Weekly Forex Analysis: 14-18 Feb 2022

Dollar Index

On the daily chart, price tested the demand zone around 94.639-95.170 levels and showed strong bullish evidence to the upside.

The next potential targets are the resistance level at 96.693 and 97.195 level.

Dollar Index

EURUSD

On the 4 hour chart, EURUSD created a new supply zone around 1.14270-1.14939 levels and showed strong bearish evidence to the downside.

The next potential targets are 1.12940 and 1.12412 levels. If price breaks below 1.12186 level it might go all the way down to 1.11532 level.

EURUSD

GBPUSD

On the daily chart, GBPUSD is moving sideways testing the supply zone around 1.35918-1.3632 levels. Based on the price action around this zone, we expect price to drop down testing the 1.33901 level as a potential target.

If price violates this supply zone, the next potential targets are 1.36974 and 1.37905 levels.

GBPUSD

AUDUSD

On the daily chart, AUDUSD created a supply zone around 0.71639-0.72482 levels and showed some bearish evidence to the downside.

If price breaks below 0.71000 level, the next potential targets are 0.7042 and 0.69318 levels.

AUDUSD

USDCAD

On the daily chart, USDCAD is moving sideways with a support level around 1.2687.

If this support level holds, the next target is to break above the supply zone around 1.27826-1.28540 levels and test the 1.29113 level.

USDCAD

USDCHF

On the 4 hour chart, USDCHF is moving sideways respecting the support level at 0.92276.

If price breaks below this support level, the next target is the demand zone around 0.91892-0.92025 levels.

If price continues to trade above the support level, the next potential targets are 0.92973 and 0.93362 levels.

USDCHF

USDJPY

On the daily chart, USDJPY tested the demand zone around 114.792-115.218 levels and showed signs of rejection to the upside.

If price continues to move higher, the next potential target is 116.975 level.

USDJPY

XAUUSD

On the daily chart, Gold created a demand zone around 1815.612-1833.632 levels and tested a supply zone around 1859.311-1877.782 levels.

If this supply zone holds, we will see a retracement down to 1833 and 1780 levels.

If price breaks above 1877 level, the next potential target is 1899.856 level.

XAUUSD

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