Check the weekly technical 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.
- EURUSD, I believe the market will start to drop to test the 1.18000 level and if the level broke then the next possible level for the market to test is the 1.17500 level before continuing to rise. The possible take profit level will be at 1.19500 and stop loss is around 1.17300 level.
- GBPUSD, I believe the market will start to drop to test the 1.38000 level and if the level broke then the next possible level for the market to test is the 1.37600 level before continuing to rise. The possible take profit level will be at 1.39000 and 1.40000 and stop loss is around 1.37256 level.
- AUDUSD, I believe the market will start to drop to test the 0.73000 level before continuing to rise. The possible take profit level will be at 0.74000, 0.74500 and 0.75600 level and stop loss is around 0.72300 level.
- NZDUSD, I believe the market will start to rise from the current level to test the 0.72000 level. The possible take profit level will be at 0.72000 level and stop loss is around 0.70675 level.
- USDCHF, I believe the market will start to drop to test the 0.91000 level before continuing to rise again. The possible take profit level will be at 0.91000 level and stop loss is around 0.92300 level.
- USDCAD, I believe the market will start to drop to test the 1.26000 level and if the level broke then the next possible level for the market to test is the 1.25000 level. The possible take profit level will be eventually 1.26000 and 1.25000 level and the stop loss is around 1.27668 level.
- USDJPY, If the market breaks the 109.600 level then the next possible level for the market to test is the 109.300 level. The possible take profit level will eventually be 109.600 and 109.300 level and the stop loss is around 110.450 level.
- GOLD, I believe the market will start to drop from the current level to test the 1780 or 1770 level before continuing to rise again. The possible take profit level will be at 1800, 1820 and 1845 level and stop loss is around 1750 level. Finally,
- BTCUSD, I believe the market will start to drop from the current level to test the 43700 or 41000 levels before continuing to rise again. The possible take profit level will be at 43700 and 46200 levels and stop loss is around 37300 level.
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Learn more about technical analysis
Technical analysis is a very common method used by investors to analyze the financial markets. The main benefit of learning forex technical analysis is to identify the relationships between price/volume and market indicators such as the moving average and MACD, etc. Why technical analysis is important for forex trading? According to studies, most successful forex traders rely on technical analysis to study the market. In the forex market, traders can use technical analysis to analyze the major pairs, Gold, and cryptocurrencies.
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