Weekly Forex Analysis: 19-23 September 2022

DXY

On the daily chart, DXY is creating a new demand zone around 107.642-108.840 levels and still showing bullish evidence to the upside.

If price breaks above 110.792 level, the next potential target is 112.129 level.

DXY

EUR/USD

On the daily chart, EUR/USD is moving sideways with a potential bearish continuation to the downside.

If price breaks below demand zone around 0.98647-0.99433 levels, we short to 0.97482 level as a potential target.

If price breaks above the trend line, we wait until it tests one of the supply zones above current price to short.

EURUSD

GBP/USD

On the weekly chart, GBP/USD created a supply zone around 1.20613-1.22936 levels and showed strong bearish evidence to the downside.

The next potential target is to test the 1.08941 level as long as price continues to show bearish momentum and respects the trend line.

GBPUSD

NZD/USD

On the daily chart, NZD/USD tested the demand zone around 0.5914-0.6019 levels and failed to show bullish evidence to the upside.

If price violates this demand zone, the next potential target is to test the 0.5734 level.

If this demand zone holds and price breaks above the trend line, we go long to 0.6247 level.

USD/CHF

On the daily chart, USD/CHF is moving sideways between 0.9418 and 0.9755 levels.

If price breaks above last week’s high, the next potential target is 0.97556 level.

If price fails to move higher, we might see a retracement back down to retest the 0.94180 level.

USDCHF

USD/CAD

On the daily chart, USD/CAD is testing the supply zone around 1.33172-1.34627 levels and showed some bearish evidence to the downside.

If this supply zone holds and price starts trading below last week’s high, the next potential targets are 1.30467 and 1.29091 levels.

USD/JPY

On the daily chart, USD/JPY created a new demand zone around 137.941-139.226 levels and showed strong bullish evidence to the upside.

Price might break below the trend line to correct before retracing back up. If price tests the 139.226 levels and shows enough bullish evidence, we go long to 150.878 level as a potential target.

USDJPY

AUD/JPY

On the weekly chart, AUD/JPY is showing a strong bullish momentum pushing price above 95 levels.

If price tests the weekly supply zone around 99.887-102.712 levels and shows enough bearish evidence to the downside, we short to 88.298 as a potential target.

AUDJPY

XAU/USD

On the daily chart, Gold created a new supply zone around 1697.604-1736.492 levels and showed strong bearish evidence to the downside.

If price retraces back up to test 1697.604 level and shows enough bearish evidence, we short to 1617.892 as a potential target.

Gold XAUUSD

Crude Oil

On the daily chart, Crude oil created a new demand zone around 81.25-84.32 levels and showed some bullish evidence to the upside.

If price breaks above the trend line, the next potential target is 92.71 level.

If price violates this demand zone and breaks below 81.25 level, the next potential target is 67.46 level.

Crude Oil WTI

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