Forex Technical Analysis: Weekly Analysis on Major Pairs, Gold, Bitcoin – 4th April 2022

Weekly Analysis on Major Pairs, Gold, Bitcoin

• 4^th April – EUR – German Trade Balance & CAD – BOC Business Outlook Survey 
• 5^th April – AUD – Interest Rate Decision & Statement, GBP – Final Services PMI & USD – ISM Services PMI 
• 6^th April – GBP – Ivey PMI 
• 7^th April – USD – FOMC Meeting Minutes, AUD – Trade Balance & EUR – Retail Sales & ECB Monetary Policy Meeting Accounts 
• 8^th April – CAD – Employment Change & Unemployment Rate 

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 price able to close below the support 1.10000 level this week then the next possible level for the price to test will be the 1.08000 and 1.07300 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 0.68500 and 0.68000 level.
• USDCHF, if price able to close above the 0.93000 level this week then the next possible level for the price to test will be the 0.93700 and 0.94000 level which is the next strong resistant level.
• USDCAD, if price able to close above the 1.25300 level this week then the next possible level for the price to test will be the 1.26000 and 1.26300 level which is the next strong resistant level.
• USDJPY, if price able to close below the support 121.500 level this week then the next possible level for the price to test will be the 120.000 and 119.300 level which is the next strong support level.
• GOLD, if price able to close above the 1930 level this week then the next possible level for the price to test will be the 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, expecting the price to continue to rise from current level to test the 50500 and 52000 level which is the next strong resistant 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, Crude Oil 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.