Technical Analysis
Date:01.10.2021
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 Levels |
|---|---|---|---|---|---|
| GBPUSD | GBPUSD has been trading downward and is now challenging the 1.3435 support level. However, MACD signals indicating decreasing bearish trend and the development of a golden cross indicate that the pair is due for a technical correction approaching the resistance level 1.3605. | R1 R2 | 1.3605 1.3745 | S1 S2 | 1.3435 1.3300 |
| EURUSD | EURUSD has been trading downward as a result of a recent breach below the prior support level of 1.1600. However, MACD signals indicating decreasing bearish trend indicate that the pair should be traded higher as a technical corrective back towards the 1.1600 level. | R1 R2 | 1.1600 1.1690 | S1 S2 | 1.1515 1.1440 |
| USDJPY | USDJPY moved down after a previous breach below the 111.50 support line. The MACD indicator, which displays a bearish trend signal, indicates that the pair will continue its losses towards the support of 110.75. | R1 R2 | 111.50 112.15 | S1 S2 | 110.75 110.05 |
| AUDUSD | The AUDUSD currency pair has been trading higher and is now challenging the resistance level of 0.7235. MACD, which indicates a bullish trend via the development of a golden cross, suggests that the pair will continue its gains after a break over resistance level 0.7235. | R1 R2 | 0.7235 0.7335 | S1 S2 | 0.7150 0.7075 |
| NZDUSD | NZDUSD has been trading higher and is now hitting resistance around 0.6915. MACD, which indicates a bullish trend via the development of a golden cross, suggests that the pair will continue its gains after a break over resistance level 0.6915. | R1 R2 | 0.6915 0.6990. | S1 S2 | 0.6815 0.6725 |
| USDCAD | USDCAD is presently trading higher and is testing the resistance level of 1.2695. However, MACD signals indicating a bearish trend indicate that the pair should be traded down towards the 1.2585 support level. | R1 R2 | 1.2695 1.2770 | S1 S2 | 1.2585 1.2510 |
| USDCHF | USDCHF has been trading downward and is now challenging the 0.9310 support level. MACD indicators that show a negative trend signal with the development of a death cross indicate that the pair will continue its losses if it falls below the support level 0.9310. | R1 R2 | 0.9375 0.9430 | S1 S2 | 0.9310 0.9240 |
| Crude Oil | Crude oil prices have been trading down and are now testing around the 74.20 support level. MACD indicators, which indicate a continuing bearish trend signal, imply that the commodity will extend its losses if it falls below the support level. | R1 R2 | 76.40 78.75 | S1 S2 | 74.20 72.45 |
| XAUUSD | Gold prices increased after a recent breach over the previous barrier level of 1749.95. MACD indicators that indicate bullish trend point to the commodity extending its advances approaching the barrier mark 1785.80. | R1 R2 | 1785.80 1806.85 | S1 S2 | 1749.95 1716.85 |
| Instrument | Description ( H4 Timeframe ) | R | Resistance levels | S | Support Levels |
⊗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.