Weekly Overview 21/2/2022

The weekly overview includes the movements of the major pairs with gold and oil and the areas that traders should monitor during the week with the most important economic data for this week

US Dollar Index

The dollar index is trading in a horizontal range between the price of 97.450 and the price of 94.600, and these are the prices that traders should watch to break through, down or up, to make the picture clearer on this indicator


Gold is rising with the increase in geopolitical tensions, technically the trend is bullish, and last week gold recorded a new peak at the level of 1902.533, the decline to the level of 1844.629 and the failure to close the four-hour candle below this price maintains the positive scenario and the first target is at the level of 1916,284

Crude Oil

Expectations of oil price hikes are increasing with geopolitical tensions. Technically, crude oil touched the 87.34 level and rebounded from it, and we mentioned before that this level is very important to maintain and not breach it to maintain the positive framework. The first target for oil is at the 93.95 level and the second target is at Level 96

Euro against US dollar

This pair is still in a negative frame on the long term, and the trading range resides between the price of 1.14948 and the price of 1.11235, in the medium term the frame is positive if the level of 1.12681 is maintained and the target is at the level of 1.14800, and in the event of breaching the level of 1. 12681 The euro will decline against the dollar to low levels, the first of which is 1.11200

British Pound against US Dollar

In the event that the 1.36441 level is breached and the four-hour candle closes above it, we may witness a correction for this pair to the level of 1.35732 before completing the bullish trend to the level of 1.37300

US Dollar against Japanese Yen

The pair is retreating from the level of 116.360 after it formed equal heights, which indicates the difficulty of forming a new top and the decline of the bullish momentum, but the decline in a volatile manner indicates the weakness of the bullish trend and that the decline is corrective and the first demand area that can rebound from it upwards is located at the level of 114.147

US dollar against Canadian Dollar

This pair is trading in a horizontal manner, and it is better to stay away from trading inside this area and monitor the breach of the resistance line located at 1.2870, which opens the way for this pair to rise to the level of 1.30000 and to monitor the breach of the support line located at 1.26358, through which the Canadian dollar will complete The trend is down, and the trend is still down due to the failure to breach the 1.28170 level, which represents the last high-low recorded by this pair

Australian Dollar against US Dollar

The pair approached breaching the previous top at 0.72486 to confirm the bullish trend by forming two tops,In the event that this scenario is completed, traders should monitor the price of 0.70866, in case of its breach, the positive frame will be canceled

New Zealand Dollar against US Dollar

This pair breached the 0.67033 level on the four-hour chart, which indicates the positive dimension for this pair, as well as on the daily chart, it is possible to rise to the level of 0.68910 as a maximum and then complete the bearish trend again

The most important economic data for this week

Tuesday February 22

US Dollar: Consumer Confidence Index

Wednesday 23 February

New Zealand Dollar: Bank of New Zealand Interest Rate Decision
Sterling Pound: Inflation and Monetary Policy Hearing

Thursday 24 February

British Pound: Speech by the Governor of the Bank of England
US dollar: Gross Domestic Product
Unemployment Complaint Rates

Friday 25 February

US dollar: PCE price index