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Weekly Analysis

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

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Weekly Analysis on Major Pairs, Gold, Oil, Bitcoin

  • 4th July: CHF – Consumer Price Index 
  • 5th July: AUD – Interest Rate Decision & Statement & GBP – BOE Governor Bailey Speech 
  • 6th July: NZD – RBNZ Statement of Intent, EUR – Retail Sales and USD – JOLTS Job Openings, ISM Services PMI & FOMC Meeting Minutes 
  • 7th July: USD – ADP Non-Farm Employment Change & Unemployment Claims & CAD – Ivey PMI 
  • 8th July: CAD – Employment Change & Unemployment Rate & USD – Non-Farm Payrolls 

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 above the 1.05000 resistant level this week, then there is high probability for the price to rise further to test the 1.06000 and 1.08000 level and would result in a 180 pips gain.
  • GBPUSD, if the price able to close above the 1.22400 resistant level this week, then there is high probability for the price to rise further to test the 1.24000 and 1.26000 level and would result in a 340 pips gain.
  • AUDUSD, if the price able to close above the 0.69000 resistant level this week, then there is high probability for the price to rise further to test the 0.70000 and 0.71500 level and would result in a 270 pips gain.
  • NZDUSD, if the price able to close above the 0.62500 resistant level this week, then there is high probability for the price to rise further to test the 0.64000 and 0.65000 level and would result in a 180 pips gain.
  • USDCHF, if the price able to close above the 0.96000 support level this week, then there is high probability for the price to rise and test the 0.97000 level before start dropping to test again the support 0.96000 and would result in a 100 pips gain.
  • USDCAD, if price able to close below the support 1.28700 level this week then the next possible level for the price to test will be the 1.28000 and 1.27000 level which is the next support level and would result in 140 pips gain.
  • USDJPY, expecting the price to drop from the current level to test again the support 131.500 level which would result in 420 pips gain.
  • GOLD, if price able to close above the 1845 level this week then the next possible level for the price to test will be the 1900 level which is the next resistant level and would result in 550 pips gain.
  • BTCUSD, closing below the support 18000 level, would open door for further losses towards the next possible level for the price to test will be the 16000 level which is the next possible support and would result in 2000 pips gain.
  • Finally on Brent Crude, in case of closing below the support 104.00  level, then the next possible level for the price to test will be the 100.00  level which is the next possible support and would result in 40 pips gain. 
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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