Weekly Forex Analysis: 30-3 June 2022

US dollar index

On the daily chart, DXY created a new supply zone around 102.657-103.259 levels and showed some bearish evidence to the downside.

The next potential target is to test the demand zone around 99.574-100.345 levels.

DXY chart

EUR/USD

On the daily chart, EUR/USD created a new demand zone around 1.05357-1.05969 levels and showed enough bullish evidence to the upside.

If price tests 1.07954 level and shows enough bearish confirmation, we short to 1.05969 and 1.04321 levels as potential targets.

EURUSD chart

GBP/USD

On the daily chart, GBP/USD created a demand zone around 1.21531-1.22597 levels and showed enough bullish evidence to the upside.

If price moves all the way up to 1.28626 level and shows enough bearish rejection to the downside, we short.

GBPUSD chart

AUD/USD

On the daily chart, AUD/USD created a new demand zone around 0.70004-0.70482 levels and showed some bullish evidence to the upside.

There is a supply zone on the 4 hour chart around 0.72158-0.72688 levels, if price tests this zone and shows bearish evidence to the downside, we short to 0.70482 and 0.69371 levels.

If price breaks above 0.72688 level, we wait for it to test the 0.737014 level to short.

AUDUSD chart

NZD/USD

On the daily chart, NZD/USD created a new demand zone around 0.63647-0.64059 around and showed some bullish evidence to the upside.

If price tests 0.67309 level and this supply zone holds, we short.

NZDUSD chart

USD/CAD

On the daily chart, USD/CAD created a new supply zone around 1.28129-1.28863 levels and showed strong bearish evidence to the downside.

If price breaks below 1.26819 level, the next potential targets 1.25787 and 1.24046 levels.

USDCAD chart

XAU/USD

On the daily chart, Gold created a new demand zone around 1787.209-1823.756 levels and showed some bullish evidence to the upside.

If price tests the 1823.756 level and shows enough bullish evidence to the upside, we go long to 1893.928 level.

XAUUSD chart

Crude Oil

On the daily chart, Crude oil is near daily supply zone around 120.55-129.21 levels. If price tests this zone and shows enough bearish evidence to the downside, we short to 110 and 103 levels.

crude oil chart

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.