Weekly Forex Analysis: 28-2 December 2022

DXY

On the weekly chart, DXY tested the demand zone around 103.461-105.614 levels and showed weak bullish evidence to the upside.

If this demand zone is respected and price shows enough bullish price action, we go long to 110.393 level as potential target.

DXY Forex Analysis

EURUSD

On the daily chart, EURUSD retested the supply zone around 1.04112-1.04889 levels and showed some bearish evidence to the downside.

If price breaks the trendline and shows enough bearish price action, we short to 1.00144 level as a potential target.

If price violates this supply zone, the next target is 1.06082 level.

EURUSD Forex Analysis

GBPUSD

On the daily chart, GBPUSD tested the supply zone around 1.20429-1.22754 levels: if price breaks above the 1.22754 level, the next target is 1.24794 level, if this supply zone holds, and we see enough bearish price action, we short to 1.15419 level.

GBPUSD Forex Analysis

AUDUSD

On the daily chart, AUDUSD created a demand zone around 0.65846-0.66646 levels and showed enough bullish evidence to the upside.

If price tests the supply zone around 0.68269-0.69183 levels and shows enough bearish price action, we short to 0.66646 and 0.63925 levels as potential targets.

AUDUSD Forex Analysis

USDCAD

On the daily chart, USDCAD is ranging between 1.32684 and 1.34273 levels. If price breaks the trendline and shows enough bullish price action, the next target is 1.37032 level. If price respects the trendline and violates this demand zone, the next potential target is 1.29686 level.

USDCAD Forex Analysis

USDCHF

On the daily chart, USDCHF retested the demand zone around 0.92837-0.93734 levels and showed some bullish evidence to the upside.

If this demand zone holds, the next potential targets are 0.96000 and 0.98312 levels.

If price breaks below this demand zone, the next potential target is 0.90088 level.

USDCHF Forex Analysis

USDJPY

On the daily chart, USDJPY created a new supply zone around 141.041-142.250 levels and showed enough bearish evidence to the downside.

If price breaks below 135.878 level, the next potential target is 133.170 level.

If this demand zone holds, price will test the 141.041 level and could break above the trendline and go all the way up to 145.638 level.

USDJPY Forex Analysis

XAUUSD

On the daily chart, Gold created a supply zone around 1771.504-1785.971 levels and showed enough bearish evidence to the downside.

If price tests this supply zone and shows enough bearish price action, we short to 1722.929 level as potential target.

XAUUSD Forex Analysis

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