Weekly Forex Analysis: 20-24 Dec 2021

US dollar index

On the daily chart, DXY ranged between 95.531 and 96.629 levels with a bullish bias.

If price violates the supply zone around 96.629-96.921 levels and shows enough bullish evidence to the upside, the next potential target is 98.473 level.

If this supply zone holds, price might retrace back down to 95.531 and 93.739 levels as potential targets.

DXY Forex Analysis

EURUSD

On the daily chart, EURUSD created a demand zone around 1.12296-1.11874 levels and went sideways not able to break above 1.13685 resistance level.

If price violates this demand zone, the next potential target is 1.10813 level.

If this zone holds, price might retrace back up to the resistance level and even break above it to test 1.14322 level.

EURUSD Forex Analysis

GBPUSD

On the daily chart, GBPUSD created a demand zone around 1.3152-1.32551 levels but failed to show enough bullish evidence to the upside.

If this demand zone holds and price retraces back up, we go long to 1.34000 and 1.35210 levels as potential targets.

If price violates this zone, we wait until it tests 1.31452 level and shows enough bullish evidence to go long.

GBPUSD Forex Analysis

AUDUSD

On the daily chart, AUDUSD created a demand zone around 0.69906-0.70552 levels and showed enough bullish evidence to the upside.

If price tests 0.70552 level and shows enough bullish evidence, we go long to 0.71649 and 0.72493 levels as potential targets.

AUDUSD Forex Analysis

NZDUSD

On the daily chart, NZDUSD created a new supply zone around 0.67811-0.68346 levels and showed enough bearish evidence to the downside.

If price continues to move down, the next potential target is 0.66545 level.

NZDUSD Forex Analysis

USDCAD

On the daily chart, USDCAD created a new demand zone around 1.26791-1.27413 levels and showed strong bullish evidence to the upside.

If price breaks above the 1.29000 area, the next potential target is 1.30006 level.

USDCAD Forex Analysis

USDCHF

On the daily chart, USDCHF is moving sideways with a bullish bias.

If price breaks above 0.92500 level and continues to show bullish evidence, we go long to 0.93211 level as potential target.

If price breaks the trend line and starts moving down, the next potential targets are 0.91261 and 0.90657 levels.

USDCHF Forex Analysis

USDJPY

On the daily chart, USDJPY tested the demand zone around 112.552-113.148 levels and showed weak bullish evidence to the upside.

If this demand zone holds and price shows enough bullish momentum, we go long to 114.888 level as potential target.

If price violates this demand zone, price might move all the way down to 111.473 level.

USDJPY Forex Analysis

XAUUSD

On the daily chart, Gold is moving sideways with a new demand zone around 1753.940-1780.543 levels.

If price continues to show bullish evidence to the upside, we go long to 1826.805 and 1858.654 levels as potential targets.

If price violates this demand zone and goes all the way down to 1745.450 level, we wait until we have enough bullish price action to go long.

XAUUSD Forex Analysis

WTI Crude Oil

On the daily chart, Crude oil is moving sideways between 70 and 72 levels.

If price moves all the way down to test 67.54 level and shows enough bullish evidence, we go long to 71.94 and 78.15 levels as potential targets.

Crude oil Forex Analysis

Risk Disclaimer: By viewing any material or using the information within this site, you agree that it is general educational material and you will not hold anybody or entity responsible for loss or damages resulting from the content provided here by “TradingFXHub”. The owner of this website is not a licensed financial advisor, your trades are the result of your actions and not his. If at any time you use any advice or opinion stated in this website and you lose money, this is your fault and you should not hold TradingFXHub accountable. TradingFXHub has no control over your trading account, and therefore, your money. Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. Past performance is not indicative of future results. The high degree of leverage can work against you as well as for you. The possibility exists that you could sustain a loss of some or all your initial investment and therefore you should not invest money you cannot afford to lose. Individual results vary and no representation is made that clients will or are likely to achieve profits or incur losses comparable to those that may be shown.