Weekly Forex Analysis: 18-22 April 2022

US dollar index

On the weekly chart, DXY created a new demand zone around 97.661-99.108 levels and still showing bullish evidence to the upside.

The next potential target is 102.158 level.

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EUR/USD

On the daily chart, EUR/USD is still in a downtrend with a potential target at 1.06883 level.

If price tests the demand zone around 1.05757-1.06883 levels and shows enough bullish evidence to the upside, we go long.

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GBP/USD

On the weekly chart, GBP/USD is testing a weekly demand zone around 1.28535-1.30474 levels and showed weak bullish evidence to the upside.

If price breaks below this demand zone and goes all the way down to 1.26701 level, we wait for bullish confirmation to go long.

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AUD/USD

On the daily chart, AUD/USD created a new supply zone around 0.75403-0.76605 levels and showed enough bearish evidence to the downside.

If price breaks below 0.73620 level, price will move all the way down to 0.72273 level as a potential target.

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NZD/USD

On the daily chart, NZD/USD tested the supply zone around 0.70159-0.70773 levels and showed enough bearish evidence to the downside.

The next potential targets are 0.66388 and 0.65793 levels.

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USD/CAD

On the daily chart, USD/CAD is moving sideways testing the demand zone around -1.23300-1.24046 levels.

If price tests 1.27638 level and and shows enough bearish evidence to the downside, we short.

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USD/CHF

On the daily chart, USD/CHF created a new demand zone around 0.92884-0.93356 levels and showed strong bullish evidence to the upside.

If price violates this supply zone, the next potential target is the supply zone around 0.95761-0.96503 levels.

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USD/JPY

On the daily chart, USD/JPY is trading near weekly supply zone around 126.718-129.299 levels.

If price tests this supply zone and shows enough bearish evidence to the downside, we short.

If price violates this supply zone, the next potential target is 132.463 level.

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Crude Oil

On the daily chart, Crude oil is moving sideways testing the demand zone around 90.17-95.79 levels.

The next potential target is to test the 111.25 level .

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XAU/USD

On the 4 hour chart, Gold is testing the supply zone around 1982.362-1997.516 levels and showed weak bearish evidence to the downside.

If this supply zone holds and price shows enough bearish evidence to the downside, we short to 1910.150 level as a potential target.

If price violates this supply zone, it will move all the way up to 2041.555 level.

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