Weekly Forex Analysis: 13-17 Dec 2021

US dollar index

On the daily chart, DXY retested the supply zone around 96.510-96.925 levels and showed some bearish evidence to the downside.

The next target on DXY is to move all the way to 95.238 level.

DXY forex analysis

EURUSD

On the daily chart, EURUSD retested the demand zone around 1.11859-1.12301 levels and showed some bullish evidence to the upside.

If price continues to move higher and breaks above last week’s high, the next potential target is 1.14324 level.

EURUSD Forex Analysis

GBPUSD

On the daily chart, GBPUSD tested the demand zone around 1.31070-1.31965 levels and showed some bullish evidence to the upside.

If price retests this demand zone and shows enough bullish evidence, we go long to 1.34426 as our potential target.

If price violates this demand zone, we wait until it tests 1.30472 level to go long.

GBPUSD Forex Analysis

AUDUSD

On the daily chart, AUDUSD tested the demand zone around 0.69891-0.70710 levels and showed strong bullish evidence to the upside.

If price continues to move higher, the next potential targets are 0.72479 and 0.75010 levels.

AUDUSD Forex Analysis

NZDUSD

On the daily chart, NZDUSD created a new demand zone around 0.67348-0.67664 levels and showed weak bullish evidence to the upside.

If price retests this zone and shows enough bullish evidence, we go long to 0.69196 and 0.71241 as potential targets.

NZDUSD Forex Analysis

USDCAD

On the daily chart, USDCAD created a supply zone around 1.27762-1.28566 levels and showed strong bearish evidence to the downside.

If price retests this supply zone and we have enough bearish evidence, we short to 1.26334, 1.24972 and 1.23307 levels as potential targets.

If price violates the supply zone and breaks above 1.29500, the next target is to test 1.30666 level.

USDCAD Forex Analysis

USDCHF

On the daily chart, USDCHF created a new demand zone around 0.91558-0.92024 levels and came back again to retest it.

If price violates this zone, we wait until it tests 0.91229 level to go long if we have enough bullish evidence.

If demand zone holds and price starts retracing back up, the next potential target is 0.93268 level.

USDCHF Forex Analysis

USDJPY

On the daily chart, USDJPY created a new demand zone around 112.520-113.148 levels and showed weak bullish evidence to the upside.

If price retests this demand zone and shows enough bullish evidence, we go long to 115.077 level.

If price violates this zone, price will go all the way down to 111.465 level as potential target.

USDJPY Forex Analysis

XAUUSD

On the daily chart, Gold is moving sideways trading near daily demand zone around 1749.412-1761.299 levels.

If this demand zone holds, we might see price moving all the way up to 1845.793 level.

If price breaks below 1749.412 level, we wait until it tests 1734.696 or 1703.969 levels to go long if we get enough bullish evidence to the upside.

XAUUSD Forex Analysis

WTI Crude Oil

On the daily chart, Crude Oil tested the demand zone around 61.83-63.56 levels and showed strong bullish evidence to the upside.

If price breaks above the trend line, we might see price going all the way up to 77.63 and 84.26 levels as potential targets.

If the trend line holds and price retraces back down, the next target is a retest of 63.56 level.

Crude Oil analysis

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