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Weekly Analysis

Forex Technical Analysis: Weekly Analysis on Major Pairs, Gold, Bitcoin – 5th September 2022

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Weekly Analysis on Major Pairs, Gold, Oil, Bitcoin

  • 5th Sep: GBP – Final Services PMI & ALL MAJORS – OPEC-JMMC Meetings 
  • 6th Sep: RBA Interest Rate Decision & Statement & USD – Final Services PMI & ISM Services PMI 
  • 7th Sep: AUD – Gross Domestic Product, GBP – Monetary Policy Report Hearings & CAD – Interest Rate Decision & Statement 
  • 8th Sep: JPY – Gross Domestic Product, AUD – RBA Gov Lowe Speech, EUR – Interest Rate Decision & USD – Unemployment Claims 
  • 9th Sep: 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, expecting the price to drop from the current level to test the support 0.99000 level before making a bounce to test back again the resistance level 1.00000.
  • GBPUSD, the price may show some correction moves to the upside to test the broken support 1.17000 and 1.17500 level which is expected to become the new resistance.
  • AUDUSD, the price is expected to drop from the current level to test the support 0.67500 and 0.67000 level before making a bounce to test again the resistance levels 0.68500 and 0.69000.
  • NZDUSD: expecting the price to continue to rise from the current level to test the 0.62000 and 0.62500 level which is the next possible resistance.
  • USDCHF, if price able to close below the resistance 0.98000 level this week then the next possible level for the price to test will be the 0.97500 and 0.97000 level and if that level is violated then the next level for the price to test will be the 0.96500 level which is the next support.
  • USDCAD, by closing below the resistance 1.30700 level this week then the next support level for the price to test will be the 1.30000 and 1.29700 level and if that level is violated then the next levels for the price to test will be the 1.29000 and 1.28700 which are the next support levels.
  • USDJPY, if price able to close below the resistance 139.000 level this week then the next possible level for the price to test will be the 137.000 and 135.500 level which is the next support.
  • GOLD, expecting the price to continue to rise from the current level to test the previous broken support 1735.
  • BTCUSD, the price to continue drop from the current level to test the support 19000 and 18000 level before making a bounce towards upside to test the resistance 22000 and 23000 levels.
  • Finally on Brent Crude, there are two possibilities,; if price closes above the resistant 93.00, then the next possible level for the price to test will be the 97.00 level but closing below the support 90.00, then the next possible level for the price to test will be the 85.00 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 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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