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Weekly Analysis

Forex Technical Analysis: Weekly Analysis on Major Pairs, Gold, Bitcoin – 7th Feb 2022

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Weekly Analysis on Major Pairs, Gold, Bitcoin

  • 7th Feb – NZD – Bank Closed Due To Waitangi Day, EUR – ECB President Lagarde Speech 
  • 8th Feb – USD – Trade Balance & Import and Export Price Index 
  • 9th Feb – NZD – Inflation Expectations, USD – Crude Oil Inventories & FOMC Member Bowman Speech 
  • 10th Feb – CAD – BOC Governor Macklem Speech, USD – FOMC member Mester Speech, EUR – EU Economic Forecasts, USD – CPI & Core CPI and Unemployment Claims 
  • 11th Feb – JPY – Bank Closed Due To National Foundation Day, GBP – BOE Governor Bailey Speech & GDP, AUD – RBA Governor Lowe Speech & USD – UoM Consumer Sentiment 

For fundamental insights check the weekly market outlook and the key data 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 make a short pullback to test again the 1.13800 level and if the price closes below the 1.13800 level this week then the next possible level will be 1.12500 level.
  • GBPUSD, if the price able to close below the 1.34200 level this week then the next possible level for the price to test will be the 1.32500 level which is the next confluence area.
  • AUDUSD, expecting the price to continue to drop and if it’s able to close below the 0.70000 level this week then the next possible level for the price to test will be the 0.69000 level which is the next confluence area.
  • NZDUSD, if price able to close below the 0.65800 level this week then there is high probability for the price to drop further to test the 0.64800 or 0.64000  level.
  • USDCHF, expecting the price to continue to rise and if it’s able to close above the 0.92700 level this week then there is high probability for the price to rise further to test the 0.93000 and 0.93500 level.
  • USDCAD, expecting the price to continue to rise and if it’s able to close above the 1.27700 level this week then there is high probability for the price to rise further to test the 1.28500 level.
  • USDJPY, expecting the price to continue to rise and if it’s able to close above the 116.000 level this week then there is high probability for the price to rise further to test the 118.000 level which is the next confluence area.
  • GOLD, There is two possibilities, if the price able to close above the 1813 level this week then the next possible level for the price to test will be the 1833 and 1850 level and if it closes below the 1800 level this week then the next possible level for the price to test will be the 1782 and 1762 level.
  • Finally, BTCUSD, expecting the price to continue to rise and test the 43700 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.