Weekly Analysis on Major Pairs, Gold, Bitcoin
- 1st Feb – AUD – Interest Rate Decision & Statement, CAD – Gross Domestic product, USD – ISM Manufacturing PMI & JOLTS Job Openings
- 2nd Feb – NZD – Employment Change & Unemployment Rate, ALL– OPEC – JMMC Meetings, USD – ADP Employment Change & Crude Oil Inventories
- 3rd Feb – GBP – Interest rate Decision, Statement & MPC Voting, EUR – Interest rate Decision, Statement & Conference, USD – Unemployment Claims &, ISM Services PMI
- 4th Feb – CAD – Employment Change & Unemployment Rate, USD – Non-Farm Payrolls & Unemployment Rate
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 make a short pullback to test again the 1.12000 level before start dropping to test the 1.10000 level.
- GBPUSD, expecting the price to continue to drop and test the 1.32500 level which is the next confluence area.
- AUDUSD, expecting the price to continue to drop and test the 0.69000 level which is the next confluence area.
- NZDUSD, if price able to close below the 0.64800 level this week then there is high probability for the price to drop further to test the 0.64000 level.
- USDCHF, expecting the price to make a short pullback to test between the 0.92700 and 0.92500 levels before start rising to test the 0.93500 level.
- USDCAD, expecting the price to make a short pullback to test the 1.27000 level again before start rising to test the 1.28500 level.
- USDJPY, expecting the price to make a short pullback to test between the 115.000 and 114.500 levels before start rising to test the 118.000 level which is the next confluence area.
- GOLD, expecting the price to make a short pullback to test between the 1810 and 1800 levels again before start dropping to test the 1762 level which is the next confluence area.
- Finally, BTCUSD, expecting the price to continue to rise and test the 40700 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.