Technical Analysis
Date: 01.08.2022
Technical Analysis is a trading discipline that is used to analyze assets and find trading opportunities by examining statistical patterns derived from trading activity, such as price movement and volume. In order to navigate the gap between intrinsic value and market price, traders and investors you may benefit from FXTradium’s daily Analysis.
| Instrument | Description ( H4 Timeframe ) | R | Resistance levels | S | Support |
|---|---|---|---|---|---|
| GBPUSD | GBPUSD was trading higher after breaking out above the previous resistance level. However, MACD, which shows increasing bearish trend, suggests that the pair will trade lower as a technical correction. | R1 R2 | 1.2320 1.2485 | S1 S2 | 1.2170 1.2030 |
| EURUSD | The EURUSD has been trading higher and is currently testing the resistance level. However, the MACD, which showed decreasing bullish trend, suggests that the pair should be traded lower as a technical correction. | R1 R2 | 1.0230 1.0315 | S1 S2 | 1.0160 1.0075 |
| USDJPY | The USDJPY was trading lower after breaking below the previous support level. However, the MACD, which showed decreasing bearish trend, suggests that the pair should be traded higher as a technical correction. | R1 R2 | 133.10 134.25 | S1 S2 | 131.65 130.40 |
| AUDUSD | The AUDUSD was trading lower after breaking below the previous support level. However, the MACD, which showed decreasing bearish trend, suggests that the pair should be traded higher as a technical correction. | R1 R2 | 0.7005 0.7075 | S1 S2 | 0.6930 0.6850 |
| NZDUSD | NZDUSD is currently trading higher while testing the resistance level. However, the MACD, which showed decreasing bullish trend, suggests that the pair should be traded lower as a technical correction. | R1 R2 | 0.6295 0.6350 | R1 R2 | 0.6235 0.6185 |
| USDCAD | USDCAD has been trading lower and is currently testing the support level. However, MACD, which shows increasing bullish trend, suggests that the pair will trade higher as a technical correction. | R1 R2 | 1.2875 1.2940 | R1 R2 | 1.2800 1.2730 |
| USDCHF | The USDCHF was trading lower after breaking below the previous support level. However, the MACD, which showed decreasing bearish trend, suggests that the pair should be traded higher as a technical correction. | R1 R2 | 0.9520 0.9595 | S1 S2 | 0.9455 0.9380 |
| Crude Oil | Crude Oil prices fell after breaking below the previous support level. The decreasing bullish trend shown by the MACD suggests that the commodity's losses will be extended. | R1 R2 | 97.70 100.45 | S1 S2 | 93.55 88.40 |
| XAUUSD | The Gold price increased after breaking above the previous resistance level. However, the MACD, which showed decreasing bullish trend, suggests that the commodity will trade lower as a technical correction. | R1 R2 | 1769.60 1787.80 | S1 S2 | 1753.25 1737.30 |
| Instrument | Description ( H4 Timeframe ) | R | Resistance levels | S | Support |
⊗Please keep in mind that these are just expectations based on the research and investigations of the FXTradium Technical analysis team, and that the final decision on any specific trade will be made by the client.