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Weekly Analysis

Forex Technical Analysis: Weekly Analysis on Major Pairs, Gold, Bitcoin – 29th August 2022

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Weekly Analysis on Major Pairs, Gold, Oil, Bitcoin

  • 29th Aug: AUD – Retail Sales 
  • 30th Aug: EUR – Consumer Price Index, & USD – CB Consumer Confidence & JOLTS Job Openings 
  • 31st Aug: EUR – CPI & Core CPI Flash Estimate, USD – ADP Non-Farm Employment Change & CAD – Gross Domestic Product 
  • 1st Sep: CHF – Consumer Price Index & USD – Unemployment Claims & ISM Manufacturing PMI 
  • 2nd Sep: 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, closing below the major support 0.98300 level this week then the next possible level for the price to test will be the 0.97000 and 0.95700 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 levels.
  • AUDUSD, if price able to close 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 levels which is the next support area.
  • NZDUSD: expecting the price to continue drop from the current level to test the support 0.61000 and 0.60500 level and if that level is violated then the next possible levels for the price to test will be the 0.60000 and 0.59500 levels.
  • USDCHF, by closing above the resistance 0.97500 level this week then the next possible level for the price to test will be the 0.99000 and 0.99500 level which are the next resistance levels.
  • USDCAD, expecting the price to continue rise from the current level to test the resistance 1.30700 and 1.31000 level and if that level is violated then the next possible level for the price to test will be the 1.31700 and 1.32000 levels.
  • USDJPY, the price is expected to continue rising from the current level to test the next resistance levels at 139.000 and 140.000.
  • GOLD, closing below the support level 1735 this week will open door for further declining towards 1700 and 1685, the next support area.
  • BTCUSD, expecting the price to continue drop from the current level to test the next support 19000 and 18000 level and if that level is violated then the next possible level for the price to test will be the 16000 and 15000 levels.
  • Finally on Brent Crude, if price able to close above the resistance 100.00 level this week then the next possible level for the price to test will be the 104.00 and 107.00 which are the next resistance levels.
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 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.


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