Technical Analysis
Date: 02.06.2022
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 traded lower after the previous break below the previous support of 1.2585. The MACD, which illustrates the trend of the downtrend, shows that the pair can extend losses towards the support at 1.2425. | R1 R2 | 1.2585 1.2700 | S1 S2 | 1.2425 1.2325 |
EURUSD | EURUSD has traded lower as it is currently testing the support at 1.0640. MACD, which illustrates the trend of a downtrend, shows losses after a successful break below support. | R1 R2 | 1.0695 1.0770 | S1 S2 | 1.0640 1.0565 |
USDJPY | USDJPY has been trading higher after an earlier break above previous resistance at 128.80. The MACD, which illustrates the momentum of the uptrend, shows that the pair will extend its gains towards the next resistance level. | R1 R2 | 131.35 133.15 | S1 S2 | 128.80 126.95 |
AUDUSD | AUDUSD traded higher after the previous break above previous resistance at 0.7120. The MACD, which illustrates the momentum of the uptrend, shows that the pair will extend gains towards the resistance at 0.7260. | R1 R2 | 0.7260 0.7345 | R1 R2 | 0.7120 0.7035 |
NZDUSD | NZDUSD traded lower after the previous retracement of the resistance at 0.6545. The MACD, illustrating a decline in bullish momentum, shows that the pair can extend losses towards the support at 0.6430. | R1 R2 | 0.6545 0.6635 | R1 R2 | 0.6430 0.6365 |
USDCAD | USDCAD was trading higher after the previous break above the previous resistance at 1.2655. The MACD, which illustrates the descending momentum of the downtrend, suggests that the pair should extend its gains towards the 1.2715 resistance level. | R1 R2 | 1.2715 1.2775 | S1 S2 | 1.2655 1.2590 |
USDCHF | USDCHF was trading higher after an earlier break above previous resistance at 0.9590. The MACD, illustrating the drop in bearish momentum, suggests the pair should extend its gains towards the resistance at 0.9665. | R1 R2 | 0.9665 0.9745 | S1 S2 | 0.9590 0.9520 |
Crude Oil | Crude oil prices traded lower after breaking below previous support at 113.50. The MACD, which illustrates the momentum of the downtrend, suggests that the commodity will extend its losses towards the 110.70 support level. | R1 R2 | 113.50 116.50 | S1 S2 | 110.70 108.05 |
XAUUSD | Gold price traded higher as it is currently testing the resistance at 1850.00. The MACD, which illustrates the waning bearish momentum, shows that the commodity will extend its rally after successfully breaking the resistance level. | R1 R2 | 1850.00 1871.65 | S1 S2 | 1830.00 1809.00 |
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.