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Weekly Analysis

Forex Technical Analysis: Weekly Analysis on Major Pairs, Gold, Bitcoin – 21st March 2022

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Weekly Analysis on Major Pairs, Gold, Bitcoin

Check the weekly analysis and trade ideas for the major currency pairs, gold, and Bitcoin, which can be used to establish suitable objectives and manage risk by identifying regions in a chart where the price is expected to approach. 

  • 21st Mar – JPY – Bank Holiday, EUR – Producer Price Index & USD – Fed Chair Powell Speech 
  • 22nd Mar – AUD – RBA Gov Lowe Speech 
  • 23rd Mar – GBP – Consumer Price Index & Core & Annual Budget Release & USD – New Home Sales 
  • 24th Mar – CHF – Interest Rate Decision & Statement, EUR & GBP – Flash Manufacturing PMI & USD – Durable Goods & Flash Manufacturing PMI 
  • 25th Mar – GBP – Retail Sales & EUR – German IFO Business Climate 

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.

  • On #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, I’m expecting the price to make a pullback to test again the previous resistant 0.73500 level before start rising to test the 0.75000 and 0.75500 level.
  • NZDUSD, I’m expecting the price to make a pullback to test again the previous resistant 0.68500 level before start rising to test the 0.69700 and 0.70000 level.
  • USDCHF, I’m expecting the price to make a pullback from 0.93000 level to test again the previous resistant 0.93500 level before start dropping further to test the 0.92000 and 0.91700 level which is the next strong support level.
  • USDCAD, I’m expecting the price to make a pullback to test again the previous support between the 1.26500 and 1.27000 level before start dropping further to test the 1.25500 and 1.25000 level which is the next strong support level.
  • USDJPY, I expect the price to continue rising to test the major resistant between 119.500 and 120.000 level before start dropping further to test the 117.700 and 117.000 level which is the next strong support level.
  • GOLD, I’m expecting the price continue to drop from the current level to test the next support 1870 before start rising to test the 1970 and 2000 level which is the next strong resistant level.
  • BTCUSD, If the price closes above the 46200 level this week then there is high probability for the price to rise and test the 50500 and 52000 level and if the price closes below the 37000 level this week then there is high probability for the price to drop and test the 35000 and 33000 level. 
  • Finally, BTCUSD, The next strong support level will be the 36000 and 32910 levels, which is the next possible projected 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 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 trading, 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 a highly competitive trading environment with the best trading conditions.