to continue to rise from current level to test the 0.93700 and 0.94000 level which is the next strong resistant level.
• USDCAD, expecting the price to continue to drop to test the previous resistant 1.24000 level before start rising to test the 1.26000 level which is possible to become the next strong resistant level.
• USDJPY, expecting the price to continue rising to test the next major resistant between 123.700 and 125.000 level before start dropping further to test the 120.000 and 119.300 level which is the next strong support level.
• GOLD, expecting the price to rise further from its current level to test the next support at 2000 level, and if that is breached, the price is likely to rise further and make a new all-time high around 2100 and 2130 levels.
• Finally, BTCUSD, If the price closes above the 46200 level this week then there is high probability for the price to rise and test the 50500 and 52000 level and if the price closes below the 37000 level this week then there is high probability for the price to drop and test the 35000 and 33000 level. 

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 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.