Weekly Forex Analysis: 28-1 April 2022

US dollar index

On the daily chart, DXY is still moving up with a support level around 97.700.

If price continues to show bullish momentum to the upside, the next potential target is to test the supply zone around 99.970-100.584 levels.

If price breaks below support level, the next potential targets are 97 and 96 levels.

forex analysis

EURUSD

On the daily chart, EURUSD retested the supply zone around 1.11150-1.11460 levels and moved sideways.

If price breaks below 1.09054 level, the next potential targets are 1.08520 and 1.07226 levels.

forex analysis

GBPUSD

On the daily chart, GBPUSD is still showing bearish evidence to the downside.

If price breaks above the trend line, tests the supply zone around 1.33445-1.34168 levels and shows enough bearish evidence, we short.

If price breaks below last week’s low and continues to move lower, the next potential target is 1.29833 level.

AUDUSD

On the daily chart, AUDUSD is testing a supply zone around 0.75052-0.75561 levels and showed some signs of rejections.

If this supply zone holds, the next potential targets are 0.74018 and 0.71996 levels.

If price breaks above this supply zone, the next potential target is 0.76815 level.

NZDUSD

On the weekly chart, NZDUSD is testing the supply zone around 0.69814-0.70793 levels. If this supply zone holds, the next potential target is 0.67353 level.

If price breaks above 0.70793 level, we wait until it tests the 0.71199 level to short.

forex analysis

USDCAD

On the daily chart, USDCAD created a new supply zone around 1.27618-1.28742 levels and showed strong bearish evidence to the downside.

If price breaks below this demand zone, the next potential target is 1.23324 level.

If this demand zone holds, price might retrace back up to 1.26233 level.

forex analysis

USDCHF

On the daily chart, USDCHF tested the supply zone around 0.94078-0.94733 levels and showed strong bearish evidence to the downside.

Price tested the demand zone around 0.92487-0.92877 levels and showed signs of rejection to the upside. If this demand zone holds, we might see price retrace back up and retest the supply zone at 0.94078.

If price breaks below this demand zone, the next potential target is 0.92013 level.

forex analysis

USDJPY

On the weekly chart, USDJPY is still moving up in a nice uptrend approaching the weekly supply zone around 123.940-125.816 levels.

If price tests this supply zone and shows enough bearish evidence, we short to 115.459 level.

forex analysis

EURJPY

On the daily chart, EURJPY is testing the supply zone around 134.872-135.829 levels and showed some bearish evidence to the downside.

If this supply zone holds, the next potential target is 131.678 level.

If price breaks above 135.829 level, we wait until it tests the 136.658 level to short.

Forex Analysis

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