Weekly Forex Analysis: 17-21 October 2022

DXY

On the weekly chart, DXY tested the demand zone around 107.635-110.183 levels and showed enough bullish evidence to the upside.

If price breaks above 115.387 level, the next potential target is 116.834 level.

DXY Forex Analysis

EURUSD

On the daily chart, EURUSD tested the demand zone around 0.95374-0.96662 levels and showed some bullish evidence to the upside.

If price breaks above 0.98000 level and goes all the way up to 0.98739 level, we short if this supply zone holds.

If this resistance is strong and price continues moving down breaking below the 0.95374 level, the next potential target is 0.93055 level.

EURUSD Forex Analysis

GBPUSD

On the daily chart, GBPUSD is moving sideways between 1.08860 and 1.13674 levels.

If price retests the demand zone at 1.08860 level and shows enough bullish evidence, we go long to 1.13674 and 1.17112 levels as potential targets.

GBPUSD Forex Analysis

AUDUSD

On the daily chart, AUDUSD is heading down to test the demand zone around 0.59779-0.60915 levels.

If price tests this demand zone and shows enough bullish evidence, we go long to 0.64000 level as potential target.

If price breaks below this demand zone, price might go all the way down to 0.58250 level.

AUDUSD Forex Analysis

NZDUSD

On the daily chart, NZDUSD tested the supply zone around 0.58073-0.58918 levels and showed some bearish evidence to the downside.

If price continues moving down, the next potential target is 0.50976 level.

NZDUSD Forex Analysis

USDCAD

On the daily chart, USDCAD tested the supply zone around 1.39433-1.40525 levels and showed signs of rejection to the downside.

If this supply zone holds, the next potential targets are 1.35910 and 1.33691 levels.

If price breaks above the 1.40525 level, the next potential target is to test the supply zone at 1.44577 level.

USDCAD Forex Analysis

USDCHF

On the weekly chart, USDCHF created a new demand zone around 0.97371-0.98708 levels and showed strong bullish evidence to the upside.

If price tests the supply zone around 1.01017-1.02354 levels and shows enough bearish evidence, we short to 0.98708 and 0.95852 levels as potential targets.

If price breaks above this supply zone, the next potential target is 1.02508 level.

USDCHF Forex Analysis

USDJPY

On the weekly chart, USDJPY is still moving up since April 2022 and still has room to the upside before testing the supply zone around 155.543-160.504 levels.

We expect to see more bullsih momentum pushing price up to 155.543 as potential target. If price tests this supply zone and shows enough bearish evidence, we short to 137.745 level as potential target.

USDJPY Forex Analysis

XAUUSD

On the weekly chart, Gold tested the supply zone around 1726.811-1768.188 levels and showed enough bearish evidence to the downside.

If price breaks below the 1572.941 level, the next potential target is 1528.978 level.

XAUUSD Forex Analysis

Crude Oil

On the daily chart, Crude oil tested the supply zone around 92.04-97.60 levels and showed strong bearish evidence to the downside.

The next potential target is to test the demand zone around 76.32-80.36 levels.

Crude Oil Forex Analysis

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