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 bounce back from the current level to test the previous support 1.06000 level, which possible to become the new resistant. If the price broke the 1.06500 resistant level this week, then there is high probability for the price to rise further to test the 1.07300 and 1.08000 level and would result in an 80 pips gain.
- GBPUSD, expecting the price to bounce back from the current level to test the previous support 1.24000 level, which possible to become the new resistant. If the price broke the 1.24600 resistant level this week, then there is high probability for the price to rise further to test the 1.26000 and 1.26700 level and would result in a 340 pips gain.
- AUDUSD, If the price able to close above the 0.70500 resistant level this week, then there is high probability for the price to rise further to test the 0.71500 and 0.72500 level and would result in a 200 pips gain.
- NZDUSD, if price able to close above the 0.64000 level this week then the next possible level for the price to test will be the 0.65000 level which is the next resistant level and would result in 100 pips gain.
- USDCHF, expecting the price to continue to drop from the current level to test the next support 0.96000 level and if price able to close below the 0.95500 level this week then the next possible level for the price to test will be the 0.95000 level which is the next support level and would result in 150 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 131.300 level which would result in 420 pips gain.
- GOLD, if price able to close above the 1870 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 300 pips gain.
- BTCUSD, If price able to close below the support 19000 level, then the next possible level for the price to test will be the 16000 level and would result in 3000 pips gain.
- Finally on Brent Crude, if price able to close below the support 107.00 level, then the next possible level for the price to test will be the 100.00 level and would result in 70 pips gain.
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, Crude Oil 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.
Source: Forex Technical Analysis: Weekly Analysis on Major Pairs, Gold, Bitcoin
