Weekly Forex Analysis: 21-25 Feb 2022

US Index

On the daily chart, DXY tested the demand zone around 95.046-95.264 levels and showed strong bullish evidence to the upside.

If price continues to move higher, the next potential targets are 97.190 and 98.751 levels.

If price breaks below the 95.046 level, the next potential target is 94.345 level.

forex analysis
forex analysis

EURUSD

On the daily chart, EURUSD created a new supply zone around 1.14112-1.14959 levels and showed some bearish evidence to the downside.

If price breaks below last week’s low, the next potential targets are 1.11736 and 1.10331 levels.

forex analysis

GBPUSD

On the daily chart, GBPUSD created a demand zone around 1.33575-1.33885 levels and showed strong bullish evidence to the upside.

Price is now moving sideways with a potential target at 1.37362 level.

If price fails to break above last week’s high, the next potential targets are 1.33885 and 1.32013 levels.

forex analysis

AUDUSD

On the daily chart, AUDUSD created a demand zone around 0.69689-0.70355 levels and showed some bullish evidence to the upside.

If price breaks above last week’s high, the next potential target is 0.73010 level.

If price continues to move down, the next targets are 0.70355 and 0.69229 levels.

forex analysis

NZDUSD

On the daily chart, NZDUSD created a demand zone around 0.65299-0.65748 levels and showed some bullish evidence to the upside.

The next potential targets are 0.65748 and 0.64800 levels. If price breaks above the last week’s high, the next potential target is 0.68531 levels.

forex analysis

USDCAD

On the daily chart, USDCAD created a demand zone around 1.24476-1.25253 levels and showed strong bullish evidence to the upside.

Price is moving sideways, if it breaks above last week’s high, the next potential targets are 1.29100 and 1.30415 levels.

forex analysis

USDCHF

On the daily chart, USDCHF is moving sideways with a fresh demand zone around 0.91082-0.91323 levels below current price.

If price breaks below last week’s low, the next potential targets are 0.91323 and 0.90640 levels.

If the 0.91812 level holds and price retraces back up, the next potential target is a retest of the 0.93205 level.

forex analysis

USDJPY

On the daily chart, USDJPY created a double top near the supply zone around 116.469-118.690 levels.

The next potential targets are 113.947 and 113.155 levels.

forex analysis

XAUUSD

On the daily chart, Gold is testing the supply zone around 1888.045-1916.073 levels.

If this supply zone holds, the next potential target is 1833.776 level. If price breaks above this zone, the next potential target is 194.879 level.

forex analysis

Crude Oil

On the daily chart, Crude oil tested the supply zone around 95.45-98.73 levels and showed some bearish evidence to the downside.

If price continues to show bearish price action, the next potential target is 85.13 level.

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